Category: Canada

Here’s how world’s second XRP spot ETF has performed since launch

Written by Paul L. on . Posted in Canada. Leave a Comment

Canada’s first spot XRP exchange-traded fund (ETF), launched by Purpose Investments under the ticker XRPP.U, has had a tough start since debuting on the Toronto Stock Exchange (TSX) on June 18.

This product is the world’s second spot XRP ETF, following Brazil’s Hashdex offering.

Notably, the Purpose XRP ETF closed 1.63% lower at $9.68 on Friday, June 20, 2024, extending its post-launch decline as light trading kept it near its session low.

Purpose XRP spot ETF chart. Source: TradingView

Since its launch, the new fund, also available in CAD-hedged (XRPP) and CAD non-hedged (XRPP.B) versions, has mostly trended lower, reflecting XRP’s overall market performance. 

This aligns with the performance of the Brazilian ETF, which has fallen about 7.50% since its debut, partly due to weaknesses in the underlying XRP token.

Purpose’s new ETFs have a management fee of 0.69%, capped at 0.89%, with any savings passed on to investors. For Canadians, the funds can also be held in tax-friendly accounts like TFSAs and RRSPs, giving investors easy crypto exposure within traditional portfolios.

These new products have had little effect on XRP’s price so far, likely because Canada and Brazil have much smaller financial markets than the United States.

Looking ahead, U.S. regulators are paying more attention to launching their spot XRP ETFs, with several applications under consideration. 

To this end, the Securities Exchange Commission (SEC) recently invited public comments on Franklin Templeton’s and WisdomTree XRP Trust’s proposed XRP and Solana ETFs. If approved, these ETFs would trade on Cboe’s BZX Exchange.

XRP price analysis 

Meanwhile, both existing XRP ETFs continue to trade in sync with XRP, which is under bearish pressure. At press time, the asset was valued at $2.13, down nearly 1%, and over the past week, it has lost about 1.7%.

XRP seven-day price chart. Source: Finbold

From a technical perspective, XRP is trading below its 50-day simple moving average (SMA) of $2.30. This shows short-term weakness and sustained downward pressure. However, it is still well above its 200-day SMA of $1.85, indicating that its long-term uptrend remains intact and the broader outlook is still positive.

Additionally, the 14-day Relative Strength Index (RSI) is at 45.07, a neutral level that suggests XRP is neither overbought nor oversold.

Featured image via Shutterstock

Morguard Corporation (MRC) Closes The Market

Written by Date on . Posted in Canada. Leave a Comment

(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – June 20, 2025) – Angela Sahi, President and Chief Operating Officer, Morguard Corporation (“Morguard” or the “Company”) (TSX: MRC), and her team, joined Dani Lipkin, Managing Director, Global Innovation Sector, Toronto Stock Exchange (“TSX”), to close the market and celebrate the Company’s 60+ years listing anniversary on TSX – originally as Acklands Limited, renamed Morguard Corporation in 2002 – and 50-year anniversary of Morguard Investments Limited.

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Morguard, a fully integrated real estate company with $18.7 billion in assets under management and 1,100 professionals, owns, manages, develops, and provides advisory services to high-quality, well-located assets across North America. Morguard also currently owns a 67.0% interest in Morguard Real Estate Investment Trust and a 47.9% effective interest in Morguard North American Residential Real Estate Investment Trust. For half a century, Morguard has dedicated themselves to creating value, fostering partnerships, and delivering excellence across North America.

MEDIA CONTACT:
 Susanne DesRochers
Head of Marketing and Communications
…
416-312-4670



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SOURCE: Toronto Stock Exchange

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Bloomberg analysts raises the odds for XRP, ADA, and DOGE ETFs approval to 90%

Written by Florence Muchai on . Posted in Canada. Leave a Comment

Bloomberg analysts James Seyffart and EricBalchunas have raised the odds for altcoin exchange-traded funds (ETFs) approval to 90% following recent engagement with the US Securities and Exchange Commission (SEC). The analysts are confident in spot XRP, Dogecoin, and Cardano ETFs.

