In the grand chess game of cryptocurrency, Purpose Investments, a venerable Canadian asset manager with a trove of $23 billion, has decided to leap into the XRP ETF fracas. With a sly wink and a nod to the local securities hounds, they’ve submitted their initial paperwork, aiming to mint the world’s first ETF based on the glittering allure of spot XRP.
Oh, the audacity! Purpose Investments, nestled in the frosty climes of Canada, has tossed its hat into the ring with a preliminary prospectus, courting the regulators for the launch of the Purpose Ripple ETF – an audacious attempt to be the first to encapsulate the XRP dream within the confines of an exchange-traded product.
🚀 Innovation, thy name is digital asset investing. With a twirl of our mustaches, we proudly present our preliminary prospectus for the world’s first Ripple (XRP) ETF – because who doesn’t want a piece of that crypto pie?
Indulge your curiosity:
The Purpose Ripple ETF plans to sink its teeth into the succulent flesh of long-term XRP holdings, offering ETF Unit holders a tantalizing promise of long-term capital growth without the pesky need to fondle actual XRP coins.
Som Seif, the maestro behind Purpose Investments, is positively beaming at the prospect of the XRP ETF elevating Canada’s status in the crypto adoption hierarchy:
At Purpose, we are the steadfast knights of innovation, bridging the chasm between the old world and the newfangled decentralized finance. As XRP seduces more and more institutions, we say – let them eat ETF cake!
According to the glossy pages of Purpose Investments’ official web domain, they’re also slinging exchange-traded wares on Bitcoin (BTC) and Ethereum (ETH), along with some nifty “yield-focused” crypto ETFs that promise up to 13.3% APY – a veritable honey trap for the sweet-toothed investor.
In the realm of TradFi ETFs, the company peddles an assortment of products, from tech titans to credit capers, cash curios, and even a dash of private equity for good measure.
Vlad Tasevski, the Chief Innovation Officer, is all aflutter about Purpose Investments’ bold foray into crypto-centric products:
We are the unyielding guardians of digital assets and blockchain wizardry, offering our investors a regulated magic carpet ride into the future.
As the crypto sages at U.Today have foretold, XRP ETFs may soon dance in the regulatory sunlight. Top soothsayer Nate Geraci predicts XRP will join the esteemed ranks of cryptos with their own ETF fanfare.
While the crypto circus eagerly awaits ETFs for Solana (SOL), Litecoin (LTC), and Cardano (ADA), it seems XRP, with its near-victory against the SEC, is the elephant in the room – and it’s ready to trumpet its triumph.
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2025-01-31 18:25