crypto

Sage D. Young6/16/25

Purpose Investment’s spot XRP ETF to begin trading in Canada on June 18

XRP bounced on news that asset management company Purpose Investment’s spot XRP ETF will begin trading on the Toronto Stock Exchange on Wednesday, according to a press release, which said the Ontario Securities Commission granted a “final prospectus receipt for the Purpose XRP ETF, marking a significant milestone in the evolution of digital asset investing in Canada.”

The price of XRP, the fourth-largest cryptocurrency by market capitalization, has gained 7.3% in the last 24 hours, outpacing bitcoin, ethereum, Solana, and dogecoin, data from CoinGecko shows.

The Purpose XRP ETF enables investors to gain exposure to the token without directly owning XRP and is the first spot XRP ETF available in North America, though there is a leveraged XRP ETF from Teucrium Investment Advisors that launched in April.

A number of US firms including Bitwise, 21Shares, and Grayscale are gearing up to roll out their own spot XRP ETFs. Elsewhere, asset manager Hashdex launched a spot XRP ETF in Brazil in April.

The announcement comes after Trident Digital Tech Holdings, Webus, and VivoPower International have each adopted an XRP crypto treasury strategy.

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crypto

Sage D. Young1/28/26

Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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