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Official Steps Taken to Launch the World's First Ripple (XRP) ETF! - Coin Bulletin
Canadian Purpose Investments has taken official steps to launch the world's first Ripple (XRP) ETF. The new fund aims to provide investors with regulated access to XRP.
Purpose Investments, a pioneer in cryptocurrency investment products, has now taken action for the world's first Bitcoin and Ethereum ETFs, and now a Ripple (XRP)-based exchange-traded fund (ETF). The company announced that it has submitted a preliminary prospectus for an XRP ETF to securities regulators in Canada.
Purpose Investments CEO Som Seif emphasized the company's innovation-focused approach, saying:
The company's Chief Innovation Officer Vlad Tasevski stated that this move is part of their vision to provide investors with access to regulated investment instruments for digital assets and blockchain technologies.
As an investment company with more than 23 billion dollars under management, Purpose Investments is known for its innovative funds with a focus on crypto. The company, which launched Canada's first Bitcoin (BTC) and Ethereum (ETH) ETFs, now aims to expand its portfolio with XRP.
If regulators in Canada approve the application, the Purpose Ripple ETF will go down in history as the world's first XRP ETF. This development could strengthen XRP's position in traditional financial markets and attract more institutional investors.