I think I understand some. I do not understand all.
Please explain ticker symbols, investment thesis for symbols, and your opinion on these investments for a new TFSA account at age 19.
Thank you.
XRP-CAD is XRP denominated in CAD.
XRP-US is XRP denominated in USD.
XRP.TO is the Evolve XRP ETF.
XRP-CNY is XRP denominated in the Chinese Yuan.
XRP-EUR is XRP denominated in Euros.
AXRP is 21Shares XRP ETP (Exchange Traded Product).
XRPP is the Purpose XRP ETF.
XRP is a highly-volatile, somewhat controversial crypto that despite some of the controversies, has performed well over the long-term. It's near a new all-time high, there are some regulatory tailwinds for the digital asset, and if there is some form of adoption at the institutional level, we could see the name rise. We prefer larger, more decentralized names in the crypto space such as BTC and ETH, but for an investor with a high risk tolerance, a high ability to take risk, and a long-term timeframe, we would be OK with a position for a long-term holding, while acknowledging its high degree of volatility.