Options on XRP ETFs traded in Canada have been registered so they can be sold to U.S. investors. That expands U.S. access to regulated derivatives tied to XRP.

U.Today reported on Sept. 10 that the Canadian Derivatives Clearing Corporation (CDCC) said in a report the previous day it registered, under the Form S-20 framework, options based on the Evolve XRP ETF and the Purpose XRP ETF for sale in the United States. The two ETF options trade on the Montreal Exchange in Canada. The move does not mean the options are directly listed on a U.S. exchange.

CDCC's Form S-20 is an SEC registration framework for selling put and call options traded on the Montreal Exchange to U.S. investors. The existing list includes ETF options tied to bitcoin, ether and solana, and XRP ETF options have now joined it.

Another factor cited is that XRP's regulatory status in the United States has become clearer. In interpretive guidance released with the U.S. Commodity Futures Trading Commission (CFTC) in March, the SEC identified XRP, along with bitcoin, ether and solana, as an example of a "digital commodity". As a result, the regulatory direction of not treating XRP itself as a security has become clearer.

In Canada, spot XRP ETFs have traded in regulated markets since June last year. Evolve and Purpose launched ETFs on the Toronto Stock Exchange (TSX) that hold XRP directly and provide exposure to the spot price. The Purpose XRP ETF can also be invested in through Canadian registered accounts such as the tax-free savings account (TFSA) and registered retirement savings plan (RRSP).

Canadian banks are also showing XRP exposure through regulated ETFs. Canada’s National Bank was confirmed in an SEC 13F filing to have held 330 shares of the Bitwise XRP ETF as of late June. Bank of Montreal (BMO) also disclosed holdings of the REX-Osprey XRP ETF and the ProShares Ultra XRP ETF. It shows access through regulated listed products rather than holding XRP directly.

With this registration, the spot XRP ETF market that formed first in Canada is now being linked to U.S. investors through options, further widening the base of regulated financial products tied to XRP.