Purpose Investments, a Canada-based asset manager, has confirmed it will launch the Purpose XRP ($2.01) ETF on June 18. The ETF will trade on the Toronto Stock Exchange (TSX) under the ticker XRPP. This move marks the first-ever spot XRP ETF in North America and puts pressure on regulators in the United States to follow suit.

On June 17, Purpose received its final prospectus receipt from the Ontario Securities Commission (OSC), allowing it to move forward with the launch. The company first filed the initial prospectus on January 31, meaning it took less than six months to gain full regulatory approval.

Purpose had previously made history by launching the first spot Bitcoin ETF in 2021, and now it is set to repeat the milestone for XRP. The ETF provides investors with regulated exposure to XRP, the native token of the XRP Ledger, a Layer 1 blockchain network.

Brazil Led the Way with First-Ever XRP ETF

While Purpose is the first in North America, it is not the first globally. Hashdex, a Brazilian asset manager, launched the world’s first spot XRP ETF XRPH11 on April 25 via Brazil’s leading stock exchange, B3. This global momentum underscores growing institutional interest in XRP and altcoin-based financial products.

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Meanwhile, US-based asset managers are racing to launch similar funds. Bitwise, Grayscale, and Franklin Templeton have all filed applications with the US SEC. Franklin Templeton even faces an intermediate deadline today. Analysts expect more developments in Q4 2025.

High Approval Odds and Price Impact Predictions

Eric Balchunas, a senior Bloomberg ETF analyst, estimates there is an 85% chance of the US SEC approving an XRP ETF this year. Jason Yanowitz, co-founder of Blockworks, believes XRP ETFs could follow Solana’s approval next.

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Additionally, the SEC has started proceedings on WisdomTree’s spot XRP ETF, suggesting rising regulatory momentum. If approved, analysts predict XRP could see a strong price rally. Jake Claver, DAG Managing Director, expects XRP to mirror Bitcoin ETF success. Others forecast a possible surge to $12 if XRP ETFs capture 15% of Bitcoin ETF inflows.

With the launch of the Purpose XRP ETF, XRP gains a major foothold in regulated markets. This milestone may accelerate similar approvals across other countries, especially in the US. As institutional interest grows, XRP’s market profile continues to strengthen, potentially setting the stage for a significant price rally.

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