The Canadian Derivatives Clearing Corporation has registered options on two Canadian XRP ETFs for sale in the US, extending a regulated derivatives category that already covers Bitcoin, Ethereum and Solana. The move follows US notices classifying XRP as a qualifying digital commodity and comes as National Bank of Canada and Bank of Montreal disclose XRP fund holdings.
Options on the Evolve XRP ETF and the Purpose XRP ETF have received clearance for sale in the United States, the Canadian Derivatives Clearing Corporation confirmed in a Form 8-K report dated Sept. 9, 2026, filed under Form S-20. The contracts have traded on the Montreal Exchange since the start of the year and now sit in the same regulated derivatives category as options on Bitcoin, Ethereum and Solana.
US classification opened the door
The registration follows notices in the U.S. Federal Register in which the SEC and CFTC classified XRP as a qualifying digital commodity, giving U.S. institutions a path to trade the asset's volatility through Canadian exchange-traded contracts rather than through spot crypto directly.
Canadian banks disclose XRP fund stakes
Form 13F-HR filings show two of Canada's largest banks moving into the sector through U.S. spot funds. National Bank of Canada reported a stake worth approximately $330,000 in the regulated Bitwise XRP ETF. Bank of Montreal disclosed investments in XRP products as part of the diversification of its larger portfolios.
For these banks, the positions remain tentative and exploratory. But the shift matters because banks do not typically hold "naked" tokens or crypto wallets on principle — they buy regulated exchange-traded wrappers such as ETFs, and their entry signals confidence in the infrastructure built around the asset.
Built on a 2025 foundation
The current expansion builds on a strategy Canada launched in the summer of 2025, when it became the first country in North America to launch fully physically backed spot XRP ETFs on the Toronto Stock Exchange, tied to the CME CF XRP-Dollar Reference Rate. Local investors gained the right to hold the funds even in tax-advantaged accounts such as TFSAs and RRSPs.
An ecosystem grew around that base, from work by developers at the XRPL Canada hub to the adaptation of Canada's Stablecoin Act under the direct supervision of the Bank of Canada. While the United States continues shaping its own rules for the asset class, Canada has already packaged XRP into a product the conservative market understands — and started exporting it to American players.
Source: SEC (CDCC Form 8-K)
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