Canada Expands XRP Options into US Market
Canada's financial market has once again taken the lead in embracing cryptocurrency. This time, it's about XRP (XRP). The Canadian Derivatives Clearing Corporation (CDCC) announced that options on two domestic XRP ETFs, Evolve $XRP ETF and Purpose $XRP ETF, have been registered for sale in the US market under Form S-20.
This move follows a regulatory shift, where the SEC and CFTC classified XRP as a qualifying digital commodity. This classification allowed US institutions to trade XRP's volatility through Canadian exchange-traded contracts.
Canadian banks have cautiously started adding XRP exposure to their disclosures. National Bank of Canada reported a $330,000 stake in the regulated Bitwise $XRP ETF, while Bank of Montreal (BMO) disclosed investments in XRP products as part of its diversification strategy.