Altcoins Resume Decline as Haven Appeal of Digital Assets Fades
Ether and Solana led declines in cryptocurrencies as concern about escalating conflict in the Middle East has investors moving away from risker assets.
Ether, the second largest cryptocurrency by market value after Bitcoin, fell as much as 8% before paring the decline. Solana fell more than 7% at one point, while Cardano's decline reached as much as 8.5%. All the tokens had rallied Monday.
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Hamilton Spectator
11 minutes ago
- 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. 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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.
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Gold price today, Wednesday, June 18, 2025: Gold opens strong ahead of Fed projections
Gold (GC=F) futures opened at $3,409 per ounce Wednesday, up 0.7% from Tuesday's close of $3,386.60. The price of gold has opened above $3,400 three times this month but has stopped short of beating its all-time high of $3,485.60, set in April. Economic and geopolitical factors favor ongoing gold demand. Conflict in the Middle East, plus President Donald Trump's changing tariff demands, create uncertain outlooks for oil prices, inflation, and the overall health of the U.S. economy. While stock prices are still up for the year, investors may react to the Fed's Summary of Economic Projections, to be released Wednesday. Any sign the Fed expects rates to remain high this year could trigger lower stock prices. Gold demand, and thus gold prices, typically rise when investors are pessimistic about stocks. The opening price of gold futures on Wednesday is up 0.7% from Tuesday's close of $3,386.60 per ounce. 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Your three options are: Physical gold Gold mining stocks Gold ETFs Physical gold includes jewelry, gold bars, and gold coins. The advantages of physical gold include: Readily accessible for use. If you keep your physical gold at home, it is easily available for you to use as a medium of exchange in an economic emergency. No added volatility or ongoing fees. Gold mining stocks tend to rise and fall with gold prices, and business-related factors enhance their volatility. Gold ETFs charge administrative fees in the form of expense ratios. Learn more: Take a deeper dive into the gold sector The disadvantages of physical gold include: Risk of theft or loss. Physical gold must be properly secured. Whether you store it in your home or with a depository, gold can be stolen. Lower liquidity. Physical gold is less liquid than stocks or ETFs. If you are not using the gold as a medium of exchange, you may need to locate a dealer and pay a markup on the sale. Owning shares in gold mining stocks provides indirect gold exposure. The advantages of mining stocks over physical gold include: Greater liquidity. Large-cap gold mining stocks like Barrick Gold Corporation (GOLD) and Franco-Nevada Corporation (FNV) generally enjoy a narrow bid-ask spread, which is a sign of liquidity. The bid-ask spread is the difference between what buyers will pay and what sellers will accept. Easy to store. Stocks live in your brokerage account and do not consume physical space. In normal times, this is an advantage. In an economic catastrophe, this could be a disadvantage if brokers or the stock market are temporarily shut down. Learn more: The top performing companies in the gold industry The disadvantages of owning gold mining stocks include: Greater volatility. Since 2000, gold mining stocks have risen and fallen faster than gold spot prices. And in recent years, gold mining stocks have trended down even as gold has gained value. No utility as a medium of exchange. Gold mining stocks can appreciate, but they have no direct utility as a medium of exchange. Gold ETFs are funds that invest in gold mining stocks or physical gold. Their advantages include: Easy to store. Like gold mining stocks, ETF shares are essentially digital assets with no storage requirements. Greater liquidity. Shares of the most popular gold ETFs, like SPDR Gold Shares ($GLD), are heavily traded which implies good liquidity. Tied directly to gold prices. ETFs backed by physical gold can be less volatile than gold mining stocks or gold mining ETFs. The disadvantages of gold ETFs include: Fund fees. Funds charge fees, which dilute returns over time. For context, the expense ratio of SPDR Gold Shares is 0.40%. This translates to $4 in fees annually for every $1,000 invested. No utility as a medium of exchange. As with gold mining stocks, you probably cannot use ETF shares to trade for food in an economic emergency. Whether you're tracking the price of gold since last month or last year, the price-of-gold chart below shows the precious metal's steady upward climb in value. Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years. In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage. The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold's January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase. If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
