"Purpose Accelerates Launch of Ripple ETF… Submits Preliminary Prospectus to Canadian Securities Authorities"

Minseung Kang

Summary

Purpose Investments reported that it has submitted a preliminary prospectus to the Canadian securities authorities to launch a Ripple ETF.
The ETF is expected to operate by investing most of its assets in XRP for the long term.
With the increasing adoption of Ripple and growing interest from institutional investors, ETFs will play an important role in accessing assets in a regulated environment.

Canadian asset management firm Purpose Investments has submitted a preliminary prospectus to the Canadian securities authorities to launch a Ripple Exchange-Traded Fund (ETF).

According to Globe Newswire on the 31st, Purpose Investments announced that it has submitted a preliminary prospectus for the 'Purpose Ripple ETF' to the Canadian securities regulatory authorities. This ETF is expected to operate by investing most of its assets in Ripple (XRP) for the long term.

A preliminary prospectus is an initial document submitted for regulatory review before a new financial product is launched in the market. This document includes the product's structure, investment strategy, revenue model, and risk factors.

Som Seif, CEO of Purpose Investments, stated, "Ripple's adoption is increasing, and institutional investors' interest is growing," adding that "ETFs will play an important role in accessing assets in a regulated environment."

XRP