Purpose Investments has announced that it has submitted a preliminary prospectus to the Canadian securities regulatory authorities for a Ripple ETF.

BlockBeats News, February 3rd, according to Globe Newswire, Purpose Investments Inc. announced that it has filed a preliminary prospectus with the Canadian securities regulators for a Ripple ETF.

The Purpose Ripple ETF is designed to invest a majority of its assets in Ripple ("XRP") for long-term holding and aims to provide ETF shareholders with an opportunity for long-term capital appreciation.