Canada’s XRP ETF: Is the U.S. Still in the Stone Age?

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  • Canada approves first spot XRP ETF.
  • Ripple saw a 7x on-chain activity surge, hinting at potential Q3 breakout.

Well, well, well! Canada has decided to play the role of the overachieving sibling in the altcoin ETF family by becoming the first country to approve a spot Ripple [XRP] exchange-traded fund (ETF). Meanwhile, the U.S. SEC is still trying to figure out if it’s time to get out of bed. 🛌

Canada greenlights first Spot XRP ETF

Purpose Investments has received the green light from the Ontario Securities Commission to launch the XRP ETF, which is set to begin trading on June 18 under the ticker XRPP on the Toronto Stock Exchange. Yes, folks, you heard it right—Canada is officially ahead in the crypto race, and they didn’t even have to bribe anyone with maple syrup! 🍁

The ETF will come in CAD-hedged, CAD unhedged, and USD options, making it as versatile as a Swiss Army knife. And guess what? It qualifies for inclusion in registered accounts like TFSAs and RRSPs. Because who doesn’t want to mix their retirement savings with a little crypto excitement?

After the announcement, XRP surged nearly 7% in 24 hours, briefly outshining Bitcoin [BTC]. Take that, Bitcoin! It’s like the little brother finally getting a chance to shine at the family talent show. 🎤

Vlad Tasevski, Chief Innovation Officer at Purpose Investments, had this to say:

“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem.”

He added,

“We’re proud to continue pushing the boundaries of what’s possible in the space by offering investors simple, secure access to the infrastructure powering real-world blockchain adoption.”

The U.S. still holds back

Meanwhile, in the U.S., the SEC has decided to extend its review of Franklin Templeton’s proposed spot Solana [SOL] and XRP ETFs, pushing the decision timeline into late 2025. Because why rush when you can take your sweet time, right? ⏳

This delay highlights the SEC’s intent to conduct deeper evaluations on market safeguards and regulatory compliance. Or maybe they’re just really into paperwork. Who knows?

However, despite the regulatory holdup, optimism remains strong. Prediction market Polymarket reflects a 90% probability that a Ripple ETF will be approved within the year. So, there’s that! Investors are feeling confident, or maybe they just really like to gamble. 🎲

XRP price impact and way ahead

That being said, despite XRP’s initial 7% surge following Canada’s spot ETF approval, the token has since corrected, trading at $2.15 at press time, after a 3.49% dip in the last 24 hours, according to CoinMarketCap. It’s like watching a rollercoaster—thrilling, but you might want to hold on tight! 🎢

However, recent on-chain data from AMBCrypto reveals a promising shift. Ripple has experienced a 7x surge in activity, with larger wallets accumulating and network engagement rising. It’s like a party, and everyone’s invited! 🎉

So, if this momentum continues, XRP could be positioning itself for a significant breakout in Q3, moving closer to becoming a long-term asset of institutional relevance. Fingers crossed, folks! 🤞

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2025-06-18 14:23