A big moment for the crypto world has arrived! Purpose Investments Inc. has officially secured the final go-ahead for its Purpose XRP ETF, clearing the way for the fund to launch this week on the Toronto Stock Exchange (TSX). The ETF will start trading on Wednesday, June 18, 2025, under the ticker symbol XRPP.
This makes it the first spot XRP ETF in Canada, giving investors a simple, regulated way to gain direct exposure to XRP.
Vlad Tasevski, Chief Innovation Officer at Purpose Investments, called the approval a breakthrough for the country’s crypto market. “This signals Canada’s growing leadership in creating a secure, regulated environment for digital assets. We’re proud to lead the way by offering investors safe, reliable access to blockchain-powered technologies,” he said.
The new fund will be available in multiple formats to suit different investor needs:
XRPP: CAD-hedged units
XRPP.B: CAD non-hedged units
XRPP.U: US dollar units
Investors will also be able to hold the Purpose XRP ETF in tax-friendly accounts like TFSAs and RRSPs, making it even easier for Canadians to diversify into crypto through trusted, regulated options.
The timing couldn’t be more interesting — this development arrives as the Ripple vs. SEC case in the U.S. heads toward a critical deadline. With legal clarity potentially on the horizon, XRP’s growing global acceptance is reflected in moves like this.
The XRP market is already showing bullish signs. The price is up by more than 7% and has climbed above the important $2.30 level at the time of writing.
Mastercard is bringing stablecoins to the mainstream, making it easy to use them for payments at millions of merchants. With new partnerships with OKX and Nuvei, stablecoins will soon work just like regular money, creating a seamless experience for everyone.
In a press release on Monday, the company notes that its new partnerships will create a complete system where consumers can spend stablecoins and merchants can accept them.
Mastercard Partners with OKX, MetaMask, and Others
Through partnerships with platforms like MetaMask, Kraken, and OKX, consumers can earn rewards, pay, and spend stablecoins at over 150 million merchants worldwide using traditional cards.
Mastercard is collaborating with OKX to launch the OKX Card, offering seamless access to funds. It has teamed up with Nuvei and Circle to enable stablecoin payments like Circle’s USDC, ensuring smooth transactions regardless of how a consumer chooses to pay. It also works closely with Paxos to enable this functionality across Paxos-issued stablecoins.
Trusted Usernames and Real-Time Transactions
Mastercard said that while stablecoins are fast and cost-effective, current user experiences lack verification and transparency. Their Crypto Credential solves this by allowing users to send and receive digital assets with trusted usernames. Partners like Wirex, Bit2Me, and Mercado Bitcoin are already part of the Mastercard Crypto Credential ecosystem.
Furthermore, Mastercard’s Multi-Token Network (MTN) enables real-time payments across markets and currencies. Partners like Ondo Finance use tokenized assets, while banks like JPMorgan Chase and Standard Chartered are already connected to MTN, unlocking new digital asset opportunities.
“When it comes to blockchain and digital assets, the benefits for mainstream use cases are clear,” said Jorn Lambert, chief product officer at Mastercard. “To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them,” he added.
Mastercard has previously partnered with crypto exchanges like Kraken, Binance, and Crypto.com to allow users to pay with stablecoins via traditional cards.
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Mastercard is bringing stablecoins to the mainstream, making it easy to use them for payments at millions of merchants. With new partnerships with OKX and Nuvei, stablecoins will soon work just like regular money, creating a seamless experience for everyone. In a press release on Monday, the company notes that its new partnerships will create …
Crypto inflows last week were modest at $6 million, as negative flows provoked by US economic indicators whitewashed significant gains made by mid-week.
Notwithstanding, the positive flows, though modest, suggest shifting sentiment in the market.
US Retail Sales Trigger $146 Million in Crypto Outflows
The latest CoinShares report indicates that crypto inflows came in at only $6 million last week, amid mixed investor sentiment. While the week started with minor inflows, stronger-than-expected US retail sales figures on Wednesday last week inspired outflows of $146 million.
“Digital asset investment products saw net inflows of US$6 million, with mid-week US retail data triggering US$146 million in outflows,” CoinShares’ head of research James Butterfill stated.
As it happened, US Retail Sales climbed in March on a jump in car purchases. Beyond adjusting for inflation, the value of retail purchases increased the most in over two years.
This economic indicator, which measures year-over-year consumer spending, also showed that households stepped up purchases of motor vehicles and a range of other goods. According to Reuters Business, the objective was to avoid higher prices from Trump tariffs.
“The US Commerce Department said retail sales increased 1.4% last month, up significantly from February’s 0.2% rise, the most in more than two years, as households stepped up purchases to avoid higher prices from President Trump’s tariffs,” read the report.
