North America’s first spot XRP ETF is unstoppable, posts almost 40% return
North America’s first spot XRP exchange-traded fund (ETF) is recording bullish returns despite recent volatility in the broader cryptocurrency market. The Evolve Funds Group Inc. Evolve XRP ETF (XRP.U), listed on the Toronto Stock Exchange, closed Tuesday’s session at $13.53, up 3.20% on the day. Since debuting on June 18, the ETF has surged 37.64%. Evolve XRP ETF price chart. Source: TradingView Notably, Canada’s pioneering spot XRP ETF followed Brazil’s Hashdex product, making it the world’s second spot XRP ETF. Like its Brazilian counterpart, the Canadian fund initially faced headwinds as XRP prices wavered. For investors, the Evolve ETF is available in multiple versions, including a CAD-hedged (XRPP) and a CAD non-hedged (XRPP.B) version, with management fees capped at 0.89%. Meanwhile, as the ETF posts strong gains, attention is shifting to U.S. regulators and the progress of multiple applications for a similar product. To this end, interest has accelerate...