Canada’s XRP ETF Launch: Will the U.S. Join the Party or Stay Home? 🎉

In the land of maple syrup and polite apologies, a delightful buzz fills the air as the Ripple community prepares for a momentous occasion: the debut of the first-ever spot XRP exchange-traded fund (ETF) from Purpose Investment, set to grace the Canadian market on June 18. This isn’t just any ETF; it’s the first XRP ETF to waltz onto the Toronto Stock Exchange (TSX), a bold step towards making cryptocurrency as mainstream as hockey and poutine. 🍁

According to the official proclamation, the XRP ETF from Purpose will come in various flavors: CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US dollar (ticker XRPP.U) units. But hold your horses! Investors can only savor these ETFs in their registered accounts, like TFSAs and RRSPs. Because who doesn’t love a little bureaucratic red tape? 😏

As the crypto world’s gaze sharpens on Ripple and XRP, this launch solidifies Canada’s reputation as the cool kid on the crypto block, flaunting its progressive regulations. Purpose Investments, the firm behind this venture, is no stranger to the spotlight; it was also the mastermind behind the world’s first spot Bitcoin ETF back in 2021. Talk about a legacy! 🏆

With the Ontario Securities Commission (OSC) giving the thumbs up, Canada is strutting its stuff as a leader in regulated access to digital assets. Meanwhile, the U.S. is left scratching its head, wondering when it might finally join the fun. Regulatory hurdles have turned the American dream into a bit of a nightmare, despite the country’s status as a crypto heavyweight.

When Will the U.S. Approve Spot XRP ETFs?

XRP has been embroiled in a legal soap opera with the U.S. Securities and Exchange Commission (SEC) since 2020, accused of being an unregistered security. A partial victory for Ripple in 2023 confirmed XRP’s non-security status on retail exchanges, but alas, it hasn’t propelled XRP-based ETFs into the limelight just yet. 🎭

Out of nine hopeful filings, none of the contenders—including Bitwise, Canary Capital, 21 Shares, Grayscale, WisdomTree, CoinShares, Volatility Shares, ProShares, and Franklin Templeton—have received the coveted U.S. approval. Investors and analysts are left to play the guessing game on when the SEC might finally loosen its grip.

In a twist of fate, Franklin Templeton Investments is anxiously awaiting a decision today, June 17, on its application for a spot XRP ETF. The timing is almost too perfect—Franklin Templeton’s fate hanging in the balance just as Purpose’s launch approaches. Could this be the spark that ignites U.S. regulatory action? 🔥

While the crypto community held its breath for a potential dismissal in the long-standing Ripple-SEC saga on June 16, the decision has now been postponed until August. A favorable ruling could have catapulted Ripple into a stronger position, paving the way for XRP ETFs. Instead, the market is left in a state of mixed emotions, with XRP’s price bouncing nearly 11% from its weekly low before settling back down. 🎢

On a brighter note, some analysts are optimistic that the SEC might drop its appeal, which would certainly stir up conversations about the XRP ETF. Moreover, the launch of Canada’s first XRP ETF could very well influence the SEC’s decision to approve one—or even all—of the nine ETFs in the near future. Fingers crossed! 🤞

2025-06-17 15:06

When Will the U.S. Approve Spot XRP ETFs?

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