Hovering around its all-time high, Bitcoin in 2025 is pushing deeper into mainstream markets as financial institutions across Canada and around the world continue to increase their product offerings in the cryptocurrency space.
Perhaps the most telling signal that Bitcoin is mainstream is its rapidly rising presence as an ETF asset.
That is partly because the simple, low-fee structures of ETFs are attractive to many retail investors who would have otherwise avoided Bitcoin as an asset due to the complexity of buying and holding it. Another reason is that ETFs are fully regulated and compliant with financial laws, unlike the grey market days of olde, rendering Bitcoin more legitimatized in the eyes of prior skeptics.
Four years ago, Purpose Investments made history by launching the Purpose Bitcoin ETF, the world’s first Bitcoin ETF backed by physically settled Bitcoin. Since then, many financial firms have launched Bitcoin products.
Toronto’s Evolve Funds Group, for example, unveiled this year the Evolve Levered Bitcoin ETF and the Evolve Levered Ether ETF on the Toronto Stock Exchange, which aim to offer investors leveraged exposure to bitcoin and ether.
Building on Bitcoin and Ethereum offerings, Evolve this month is launching an XRP ETF.
Developed by Ripple Labs back in 2012 as a low-cost cross-border payments technology, XRP is today the fourth-largest coin by global market cap at $140B—well ahead of many alternative coins but also still far behind the mainstream adoption of Bitcoin, whose market cap is north of $2 trillion.
“XRP is built for real-world utility, enabling fast, low-cost cross-border payments and decentralized exchange functionality,” explains Elliot Johnson, Chief Investment Officer at Evolve.
Set to begin trading this week, Evolve Funds’ new XRP ETF boasts a simple objective: the fund holds physical XRP so investors can carry the cryptocurrency in a brokerage account. Evolve says the fund will invest in long-term holdings of XRP, purchased through Coinbase and “other reputable XRP trading platforms.”
“With growing institutional adoption and greater regulatory clarity, we believe XRP is well-positioned as infrastructure for the future of finance,” stated Johnson.
Evolve Funds Group has $7B in assets under management.
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