Against this backdrop, the US continued to see outflows, totaling $71 million last week. This effectively contravened what was seen in other markets, with Europe and Canada, among others, recording positive flows.
Meanwhile, Ethereum led the negative flows, recording nearly $27 million in outflows, followed by Bitcoin, which had $6 million in outflows.
“XRP continues to break the mold with inflows of $37.7 million last week, making it the 3rd most successful this year with YTD inflows of $214 million,” Butterfill explained.
Institutions Treat Crypto as More Than Just a Risky Bet
Meanwhile, as Trump tariffs influence consumer spending, Wall Street appears to be stumbling harder than expected.
Nexo Dispatch editor Stella Zlatarev recently told BeInCrypto that Bitcoin’s relative steadiness and that of other blue-chip cryptos are signs that cryptocurrency may be entering a new market maturity phase.
“Bitcoin’s ability to weather macro turbulence without the wild swings of previous years suggests institutional investors are treating it less as a speculative punt and more as a strategic asset,” Zlatarev stated.
Instead, Bitcoin is emerging as a risk-dynamic asset that does not crumble like high-growth stocks but does not attract the same flight-to-safety flows as traditional safe havens.
Shiba Inu inflows have surged sharply, with data showing a 2,952% increase in large holder inflows. According to IntoTheBlock, inflows rose from 238.91 billion SHIB to 6.42 trillion SHIB on May 7. This indicates a sudden rise in buying activity from addresses classified as large holders.
Surge in Shiba Inu inflows Hints at Rally
According to the IntoTheBlock platform, whale addresses saw a major spike in inflows. These addresses typically represent institutional or high-net-worth investors. The increase in Shiba inu inflows entering these wallets often signals large-scale accumulation.
On May 8, the large holder netflow also rose from 132.54 billion SHIB to 6.21 trillion SHIB which is an increase of over 6,050%. Shiba inu inflows measure the difference between tokens entering and exiting whale wallets with a positive netflow suggesting whales are increasing their holdings.
This Shiba inu inflows shift follows a period of low activity during early May. Analysts often monitor these changes because whales usually accumulate after price pullbacks. They often transfer their purchases to cold storage, which reflects longer-term confidence.
Shiba Inu Price Action and Technical Levels
After staying near the daily Simple Moving Average (SMA) 50 for several days, the SHIB price has moved upward amid the increasing Shiba inu inflows. The price rose from $0.00001274 to an intraday high of $0.00001408 on May 8. As of the latest update, the SHIB price was trading around $0.00001400, an 11% surge from the intra-day high.
This increase came as the broader cryptocurrency market gained strength. Bitcoin price approached the $102,000 mark, leading to renewed interest across many assets. SHIB’s move has placed attention on its resistance near $0.000015.
SHIB/USD (Source: TradingView)
Traders are also watching the SMA 200 at $0.00001265. If the price maintains above the SMA 50 and breaks past resistance, another upward move is possible. The SMA 50 may act as support in the short term if momentum holds.
Derivatives Market and Short-Term Trader Activity
Open interest in SHIB derivatives rose 20.72% to $182.67 million. Trading volume also increased by 81.79% to $167.61 million. These figures suggest growing participation from traders betting on price movements.
Source: IntoTheBlock
The number of short-term traders, those holding less than 30 days, increased by 6.66%. This could suggest renewed interest from new or active traders. Analysts often track these trends to anticipate volatility and potential price swings.
Traders entering during low volatility phases may push prices higher if momentum continues. If SHIB price maintains current levels, short-term traders may influence future rallies.
Community Activity and SHIB Burn Rate
Shibburn reported that over 15.8 million SHIB tokens were destroyed in the past 24 hours. This represented a 4,833.98% rise in the burn rate. Most of this was from a single transfer of 15.29 million tokens.
Token burning reduces the circulating supply. The SHIB team continues to promote its burn initiatives through the Shibarium layer-2 network. On Shibarium, each transaction uses BONE, and part of the fee is converted to SHIB and burned.
The Shiba Inu team shared that 30% of the gas fees are used to buy SHIB and send it to burn addresses. The circulating supply currently stands at over 589 trillion tokens. Burning remains a core strategy to manage token supply.
Market Sentiment and Community Statements
The Shiba Inu marketing lead Lucie, made a public statement about a possible 1,000% increase in three days. She clarified that this was a personal affirmation and not a forecast. “I told my boss, and my cat,” Lucie wrote, jokingly, on social media.
Though such a sharp increase seems unlikely in such a short time, the community responded with enthusiasm. The price would need to hit $0.000144628 for this claim to come true. At press time, SHIB remains below that level.
The community sentiment has grown more positive due to price increases and network activity. With higher whale interest, token burns, and rising open interest, SHIB is gaining more attention across the crypto market.
