Purpose Investments, a Canadian asset management firm with $23 billion in AUM, has officially entered the XRP ETF race. The company recently submitted a preliminary filing to Canadian regulators, aiming to launch the world’s first spot XRP exchange-traded fund (ETF).

If approved, this ETF would allow investors to gain direct exposure to XRP without holding the cryptocurrency themselves.
Purpose Investments Seeks XRP ETF Approval
The Purpose Ripple ETF aims to allocate most of its assets to long-term XRP holdings. This would give investors an easy way to participate in XRP’s price movements while avoiding the complexities of self-custody.
According to Purpose Investments’ CEO, Som Seif, this ETF could play a key role in accelerating crypto adoption among wealth management institutions.
Purpose Investments is already a leader in the crypto ETF space, offering Bitcoin (BTC) and Ethereum (ETH) ETFs, along with yield-focused crypto funds providing up to 13.3% APY. The firm also manages traditional finance (TradFi) ETFs, covering tech stocks, private equity, and credit opportunities.
More Crypto ETFs Expected in 2025
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, has emphasized the company’s commitment to crypto-focused products.
Many analysts believe that XRP could be the next cryptocurrency to receive ETF approval, following Bitcoin and Ethereum. Industry expert Nate Geraci predicts that XRP will be the third crypto ETF to be greenlit.
Beyond XRP, the market anticipates new ETFs for Solana (SOL), Litecoin (LTC), and Cardano (ADA). However, with Ripple nearing victory in its legal battle with the SEC, XRP appears to be the strongest contender for approval.