Hi. It is not often I make a finance post but here is one by me.
In this post I provide an overview of the 3 available XRP ETFs in Canada for Canadian investors.
Topics
- XRP ETFs As Alternative To Holding The Crypto Directly
- Evolve Funds Group Inc XRP ETF
- Purpose XRP ETF
- 3iQ XRP ETF
- Notes
XRP ETFs As Alternative To Holding The Crypto Directly
I do have mixed thoughts on Exchange Traded Funds (ETFs). An ETF is an investment fund that holds a collection of assets such as stocks, bonds, commodities, etc. Instead of the investor holding the assets directly, you put money in a fund that buys and hold the assets.
For the case of XRP, the XRP ETF fund would involve the company buying and holding the XRP. The investor has exposure to XRP but does not hold XRP itself. For me, I would prefer to hold the underlying XRP and put into cold storage. Some people are not interested in buying crypto on an exchange and then transferring the crypto into a cold storage wallet. For them it is either scary, it sounds too complicated and/or it is too much work.
Crypto ETFs allows investors to have exposure to crypto without owning the crypto itself.
Evolve Funds Group Inc XRP ETF
Evolve ETFs is based in the downtown Toronto area. They have 2 XRP ETFs. The first one has the ticker XRP with the currency in CAD. The second one has the ticker XRP.U with the USD currency.
The price of the XRP ETF is not the same as the Canadian price of XRP. One share of the XRP ETF is 9.64 CAD as of June 27. This is worth around 3.3 XRP.
This ETF involves XRP holdings acquired from Coinbase and other reputatable exchanges.
The holdings amount is hard to find. You have to dig through and download their Holdings spreadsheet in the Portfolio section. I got 5.8 million XRP in their fund. I could be wrong here.
Purpose XRP ETF
Purpose Investments is another Toronto investment firm with their own XRP ETFs. They have 3 XRP ETFs. These are:
- XRPP (FX Hedged)
- XRPP.B (non-FX Hedged)
- XRPP.U (USD ETF)
Note that FX = foreign-exchange.
As of June 27, 2025, this fund has 7 738 136.422 XRP in cold storage. This amounts to 22.3 million CAD or 16.3 million USD. Until February 2026, there is no management fee. After February 2026, there will be a 0.69% management fee.
3iQ XRP ETF
3iQ is also based in the Toronto area. They claim to be a global leader in digital asset investing. They have two XRP ETFs in the form of XRPQ and XRPQ.U. Both ETF stocks are found on the Toronto Stock Exchange (TSX).
Notes
All 3 XRP ETFs providers have their offices in the Toronto, Ontario, Canada area. As these XRP ETFs are new, investing in these ETFs can be viewed as risky. For those who are bullish on XRP in the long-term may consider putting some funds in one of these ETFs.
These XRP ETF stocks can also be purchased into your Tax Free Savings Accounts (TFSAs). Captial gains in TFSAs are tax-free as long as you don't go over contribution limits and trade too much in there. TFSAs are great in avoiding getting taxed on 50% of your capital gains (does not mean 50% tax!).