“Eric Balchunas and I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher,” Bloomberg ETF Analyst James Seyffart said on X. “Engagement from the SEC is a very positive sign in our opinion.”

It all began with the approval of spot BTEC ETFs, which received a green light in 2024 after years of deliberation. It allowed investors to own BTC in traditional financial products directly. With the growing interest in crypto investments, the potential approval of spot altcoin ETFs could further expand the market.

Several spot crypto ETF filings are now awaiting approval from the pro-crypto SEC. Others are LEFT, Cardano, Polkadot, HBAR, Avalanche, and SUI—Paul Atkins, who became the agency’s new chairman in April. Since taking over, Atkins has promised a friendlier approach to digital assets.

The analysts noted that the SEC has already acknowledged the 19b-4 forms for these applications and likely views the underlying altcoins as commodities. They also pointed to Commodity Futures Trading Commission-regulated futures markets that already exist for many assets.

Polymarket aligns with Bloomberg’s prediction

On the Polymarket, a prediction site, users are now betting that the Ripple ETF will be approved by the end of the year. The odds are also at  90%. This is a 19% surge from the previous odds, which suggests that buyers are becoming more confident.

Currently, Bitcoin and Ethereum-based ETFs are a big part of the market. However, XRP’s progress toward becoming an ETF could provide good competition.

Ripple’s ETF 2025 approval odds: Source – Polymarket

If the ETF is approved, XRP would be bought and sold on traditional stock exchanges like any other security. Holders would not have to handle their crypto wallets directly. This makes it easier for small investors to enter and lets institutional capital come in without directly investing in crypto.

Analysts say approvals could arrive within weeks

The next few months could be very important for getting ready for what could be the biggest crypto event of the year. As for timing, analysts say approvals could arrive within weeks or closer to final deadlines later this year. Most applications have their final SEC decision dates in October and November.

However, earlier this week, the US SEC said it would take an extra 35 days to decide whether to accept or reject Franklin Templeton’s spot XRP filing. Instead, it opened a comment period for the ETF and proposed a spot Solana ETF from the same firm.

While there’s still a delay in approving the spot XRP ETF in the US, the 3iQ XRP ETF was launched on the Toronto Stock Exchange on Wednesday. As reported by Cryptopolitan, XRPQ started without a management fee for the first six months. 

This made it one of the most affordable digital asset exchange-traded funds (ETFs). It will only put money into long-term holdings of XRP bought from trustworthy over-the-counter (OTC) counterparties and digital asset trading sites.

Seyffart and Balchunas also assigned a 95% probability of approval to crypto basket or index ETF filings within the next six months by Grayscale, Hashdex, Bitwise, and Franklin Templeton. Several of these applications are approaching their final SEC deadlines in early July.

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Why XRP Could Be The Next Big ETF Bet And What Polymarket Traders Know That You Don’t

Written by Murtuza J Merchant on . Posted in Canada. Leave a Comment

Investor optimism surrounding a potential XRP XRP/USD exchange-traded fund (ETF) has reached new heights.

What Happened: Bettors on the Polymarket prediction platform are assigning an 89% chance of U.S. approval for XRP ETF by the end of 2025.

This surge in confidence, up from 70% earlier this year, reflects growing expectations that XRP could soon join Bitcoin BTC/USD and Ethereum ETH/USD in the ETF arena, potentially reshaping the altcoin market.

Trading activity on Polymarket has also intensified, with volumes exceeding $95,000, signaling strong market interest driven by regulatory developments and insider sentiment.

An XRP ETF would allow investors to gain exposure to the cryptocurrency through traditional stock exchanges, eliminating the need for managing digital wallets.

