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.
One strong signal that Bitcoin is mainstream is its rapidly rising presence as an ETF asset.
Four years ago, Purpose Investments made history by launching the Purpose Bitcoin ETF in Canada. 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.
Building on Bitcoin and Ethereum offerings, Evolve this month launched an XRP ETF.
Developed by Ripple Labs back in 2012 as a low-cost cross-border payments technology, XRP is today the third-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.
Evolve is not the only one launching an XRP ETF in Canada, however.
This week, 3iQ unveiled its own XRP ETF on the TSX. Like Evolve’s ETF, 3iQ’s fund promises simple, secure exposure to XRP.
“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,” remarked Pascal St-Jean, CEO of 3iQ.
Since 2015, XRP’s price has climbed from $0.02 to over $2.19, an increase of more than 10,000%.
“XRP has demonstrated significant growth potential over the past decade,” St-Jean noted, “and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost and tax-efficient way to securely access that opportunity.”
3iQ’s new fund has already garnered investment from Ripple Labs.
“Ripple Labs’ investment support reflects our shared leadership in advancing the digital asset space,” said St-Jean.
Purpose Investments, which today has many crypto funds, also launched an XRP ETF in June.
“Canadian investors continue to look for simple, safe, and transparent ways to access the digital asset market, and the XRP ETF has been one of the most requested digital assets in our lineup, thanks to XRP’s design for fast, low-cost global payments,” commented Vlad Tasevski, Chief Innovation Officer at Purpose.
“With this launch, we’re not just adding another ETF–we’re expanding a platform built to reshape how Canadians access the future of finance,” the CIO stated. “Our track record in digital assets reflects a deep belief in blockchain’s real-world potential, and we remain focused on trust, access, and education to help investors and advisors navigate this evolving space with clarity and confidence.”
These ETFs transform XRP’s “real-world utility into a secure, investable format,” according to Paul Pincente, who serves Purpose as vice president of digital assets.
“We designed this ETF to remove the operational hurdles of managing crypto directly, offering investors access to XRP through a regulated ETF structure with institutional-grade custody,” he said. “It’s built for portfolios, backed by experience, and engineered to meet the growing demand for practical blockchain exposure.”
Purpose Investments holds over $24 billion in assets under management.
