🚀 XRP ETFs Set to Transform the Toronto Stock Exchange
📈 Two XRP exchange-traded funds (ETFs) are poised to debut on the Toronto Stock Exchange (TSX), marking a significant advancement for cryptocurrency in traditional finance. Evolve Funds Group Inc., a Canadian firm managing $7 billion in assets, has filed a final prospectus to launch the Evolve XRP ETF, expected to start trading on June 18 under the ticker symbols XRP (CAD Unhedged) and XRP.U (USD), pending TSX approval.
💬 The firm stated that
XRP’s investment objective is to hold substantially all of its assets in physical XRP in order to provide a secure and convenient way for investors to hold the cryptocurrency in a brokerage account.
Elliot Johnson, Chief Investment Officer at Evolve, emphasized the utility of XRP for
fast, low-cost cross-border payments and decentralized exchange functionality.
📊 The fund's net asset value will be based on the CME CF XRP-Dollar Reference Rate and will not involve derivatives or foreign currency hedging. Canada's regulatory framework allows for easier listing and trading of ETFs compared to the U.S., where the SEC has been cautious with crypto ETF applications. This accessibility provides Canadian investors with a secure way to engage with digital assets like XRP.
🔗 The Evolve XRP ETF will passively hold XRP acquired through reputable platforms like Coinbase. Evolve noted that
to achieve its investment objectives, the Evolve Fund will invest in long-term holdings of XRP, purchased through Coinbase and/or other reputable XRP trading platforms and OTC counterparties.
📅 On the same day, Purpose Investments Inc. announced its Purpose XRP ETF will also launch on June 18, 2025, under the ticker XRPP, offering CAD-hedged, CAD non-hedged, and USD units.