Also Read: Apple, Google and Facebook Among Services Exposed In Massive Leak of More Than 16 Billion Login Records

Why It Matters: If approved, an XRP ETF could serve as a pivotal moment for Ripple — the company that created it — and pave the way for greater institutional adoption.

For traders, anticipating ETF approval will likely fuel volatility, creating opportunities for significant price movements as the decision deadline nears.

Disclosure: 82% of retail CFD accounts lose money

However, the U.S. Securities and Exchange Commission (SEC) delayed its decision on Franklin Templeton‘s proposed spot XRP ETF by 35 days. Instead, it opted to open a public comment period.

This delay also affects Franklin Templeton’s proposed spot Solana ETF.

Despite the postponement, 3iQ XRP ETF was launched on the Toronto Stock Exchange on June 18 this year.

The rising odds of U.S. approval highlight a broader trend of cryptocurrencies transitioning into regulated investment vehicles.

Bitwise and Grayscale have also filed for XRP-related investment products. No approvals have been granted in the U.S. as yet.

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3iQ Lists First XRP ETF in North America

Written by Shanny Basar on . Posted in Canada. Leave a Comment

Brenda Hoffman, TMX

A landmark rollout further reinforces 3iQ’s track record as a trusted innovator in delivering regulated, first-to-market digital asset investment solutions.‍

Ripple, the leader in enterprise blockchain and crypto solutions, is an early investor in the fund.

The 3iQ XRP ETF (TSX: XRPQ, XRPQ.U), which launches with a 0% management fee for the first six months, provides exposure to a digital asset that has grown by 10,800% since January 2015.

3iQ rang the closing bell at the Toronto Stock Exchange to mark XRPQ’s first day of trading.

3iQ Corp., a global pioneer in digital asset investment solutions, is pleased to announce the launch of the 3iQ XRP ETF (TSX: XRPQ, XRPQ.U), which began trading on the Toronto Stock Exchange (TSX). The 3iQ team rang the closing bell on 18 June on the TSX floor to commemorate this historic launch. XRPQ is one of the first exchange-traded fund (ETF) in North America to provide investors with exposure to XRP, the third-largest digital asset by market capitalization.

Ripple, the leader in enterprise blockchain and crypto solutions, is an early investor in the fund. 3iQ’s new ETF enables investors to gain long-term exposure to XRP in a transparent and cost-effective way.

XRPQ debuts with a 0% management fee for the first six months, placing it among the most competitively priced digital asset ETFs. It will invest only in long-term holdings of XRP purchased from reputable digital asset trading platforms and over-the-counter (OTC) counterparties. The underlying assets will be fully secured in standalone cold storage. XRPQ is available for investment through registered accounts in Canada, and its TSX listing enables access for qualified investors globally, subject to local regulations.

“The launch of XRPQ marks another milestone in our mission to provide investors with convenient, cost-effective access to digital assets within a regulated framework,” said Pascal St-Jean, President and CEO of 3iQ. “XRP has demonstrated significant growth potential over the past decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost and tax-efficient way to securely access that opportunity. Ripple Labs’ investment support reflects our shared leadership in advancing the digital asset space.”

XRP is the native digital asset of the XRP Ledger, an open-source blockchain designed for high-speed, low-cost payments across borders. The XRPL consistently settles transactions in three to five seconds, with fees often less than a fraction of a cent. Since January 2015, XRP’s price has climbed from $0.02 to over $2.19, an increase of more than 10,800%. Ongoing regulatory clarity and growing institutional interest have positioned the XRPL to solve real-world use cases such as global remittances, liquidity management, and broader blockchain applications.

Earlier this year, 3iQ launched the 3iQ Solana Staking ETF (TSX: SOLQ), which invests in long-term Solana (SOL) holdings while delivering staking rewards. SOLQ quickly became the largest Solana ETF following its launch and as of June 12, 2025 has over $120 million USD in assets under management.

