Purpose files preliminary prospectus for spot XRP ETF

Purput Investments, an asset management company with more than $ 23 billion in assets, has deposited a preliminary prospectus requesting regulatory approval for the launch of an XRP negotiated fund.

The ETF proposed to Purpose Ripple aims to provide investors with long -term exposure to XRP (Xrp) and an opportunity to benefit from the appreciation of the capital of the assets, according to a announcement

Purpose Investments submitted the preliminary prospectus to Canadian securities regulators. The deposit comes shortly after the company also asked for the list of a Solana spot (GROUND) ETF Spot.

Som Seif, chief executive officer of purposes investments, noted that the continuous adoption of XRP could stimulate demand for an investment product to the point.

“As XRP sees an increase in adoption and institutional interest, we believe that FNB can offer investors a transparent and familiar way to access it in a regulated framework,” he noted.

In the United States, several requests have had several requests for an XRP negotiated fund, recent regulatory changes encouraging issuers to move forward.

Grayscale, Coinshares and Bitwise are among the asset managers who have applied to launch negotiated funds in exchange XRP. The other upper cryptocurrencies attracting the applications ETF Spot include Solana, Litecoin and Dogecoin.

These developments have accelerated following leadership changes to the American Commission Securities and Exchange, in particular the departure of the former president of SEC, Gary Gensler.

Investments for use launched the world First Bitcoin Etf After obtaining approval from Ontario titles in February 2021.

Meanwhile, asset managers based in the United States had to wait until January 2024 for the approval of the Securities and Exchange Commission. Since then, the funds negotiated in exchange for Bitcoin Spot in the United States have attracted more than $ 121 billion in assets.