Brazil has approved its first spot XRP exchange-traded fund (ETF). Following the approval, XRP’s price increased by 8% within last 24 hours.
The Hashdex Nasdaq XRP Index Fund received approval from Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM), on Feb. 19. This means investors in Brazil will soon be able to trade an XRP-backed ETF on the B3 stock exchange. However, an official trading date has not yet been announced. Hashdex, the fund’s manager, will provide further details soon.
Hashdex Expands Crypto ETF Offerings
Hashdex already manages several crypto ETFs in Brazil, including funds for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and specialized funds focused on DeFi, Web3, and the metaverse. The launch of an XRP ETF expands its portfolio and gives Brazilian investors a regulated way to invest in the digital asset.
Industry experts believe this decision signals a shift toward greater regulatory acceptance of cryptocurrencies.
Brazil’s approval of the world’s first spot XRP ETF marks a significant step for the digital asset market, signaling growing regulatory acceptance and mainstream integration of cryptocurrencies.
said Anish Jain, Founder of W Chain.
He added that Brazil is positioning itself as a leader in digital finance innovation, setting an example for other nations.
The Hashdex Nasdaq XRP Index Fund provides a regulated and accessible avenue for investors to gain exposure to XRP, potentially driving further adoption and liquidity.
Jain said.
Meanwhile, in the United States, the Securities and Exchange Commission (SEC) recently acknowledged multiple applications for a spot XRP ETF from firms like CoinShares, Canary Capital, and WisdomTree.
Following these developments, XRP’s price jumped by 7.8%, reaching $2.72. The token is now just 20% below its all-time high.