Source: 3iQ

Sunset of the Barbadian multinational company

Written by TSX Stocks on . Posted in Canada. Leave a Comment

DeLisle Worrell.

IN the Barbados Daily Nation newspaper of May 12, 2025, there is the headline “Top Sagicor execs paid $13.9m”. A visitor to Barbados might wonder why this would be of interest to Barbadian readers, because Sagicor is a wholly-owned Canadian insurance company; 50 per cent of its assets are in Canada, another quarter in the USA, and of the remainder, the largest share is in Jamaica, not in Barbados. None of the “top execs” referred to in the headline is Barbadian. Barbadians, however, will know that this modest-sized Canadian company is the modern incarnation of the Barbados Mutual Life Assurance Society, born in Bridgetown in 1840. By 1997 when the company’s history entitled The Rise of the Phoenix was published, it stood at the pinnacle of the Barbadian financial system.

In its heyday in the 1960s and 1970s, the managing directors of the Barbados Mutual were among the leading bankers and captains of industry and commerce whose remit covered all areas of finance and trade, not only in Barbados but throughout the Caribbean. Daily at lunchtime, these business leaders walked from their offices on Broad St to the Mutual’s distinctive cast iron headquarters building at the west end of the street, entering through an unobtrusive side door and heading upstairs to the Bridgetown Club. There they could enjoy a lunch that regularly featured the club’s famous fried melts and Bajan soup with sweet dumplings and breadkind, and take a sip or two of corn ‘n’ oil, as they discussed the region’s economic fortunes. In those days banks’ Eastern Caribbean offices located in Barbados had a wide scope of authority for the management of their local portfolios, and there were a sizeable number of Barbadian and regional companies with networks across the Caribbean, whose presence marked Bridgetown as a thriving financial and commercial centre.

Over the course of the 21st century much has changed. The Barbados Mutual’s directors and membership made the change from a mutual society to a corporation whose shares were traded on the regional securities exchanges. Over time, with different exchange rates and low trading volumes, especially on the Barbados exchange, it became more efficient to trade on a single larger securities exchange outside the Caribbean. This prompted the move to the Toronto exchange. Other Barbadian multinational firms and insurance companies have also made the decision to sell to Canadian interests. Yet others have failed or have been bought by regional or foreign interests.

The transformation of Sagicor has arguably made it a stronger company, by virtue of the extraordinary growth which the listing in Toronto has made possible. When the company was first listed on the Toronto Stock Exchange just six years ago its assets were a little short of US$9 billion; today it has grown to two and a half times that size. Backed by assets and reserves in the Canadian financial market, its capacity to cover risks may be even higher than the growth in its assets suggests. In addition, operating under the surveillance of the highly-regarded Canadian Office for Supervision of Financial Institutions lends Sagicor a degree of credibility beyond what Barbados and the rest of the Caribbean can offer. It was from that Canadian institution that the region learned supervisory skills.

Although the number of Barbadian-owned multinationals has dwindled, the services they once provided are still available. The Barbados Mutual Life Assurance Society is no more, but Sagicor Life provides Jamaicans, Barbadians and others in the Caribbean with the full range of insurance products available in the North American market. Commercial banks have curtailed personal banking services in favour of online banking and credit and debit cards, leaving credit unions and other non-banks as the main providers of face-to-face services. A wide variety of new trade and distributional channels are replacing the Caribbean’s traditional trading, wholesale and retailing businesses.

It may be that not much has been lost with the demise of the household names of the twentieth century, except the pride of local ownership.

DeLisle Worrell is a former governor of the Central Bank of Barbados. His Economic Letters may be found under “Commentary” at DeLisleWorrell.com.

Canadian Investor Relations Institute (CIRI) Closes The Market

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(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – June 19, 2025) – Nathalie Megann, CPIR, President & Chief Executive Officer, Canadian Investor Relations Institute (“CIRI”) along with members of the capital market community, joined Berk Sumen, CPIR, Managing Director, TSX and TSX Venture Exchange Company Services, to close the market to celebrate the start of CIRI’s 38th Annual Investor Relations Conference.

