Latest news with #Purpose
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
Purpose Investments Announces 0% Management Fee Until February 1, 2026, for Newly Launched Purpose XRP ETF
TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. ('Purpose' or 'Purpose Investments'), Canada's leading digital asset ETF manager and the firm behind the world's first spot Bitcoin ETF, today announced a management fee holiday for its newly launched Purpose XRP ETF . Effective immediately, the ETF's management fee will be fully waived until February 1, 2026. The Purpose XRP ETF offers investors spot exposure to XRP – the native token of the XRP Ledger, a decentralized blockchain built to enable fast, low-cost global payments. It is the only XRP ETF in Canada offering CAD-hedged units and is designed to help investors access digital assets securely and transparently through a regulated vehicle. 'XRP's real-world utility and global relevance continue to drive interest, and we want to make it even easier for Canadian investors to access this digital asset via ETF,' said Vlad Tasevski, Chief Innovation Officer at Purpose. 'By fully waiving the management fee until early 2026, we're reinforcing our commitment to simple and effective access to novel digital asset solutions that help investors cut through complexity.' All units of the ETF – CAD-hedged (TSX: XRPP), CAD non-hedged (TSX: XRPP.B), and USD (TSX: XRPP.U) – are included in the fee holiday. Additionally, to provide investors long-term confidence, following the fee holiday period ending in February 2026, the fund's total Management Expense Ratio (MER) will be capped at 0.89%*. To learn more about the Purpose XRP ETF and the full lineup of Purpose's digital asset solutions, please visit . About Purpose Investments Purpose Investments is an asset management company with over $24 billion in assets under management, focused on client-centric innovation across ETFs and investment funds. Purpose is a division of Purpose Unlimited, an independent financial technology company led by entrepreneur Som Seif. For further information, please email us at info@ . Media inquiries: Keera Hart 905-580-1257 *The MER cap is implemented at the discretion of Purpose Investments and is subject to change at any time. Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Copies of the Prospectus may be obtained from . There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated. Crypto assets can be extremely volatile, and there is no guarantee that the amount invested will be returned to you. Certain statements in this document may be forward-looking. Forward-looking statements ('FLS') are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'estimate' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
Purpose Investments Launches Purpose XRP ETF, Adding to Its Diverse and Growing Suite of Digital Asset ETFs
TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. ('Purpose'), the firm behind the world's first spot Bitcoin ETF and Canada's largest digital asset ETF manager*, is expanding its digital asset suite with the launch of the Purpose XRP ETF, now trading on the TSX under the ticker XRPP. The ETF offers spot exposure to XRP — the native token of the XRP Ledger (XRPL), a decentralized blockchain designed to enable fast, low-cost international payments and financial settlement. The ETF will be available in CAD-hedged (TSX: XRPP), CAD non-hedged (TSX: XRPP.B), and US dollar (TSX: XRPP.U) units. A Token Engineered for Impact. A Firm Committed to Access. '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,' said Vlad Tasevski, Chief Innovation Officer. '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. 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.' Designed for Real-World Use and Real Portfolios XRP stands out in a crowded digital asset landscape for its real-world use case and growing interest. As demand builds for blockchain solutions that go beyond speculation, the Purpose XRP ETF offers investors a clear, simplified way to gain exposure to an asset based on a network built for scale, speed, and financial infrastructure through a regulated, advisor-ready vehicle. Key Benefits 'The Purpose XRP ETF is a streamlined, advisor-ready solution that transforms XRP's real-world utility into a secure, investable format,' said Paul Pincente, VP of Digital Assets at Purpose Investments. '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. It's built for portfolios, backed by experience, and engineered to meet the growing demand for practical blockchain exposure.' From Bitcoin to XRP: An ETF Platform Built for the Future of Digital Investing Purpose offers the most expansive and diverse suite of digital asset ETFs in Canada — built to meet the needs of today's investors, whether they're tactically allocating, seeking long-term exposure, or generating income from crypto assets. The Purpose Digital Asset lineup includes: By redefining what digital asset investing looks like, Purpose is making it easier, safer, and smarter for investors to participate in a rapidly evolving space. As blockchain technology reshapes global finance, Purpose remains committed to bridging the gap between traditional investing and the decentralized future. About Purpose Investments Purpose Investments is an asset management company with over $24 billion in assets under management, focused on client-centric innovation across ETFs and investment funds. Purpose is a division of Purpose Unlimited, an independent financial technology company led by entrepreneur Som Seif. For further information, please email us at info@ . Media inquiries: Keera Hart 905-580-1257 *By digital asset ETFs under management as of April 24, 2025. The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this information, and any representation to the contrary is an offence. The information contained in this document is believed to be accurate and reliable; however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice. Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Copies of the Prospectus may be obtained from . There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated. Crypto assets can be extremely volatile, and there is no guarantee that the amount invested will be returned to you. Certain statements in this document may be forward-looking. Forward-looking statements ('FLS') are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'estimate' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
