Purpose Investments Confirms Launch of First Spot-Based XRP ETF in North America
Purpose Investments confirmed it will launch the first-ever spot-based XRP exchange-traded fund (ETF) in North America on June 18. The product will begin trading on the Toronto Stock Exchange, giving investors direct access to XRP, the fourth-largest altcoin by market cap.
The Ontario Securities Commission (OSC), Canada’s top regulator, approved the fund. Purpose’s XRP ETF will be the first in the region to hold actual XRP rather than futures or leveraged products.
XRP ETF Activity Expands Beyond Brazil
Earlier this year, Hashdex introduced the first spot XRP ETF in Brazil. With Canada now approving a similar product, North America’s XRP ETF landscape is expanding. These spot ETFs differ from futures-based or leveraged products by holding the underlying asset directly.
In the U.S., firms like Franklin Templeton, WisdomTree, and Bitwise have filed to launch their own spot XRP ETFs. While none have secured SEC approval yet, Bloomberg reports that decisions could arrive by Q4 2025. These filings follow the earlier approval of XRP futures by the CME Group, which helped strengthen the case for spot-based products.
Existing U.S. XRP ETFs Use Derivatives
Teucrium launched the first U.S.-based XRP ETF in April. This leveraged product delivers double the daily performance of XRP, rather than tracking the asset one-to-one. Last month, Volatility Shares rolled out a futures ETF that does offer one-to-one exposure but still relies on derivatives.
North America’s upcoming spot XRP ETF from Purpose Investments will mark a key shift, offering a regulated, physically-backed option for XRP exposure starting June 18.
XRP Price Chart Shows Bearish Pennant, Points to 28% Drop Toward $1.74
On June 17, 2025, the XRP/USDT chart displayed a bearish pennant pattern, a structure where the price consolidates between converging trendlines after a sharp drop, usually leading to further decline.
This pattern formed after XRP’s recent rejection near $2.40 and a series of lower highs with stable lows around $2.15. The consolidation sits below the 50-day EMA ($2.25), which now acts as dynamic resistance.
If the pattern breaks down, the measured move suggests a 28% drop from the current price of $2.24, targeting around $1.74, matching the previous support zone marked on the chart.
Volume has declined within the pennant, aligning with textbook behavior before breakdowns. Additionally, the price remains under bearish pressure due to repeated failure to hold above the 50-day EMA.
If sellers gain momentum and volume increases on a breakdown, XRP may retest the $1.74 zone. However, a breakout above the upper trendline near $2.40 would invalidate the setup. For now, the chart supports a bearish outlook with a downside bias.