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CIRI’s Annual Conference is the second-largest gathering of IR practitioners in the world. Over two days of programming, the conference will bring together industry leaders and IR experts that offer their views and advice during numerous breakout sessions, panel discussions and presentations.

CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. With four Chapters and close to 400 members across Canada, CIRI is the world’s third-largest society of investor relations professionals.

MEDIA CONTACT:
Nathalie Megann, CPIR
President & Chief Executive Officer
CIRI
416.364.8200 x101
…



To view the source version of this press release, please visit

SOURCE: Toronto Stock Exchange

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Alkane–Mandalay merger clears key hurdle

Written by Dylan Brown on . Posted in Canada. Leave a Comment

Alkane Resources has received a key regulatory approval in Sweden for its proposed merger of equals with Mandalay Resources.

Alkane confirmed that Sweden’s Inspectorate of Strategic Products had approved the deal under the Swedish Foreign Direct Investment (FDI) Act.

The proposed merger, announced in April, will see Alkane acquire all issued and outstanding shares of Mandalay under a court-approved plan of arrangement under British Columbia law. Mandalay shareholders will receive 7.875 Alkane shares for each Mandalay share held.

Once complete, the merged entity will become an emerging mid-tier gold and antimony producer valued at around $1 billion.

Former Mandalay shareholders will own approximately 55 per cent of the company and Alkane shareholders will hold the balance on an undiluted basis.

“The transaction will take Alkane to a new level, bringing together two companies with complementary assets and a shared vision for growth,” Alkane managing director Nic Earner said in April.

“The combination of assets, leadership, and supportive long-term shareholders enhances our scale and financial strength and positions us well to continue to pursue additional growth opportunities.”

The proposed merger has been unanimously approved by the Alkane and Mandalay boards, with directors from both companies recommending that shareholders vote in favour of the transaction.

“The transaction presents a compelling opportunity for Mandalay shareholders to accelerate value creation through increased capital markets scale, liquidity and a growing diversified asset base,” Mandalay president and chief executive officer Frazer Bourchier said in April.

“We are excited to have found a like-minded partner committed to the same principles. The transaction aligns with our vision to create a mid-tier gold and antimony producer with mines in premier operating jurisdictions and with our strategy for continued growth.”

Once the transaction is completed, the merged entity will operate as ‘Alkane Resources’ on the ASX and the Toronto Stock Exchange exchange, the latter of which Mandalay is currently trading.

The transaction still requires approval from the British Columbian Supreme Court, the Foreign Investment Review Board of Australia and shareholders from both companies.

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XAO DAO is set to bring decentralized governance to XRP Ledger

Written by Ol on . Posted in Canada. Leave a Comment

XAO DAO has announced plans to launch the first decentralized autonomous organization (DAO) on the XRP Ledger. The Wyoming-based limited liability company (LLC) disclosed this on X, noting that it will bring a new era of decentralized innovation.

According to the announcement, XAO DAO is a next-generation governance engine for the XRPL network that will allow users to participate in the network governance.  The post highlighted why DAOs are important, noting that they promote transparent processes and empower users to participate actively.

XAO DAO is a for-profit entity co-founded by Fabio Marzella and Santiago Velez. With the DAO,  XRPL network users can become involved in its governance once they become a member and can vote on allocating network resources to support ecosystem projects and other proposals.

Interestingly, the DAO stated there is no plan to launch a token as the core focus is on real utility, and XRP remains the token.

It said:

“Our focus is on real utility, governance, grants, and community. Not meme charts and mystery pumps. Show up. Get involved. Help build. That’s the real value to help shape the future of the XRPL.”

Meanwhile, the post explained how voting would work, noting that voting value will be based on the amount of XRP held at the time of the snapshot, with all votes mattering equally. XAO DAO is yet to launch, but those interested in becoming members can already sign up for the waitlist.

