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.
