Gate News bot message, Canadian company Evolve Funds Group Inc., managing $7 billion in assets, announced on June 16 that it has submitted a final prospectus to launch the Evolve XRP ETF on the Toronto Stock Exchange (TSX). The XRP exchange-traded fund (ETF) is expected to begin trading on June 18, with stock codes XRP (CAD Unhedged) and XRP.U (USD), pending final approval from the TSX.
The asset management company explained that the fund’s stock code is XRP, which is named after the cryptocurrency it tracks. The investment objective is to hold almost all of its assets in the form of physical XRP to provide investors with a safe and convenient way to hold cryptocurrency in their brokerage accounts.
Evolve’s Chief Investment Officer and Chief Operating Officer Elliot Johnson stated: “XRP is built for real-world utility, enabling fast, low-cost cross-border payments and decentralized trading functions.”
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