Canada’s First Spot XRP ETF Jumps Nearly 38% Since Launch

Altcoins

North America’s first spot XRP exchange-traded fund is delivering strong returns despite ongoing market volatility.

The Evolve XRP ETF (XRP.U), listed on the Toronto Stock Exchange, closed Tuesday at $13.53, up 3.2% on the day and 37.6% higher since its June 18 debut. On Wednesday it closed at $13.51.

The product, launched by Evolve Funds Group, is the second spot XRP ETF worldwide, following Brazil’s Hashdex fund.

ETF Options and Fees

Evolve offers the ETF in multiple versions, including CAD-hedged (XRPP) and CAD non-hedged (XRPP.B), with management fees capped at 0.89%. While the fund initially tracked XRP’s choppy performance, recent gains have shifted investor sentiment in its favor.

U.S. Approval on the Horizon

Attention now turns to the United States, where several asset managers—including Franklin Templeton, WisdomTree, Grayscale, 21Shares, CoinShares, Canary, and Bitwise—are awaiting decisions on their own spot XRP ETF filings.

Bloomberg Intelligence analysts estimate a 95% chance of approval this year, with key deadlines between October 18 and October 25.

If greenlit, the funds would list on Cboe’s BZX Exchange, potentially accelerating institutional adoption and adding momentum to XRP’s market performance.

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Author

Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.

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Source: https://coindoo.com/canadas-first-spot-xrp-etf-jumps-nearly-38-since-launch/