Purpose XRP ETF Receives OSC Receipt, Set to Launch on TSX on Wednesday, June 18, 2025
TORONTO, June 16, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. ('Purpose') is pleased to announce that it has received a final prospectus receipt for the Purpose XRP ETF, marking a significant milestone in the evolution of digital asset investing in Canada. The ETF is expected to begin trading on the Toronto Stock Exchange under the ticker XRPP on Wednesday, June 18. The Purpose XRP ETF will offer investors direct exposure to spot XRP, the native token of the XRP Ledger – a decentralized, open-source blockchain designed to facilitate fast and cost-effective cross-border payments. With this approval, Purpose continues to broaden access to digital assets through regulated and transparent investment vehicles. 'The OSC's granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada's global leadership in building a regulated digital asset ecosystem,' said Vlad Tasevski, Chief Innovation Officer at Purpose Investments. 'We're proud to continue pushing the boundaries of what's possible in the space by offering investors simple, secure access to the infrastructure powering real-world blockchain adoption.' The ETF will be available in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US dollar (ticker XRPP.U) units, and will be eligible for holding in registered accounts such as TFSAs and RRSPs. About Purpose Investments Purpose Investments is an asset management company with over $24 billion in assets under management, focused on client-centric innovation across ETFs and investment funds. Purpose is a division of Purpose Unlimited, an independent financial technology company led by entrepreneur Som Seif. For further information, please email us at info@ . Media inquiries: Keera Hart 905-580-1257 This offering is made only by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from . Investors should read the prospectus before making an investment decision. The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this information, and any representation to the contrary is an offence. The information contained in this document is believed to be accurate and reliable; however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice. Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated. Crypto assets can be extremely volatile, and there is no guarantee that the amount invested will be returned to you. Certain statements in this document may be forward-looking. Forward-looking statements ('FLS') are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as 'may,' 'will,' 'should,' 'could,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'estimate' or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
Purpose Investments Inc. Announces June 2025 Distributions
TORONTO, June 17, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. ('Purpose') is pleased to announce distributions for the month of June 2025 for its open-end exchange traded funds and closed-end funds ('the Funds'). The ex-distribution date for all Open-End Funds is June 26, 2025. The ex-distribution date for all closed-end funds is June 30, 2025. Estimated June 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund The June 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows: Purpose expects to issue a press release on or about June 25, 2025, which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be June 26, 2025. About Purpose Investments Inc. Purpose Investments is an asset management company with more than $21 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company. For further information please contact: Keera Hart 905-580-1257 Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Time of India
3 days ago
- Business
- Time of India
50 per cent stamp duty concession for land transactions under MMRDA's Pen township project
The Maharashtra Cabinet on Tuesday approved a 50 per cent concession in stamp duty for land transactions linked to the state's first large-scale urban project being executed under a public-private partnership (PPP) model. The project will be implemented by the Mumbai Metropolitan Region Development Authority (MMRDA) and Raigad Pen Growth Centre Ltd in Pen taluka. This move will promote investment and generate employment opportunities, the Chief Minister's Office (CMO) stated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Business Sneaker Loved by CEOs and NFL Stars Wolf & Shepherd Shop Now Undo Chief Minister Devendra Fadnavis chaired the meeting of the council of ministers, it said. The stamp duty payment concession applies to land agreements required for the integrated township project being developed under the New Town Development Authority (NTDA) in Pen taluka. Live Events According to the statement, the project spans approximately 1,217.71 acres and is being executed through a Special Purpose Vehicle (SPV) as per MMRDA's integrated township policy. Once operational, the growth centre is expected to house fintech firms, educational and healthcare institutions, entertainment hubs, affordable housing, commercial zones, retail markets, and construction-related industries. Described as Maharashtra's first large-scale, world-class urban project under the public-private partnership (PPP) model, it is also anticipated to attract substantial foreign investment. In the long term, the state government expects to receive increased revenues through stamp duty and taxes from commercial activity generated by the development, the CMO said. The cabinet also approved a stamp duty waiver for the transfer of land to the Maharashtra National Law University (MNLU) in Mumbai. A total of 1,41,640.40 square meters of land at Pahadi in Goregaon (west) has been earmarked for the permanent campus of MNLU, currently operated from rented premises in Powai. This decision will facilitate the development of a permanent and integrated campus, enhancing the educational infrastructure in Mumbai.