How will the XAO DAO function

While the XAO DAO post focused on what the DAO brings to XRPL, popular XRP investor WrathofKahneman on X explained its purpose. He stated that XAO DAO is expected to provide a governance mechanism for distributing the 1 billion XRP that Ripple allocated to develop the XRPL ecosystem.

So far, Ripple has been handling the allocation of the grants to projects on XRPL. However, a newly formed XRPL Foundation is now set to take over that responsibility, and the Foundation will use the XAO DAO governance system to determine who gets the grant.

Interestingly, the XRPL Foundation’s bylaws give XAO DAO a board. The DAO, along with XRPL Commons, XRPL Labs, and Ripple Labs, are the founding members of the XRPL Foundation.

Meanwhile, XAO DAO founder Santiago Velez has explained that the DAO governance application will use both XRPL and the XRPL Ethereum Virtual Machine (EVM) sidechain. While the XRPL will be used to record membership of the LLC, the sidechain will be used to mint and burn governance tokens for each proposal and vote.

Decentralized governance could boost XRPL DeFi

With XRPL now set to support decentralized governance, many people in the XRP community have welcomed the news as a big step towards full decentralization. For them, it is a sign of maturity and could finally boost innovation and DeFi activity on XRPL.

While the network has been around for 13 years, it has struggled to generate significant activity compared to its peers. However, recent developments suggest that this could change. Since the XRPL APEX Conference,  the network has seen several integrations and more upcoming products.

Circle USDC recently expanded to the network, while Ondo Finance also launched tokenized US treasuries. Its EVM sidechain is also set to deploy soon.

Meanwhile, XRP itself is also positioned to increase adoption by TradFi and DeFi. On June 18, asset manager 3iQ launched an XRP exchange-traded fund (ETF) on the Toronto Stock Exchange. Several DeFi protocols are also developing products around XRP, and Flare Network plans to introduce FXRP on its mainnet. Firelight protocol also wants to launch a liquid staking derivative of the token stXRP.

All the interest and developments concerning XRPL and XRP have already boosted the network activity, with a 3-month average for active addresses now at 295,000. XRP has also held steady despite recent volatility and is up more than 1% today.

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Olympia Financial Group Inc. Announces Director Election Results from its 2025 Annual Meeting of Shareholders

Written by Newsfile on . Posted in Canada. Leave a Comment

Calgary, Alberta–(Newsfile Corp. – June 19, 2025) – Olympia Financial Group Inc. (TSX: OLY) (“Olympia“) announces that at its annual meeting of shareholders, held on June 18, 2025, the following seven (7) director nominees were elected:

NOMINEE VOTES FOR   VOTES WITHHELD   
Number Percent Number Percent
Richard Skauge 690,056 99.374% 4,349 0.626%
Craig Skauge 690,153 99.388% 4,252 0.612%
Gerard Janssen 688,269 99.116% 6,136 0.884%
Brian Newman 688,269 99.116% 6,136 0.884%
Antony Balasubramanian 685,762 98.755% 8,643 1.245%
Anthony Lanzl 690,962 99.504% 3,443 0.496%
Paul Kelly 663,689 95.577% 30,716 4.423%

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In addition, the re-appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of Olympia was approved.

VOTES FOR  VOTES WITHHELD
 Number  Percent   Number  Percent 
697,465 99.955% 315 0.045%

About Olympia Financial Group Inc.

Olympia conducts most of its operations through its subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick, and Nova Scotia. Olympia Trust Company administers self-directed registered plan accounts, corporate trust, and transfer agency services. Olympia also provides currency exchange and global payment services through its subsidiary Olympia Currency and Global Payments Inc., and offers private health services plans and information technology services to exempt market dealers, registrants, and issuers through its subsidiary Olympia Benefits Inc.

Olympia’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.

For further information, please contact:

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256156

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