Purpose Investments, an asset manager with over $24 billion in assets under management, has announced the launch of its Purpose XRP exchange-traded fund on June 18, 2025.
The Canada-regulated firm announced on Monday, June 16 that it had secured the final approval for its Purpose XRP ETF prospectus. With this approval Purpose can now unveil its Ripple (XRP) ETF for public trading on the Toronto Stock Exchange, a milestone that will see the asset manager launch the fund under the ticker XRPP.
“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” said Vlad Tasevski, chief innovation officer at Purpose Investments.
According to the announcement, the spot XRP ETF will go live on the TSX on Wednesday, June 18, 2025.
The fund will offer direct exposure to spot XRP, with availability in Canadian dollars, CAD-hedged under the ticker XRPP and CAD non-hedged under XRPP.B. Investors can also access U.S. dollar units under the ticker XRPP.U.
Users will be able to hold the ETFs in registered accounts, including Tax-Free Savings Accounts and Registered Retirement Savings Plans, both widely used savings tools in Canada.
Purpose Investments’ announcement that its on the verge of launching the XRP ETF comes several months after the company filed its prospectus for approval. Launch on the Toronto Stock Exchange will add to the rollout of a spot XRP ETF in Brazil earlier in the year.
While these are notable milestones for altcoin-based ETFs, most of the anticipation remains focused on developments in the United States.
The U.S. Securities and Exchange Commission approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs in 2024.
However, the regulator has yet to greenlight any other altcoin-related exchange-traded fund. In recent weeks, though, the agency has taken steps that suggest the likelihood of XRP, Solana, and Litecoin ETFs reaching the U.S. market in 2025 has significantly increased.
Asset manager Purpose Investments is set to launch a spot XRP
exchange-traded fund (ETF) in Canada this week after obtaining regulatory approval, giving investors a way to gain exposure to the fourth-largest cryptocurrency by market capitalization through traditional investment accounts.
The ETF will start trading on the Toronto Stock Exchange on Wednesday, June 18, under the XRPP ticker, according to a Monday press release. The move comes after the Ontario Securities Commission (OSC) granted final prospectus receipt for the investment vehicle, the company said.
XRP was up nearly 7% over the past 24 hours following the news, outperforming bitcoin
and the broad-market CoinDesk 20 Index.
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“The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem,” Vlad Tasevski, chief innovation officer at Purpose Investments, said in a press release.
Purpose Investments in 2021 launched in Canada the world’s first spot bitcoin ETF, years before the vehicles’ approval in the U.S.
TORONTO, June 16, 2025 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) (“MediPharm” or the “Company”), a pharmaceutical company specialized in precision-based cannabinoids, wishes to respond to a misleading press release published earlier today by Apollo Technology Capital Corporation (“Apollo”) prematurely claiming that it considers the results of the annual and special meeting of shareholders scheduled to take place at 3:00 p.m. today (the “Meeting”) to be a clear victory for Apollo.
MediPharm wishes to assure its shareholders that as the Meeting has not yet taken place, the results are not yet available. MediPharm will announce the final results of the Meeting in the ordinary course as is required by law and the rules of the Toronto Stock Exchange.
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Adriatic Metals receives $2B acquisition offer from Dundee Precious Metals
Shares surge on both ASX and LSE following the announcement
Deal includes flexible cash and stock mix for shareholders
Adriatic Metals (ASX:ADT) shares saw a sharp rise after Toronto-listed Dundee Precious Metals (TSX:DPM) announced a proposed acquisition valued at US$1.25 billion. The strategic move has sparked significant interest in the market, with investors reacting to what could be a transformative deal for both mining companies.
Market Reaction Across Exchanges
The announcement, made late Friday, drove Adriatic Metals’ share price on the Australian Securities Exchange (ASX) up by 8.4% to AU$5.42 by mid-afternoon trading. On the London Stock Exchange (LSE), shares closed at £2.63, marking a 9.2% gain on the same day. This momentum reflects growing investor confidence in the potential synergies between the two firms.
Premium Valuation and Deal Structure
Under the terms of the agreement, Adriatic shareholders are to receive AU$5.56 per ASX share and £2.68 per LSE share. These figures represent notable premiums of 47.8% and 50.5%, respectively, over the prices before the offer period commenced on 20 May.
The acquisition will be executed via a UK scheme of arrangement and is expected to become effective in the fourth quarter of 2025. A mix-and-match facility is part of the transaction, giving Adriatic shareholders the option to receive either cash or new DPM shares—or a combination—tailored to their preference. The total cash component will be approximately £321 million, with 54.9 million new shares of DPM issued at a valuation of CA$20.33 per share, based on the 11 June closing price.
Strategic Synergies and Growth Outlook
The acquisition would bring Adriatic’s flagship silver project in Vareš, Bosnia and Herzegovina under Dundee Precious Metals’ expanding portfolio. According to executives from both companies, the merger is expected to create a stronger mining business with long-term value potential.
Laura Tyler, CEO of Adriatic, commented on the strategic alignment, citing shared strengths in asset quality and operational capabilities. Dundee’s CEO, David Rae, also emphasized the opportunity to unlock above-average returns through this union.
This development comes at a time when the ASX200 index is showing increasing traction in the resources sector, reflecting growing interest in companies poised for growth within the commodities space.
As the deal progresses toward completion, market participants are likely to keep a close eye on regulatory steps and shareholder meetings scheduled over the coming months.
