PANews reported on January 31 that according to an official announcement, Canadian asset management company Purpose Investments Inc. has submitted a preliminary prospectus for the world's first Ripple (XRP) spot ETF to Canadian securities regulators. The ETF plans to invest most of its assets in XRP, aiming to provide investors with long-term capital appreciation opportunities under a regulated framework. Purpose Investments manages assets of over US$23 billion and has previously launched the world's first Bitcoin and Ethereum ETFs. Company founder Som Seif said that the growth in XRP's institutional adoption has prompted this product innovation, and the ETF will lower the threshold for investor participation. If ultimately approved, the product will need to be reviewed by the Canadian Securities Commission, and specific transaction fees and risk terms will be subject to the final prospectus.