The purpose of investments, the Canadian Asset Director, officially presented a preliminary bulletin today to launch the first XRP (ETF) exchange on the Toronto Stock Exchange.
This is a race against the United States, where many companies have already been presented but not approved yet. In their press statement, the purpose of investments said that they are betting on Canada will reach there first.
According to what is mentioned, XRP ETF plans to hold a long -term Ripple (XRP) assets and gives investors an easy and profitable means of profit from XRP growth. “Since XRP sees the increase in adoption and institutional interests, we believe that ETF can provide investors a transparent and familiar way to reach it in an organized framework,” He said Som Seif, CEO of Investments.
He fights gray for the approval of XRP ETF in the United States
Meanwhile, in America, ashes investments submitted a request on January 30, to convert the current XRP confidence to ETF. They submitted the proposal to the New York Stock Exchange for stocks and took advantage of Coinbase Custody Trust Company as their official guardian.
GrayScale runs $ 16.1 million in XRP through its current confidence, and converting it to ETF would allow it to expand access to more investors. The company is optimistic that they believe that the Supreme Education Council will finally budge under a new organizational leadership.
“We believe that TRST shares to include and trade the stock exchange as an ETF image will provide investors a means of investing in XRP on the National Stock Exchange,” said Michael Sonsninne, CEO of Grayscale.
Coinshares and BitWise join the battle
Coinshares, a major European digital asset manager, has also provided ETF XRP. Their Organized request was struck in early January 2025, although they were tight about where the box or the amount of XRP they plan to manage.
So as not to be excluded, Management BitWise Asset also provided its XRP ETF app at the same time as Coinshares. BitWise, a great player in the encryption index, wants to take advantage of its reputation for approval.
But like Coinshares, they kept many details under the winding, and with Canada’s faster movements, American companies seem to be at risk of land loss. It will not be the first time, as we saw with Bitcoin, Ethereum and even Solana Investment Funds.
The sudden impulsion of XRP ETFS follows the legal victory of Ripple against the US Securities and Stock Exchange Committee (SEC) and also the return of the “President of encryption” Donald Trump to the Oval Office.
After Gary Ginsler stepped down the position of SEC’s chairman, Trump Mark Oida appointed as a prosecutor so that Paul Atkins (who is very supportive of profit) can take over after his assertion in the Senate. This change in driving makes the informed people hope that the Supreme Education Council will become a friend of encryption.
According to Polymarket, there is an 82 % chance that the United States agrees to ETF at least XRP in 2025. In January, this prediction reached 89 % after Trump’s opening, but it decreased slightly as the Supreme Education Council continued to review requests.
More than half of the Polimatic participants expect the first approval to come by July 31, 2025. If this happens, Grayscale, Coinshares, and BitWise can get their chances – but Canada is placed to steal the global lights if the purpose application is approved first.
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