BMO Global Asset Management has launched the Alpha Managers Hedge Fund, designed in collaboration with Goldman Sachs Asset Management.
The new fund for accredited investors combines strategies from global hedge fund managers to deliver low volatility and less correlated returns relative to traditional asset classes, BMO said in a release.
Separately, BMO Asset Management launched the BMO Human Capital Factor US Equity ETF (Cboe: ZHC).
The ETF aims to provide long-term capital appreciation by investing in U.S. equity securities from companies that score highly in human resource management. It seeks to link company culture to equity performance.
BMO Asset Management will select securities using a methodology developed by Irrational Capital LLC, which considers factors such as direct managerial relationships, organizational alignment, engagement, extrinsic motivation and emotional connection.
ATB introduces two new funds
ATB Investment Management Inc. announced two new funds: the ATB Monthly Income Portfolio and the ATB Global Equity Pool.
The ATB Monthly Income Portfolio is designed for investors seeking stable, consistent income, such as those in retirement. The ATB Global Equity Pool targets investors looking for long-term growth and who are comfortable with global equity exposure.
Both funds consist of underlying funds managed in partnership with Canadian and U.S.-based firms, including Goldman Sachs Asset Management, Fiera Capital Corp. and Driehaus Capital Management.
“These new products align seamlessly with ATBIM’s established investment approach, which centres on strategic asset allocation, active investment management through diversification, and strong partnerships with specialized managers,” ATB said in a release.
Global X to close five ETFs
Global X Investments Canada Inc. will terminate five of its ETFs at the end of the business day on Aug. 19.
The affected ETFs are:
Global X Cybersecurity Index ETF (HBUG)
BetaPro Equal Weight Canadian Bank 2x Daily Bull ETF (ATMU)
BetaPro Equal Weight Canadian Bank 2x Daily Bear ETF (AYMD)
BetaPro Equal Weight Canadian REIT 2x Daily Bull ETF (RITU)
BetaPro Equal Weight Canadian REIT 2x Daily Bear ETF (RITD)
Beginning Aug. 11, no further direct subscriptions for the ETFs will be accepted, except in limited circumstances. The ETFs will be delisted from the Toronto Stock Exchange at the close of business on or about Aug. 13. All securities still held by investors will be subject to mandatory redemption.
CI proposes crypto staking strategy
CI Global Asset Management has proposed a staking strategy for the CI Galaxy Ethereum ETF (ETHX), which invests in the Ether cryptocurrency.
The proposal would allow the ETF to stake a portion of its Ether holdings to benefit unitholders by increasing total returns, CI said in a release.
CI is seeking unitholder approval to receive a portion of the net staking rewards. A unitholder meeting is scheduled for on or about Aug. 20. Full details will be available in July, with meeting materials to be mailed to unitholders on or about July 21, 2025.
Sapling launches M&A index
Sapling Financial Consultants released its Green Shoots M&A Index for Canada and the U.S. to predict M&A trends in the two markets, Sapling said in a release.
The index shows a rebound in U.S. deal flow, positioning Canadian M&A activity to follow, with growth forecast in June.
The index scored Canada at a predictive value of 44 and the U.S. at 43 out of 100. The number suggests a stable M&A environment with early signs of recovery. Canada had 241 M&A deals in May, whereas the U.S. saw 1,308. Sapling projects deals to increase to 247 in June for Canada and 1,388 in the U.S.
“Our models are forecasting a moderate uptick in activity, driven by improving domestic credit conditions and influence of U.S. deals,” Rob Hong, co-founder & CEO of Sapling Financial Consultants, said in a release.
Guardian Capital launches two bond funds
Guardian Capital LP has launched GuardBondsTM 2028 Investment Grade Bond Fund (GBFE) and GuardBondsTM 2029 Investment Grade Bond Fund (GBFF).
The two new ETFs, listed on Cboe Canada on June 3, are designed to provide a predictable stream of income and the option to hold to maturity.
The defined maturity ETFs are structured to hold a diversified portfolio of Canadian-dollar-denominated investment-grade bonds that mature in 2028 and 2029, respectively. The funds are actively managed and are expected to terminate on or about November 30 of their maturity year.
The funds aim to generate income over their lifespan by holding bonds to maturity rather than trading in and out of positions. Guardian Capital claimed that this structure can reduce price volatility and provide greater income predictability.
Wellington subsidiary partners with Fiera to launch investment fund
Independent Advisor Solutions Inc., a wholly owned subsidiary of Wellington-Altus Financial Inc., partnered with Fiera Capital Corporation to launch a new investment fund.
Canadian High Conviction Equities became available exclusively to Wellington-Altus advisors starting on June 9, 2025. Independent Advisor Solutions acts as investment sub-advisor for these portfolios.
Hamilton plans to launch three ETFs
Hamilton Capital Partners Inc. filed a preliminary prospectus with the Canadian securities regulators for three new ETFs.
The DayMAX ETFs are subject to regulatory approvals and aim to provide unitholders with income using zero-day-to-expiration options and a leverage of 25%.
Hamilton ETFs will apply for the conditional listing approval of the ETFs on the Toronto Stock Exchange and expects them to be listed as follows:
Hamilton Enhanced Technology DayMAX ETF (QDAY)
Hamilton Enhanced Canadian Equity DayMAX ETF (CDAY)
Hamilton Enhanced U.S. Equity DayMAX ETF (SDAY)
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Jonathan Got
Jonathan Got is a reporter with Advisor.ca and its sister publication, Investment Executive. Reach him at jonathan@newcom.ca.
