Purpose Investments Submits Preliminary Prospectus for XRP ETF

Purpose Investments Inc., the firm behind the world’s “first” Bitcoin ETF and Ether ETFs, says it is further solidifying its presence in the digital asset space with the filing of a preliminary prospectus with Canadian securities regulators for the proposed launch of the Purpose Ripple ETF.

The Purpose Ripple ETF seeks to invest substantially “all of its assets in long-term holdings of Ripple (XRP) and to provide holders of ETF Units with the opportunity for long-term capital appreciation.”

It should now be expected that similar products will be introduced in many other jurisdictions, particularly in the United States. With the return Trump Administration, we can also expect a more crypto-friendly environment globally, which may support innovations in areas like AI, web3, and Fintech.

Som Seif, founder and CEO of Purpose Investments, said:

“At Purpose, we remain steadfast in our commitment to innovation and to bridging the gap between traditional and decentralized finance. As XRP sees increasing adoption and institutional interest, we believe an ETF can offer investors a transparent and familiar way to access it within a regulated framework.”

Vlad Tasevski, Chief Innovation Office,r said:

“This launch represents another important step in our efforts to be the leading and most trusted partner for investors in harnessing the benefits of crypto and digital assets by enabling them to understand, access, and confidently invest these assets. We remain committed to providing exposure to transformative digital assets and blockchain technologies through regulated investment vehicles.”

As noted in the update, Purpose Investments is an asset management company with reportedly more than $23 billion in assets under management (AuM).

Purpose Investments claims that it has a sharp focus on client-centric innovation and offers “a range of managed and quantitative investment products.”

Purpose Investments is reportedly being led by business entrepreneur Som Seif and is a division of Purpose Unlimited, which is described as an independent technology-driven financial services company.



Sponsored Links by DQ Promote

 

 

 
Send this to a friend