Brazil Approves the World's First Spot XRP ETF, StratoVM (SVM) Could Be the Bitcoin Layer-2 Upgrade It's Been Waiting For

Brazil's CVM has approved the world's first spot XRP ETF and it's set to launch on Brazil's B3 stock exchange. This brought discussions about XRP ETFs in other markets

Brazil’s approval of the world’s first spot XRP ETF has brought the cryptocurrency into the spotlight, especially with the U.S. SEC now reviewing multiple applications for the ETF.

During this time, Bitcoin’s DeFi ecosystem remains small compared to rivals, but StratoVM (CRYPTO: SVM) might be the upgrade it’s been waiting for. This new Layer-2 solution could deliver fast, low-cost DeFi on Bitcoin while maintaining its security.

We’ll check out all the relevant details below.

XRP Price Prediction: XRP ETF Approval Closer Than Ever – Here’s What Analysts Think Will Happen

On February 20, 2025, Brazil’s Securities and Exchange Commission (CVM) approved the Hashdex Nasdaq XRP Index Fund, marking the launch of the world’s first spot XRP ETF.

Managed by Hashdex, a leading crypto asset manager, the fund will trade on Brazil’s B3 stock exchange. While the official trading date remains unconfirmed, Hashdex has verified the approval and promised further updates soon.

Hashdex's statement regarding the approval of the first Bitcoin ETF in Brazil. Hashdex is a pioneer in the crypto industry, and this achievement is a testament to their dedication and innovation over the years. Hashdex also confirmed that the application for the first Ethereum ETF has been accepted by B3. This marks a significant step forward in the development of the crypto market in Brazil.

Hashdex's involvement in launching the world's first XRP ETF is a crucial moment in the history of digital assets. The approval of the Hashdex Nasdaq XRP Index Fund by CVM in February 2025 will allow investors in Brazil to easily gain exposure to XRP through a regulated and transparent vehicle.

The Hashdex ETF is expected to be listed on B3, the Brazilian stock exchange. The fund will track the price of XRP, the cryptocurrency created by Ripple, which is used for cross-border payments and foreign exchange transactions.

This development also has implications for the United States, where the SEC is reviewing applications for XRP ETFs from other asset managers, such as Grayscale and Spark Digital Capital.

After the U.S. SEC acknowledged the application for Grayscale's XRP trust to be converted into an ETF, traders on Polymarket grew more confident in the approval. The odds on the Polymarket platform rose from 70% in January to 81%.

Now, after the SEC recognized the filing, traders are betting on a probability of X% for the approval of the world’s first XRP ETF in the U.S.

As the legal battle between Ripple and the SEC continues, the chances of an XRP ETF in the U.S. are increasing. Earlier this year, the SEC rejected several applications for spot Bitcoin and Ethereum ETFs from asset managers like BlackRock (NYSE:BLK), Invesco (NYSE:IVZ), and WisdomTree (NYSE:WTRH). However, the regulator did approve several applications for futures-based Bitcoin ETFs, which began trading in October 2021.

If the SEC approves the applications for spot price-linked cryptocurrency products, it could open the door for a new wave of institutional money to flow into cryptocurrencies.

"We are grateful to the CVM for its decision to approve the Hashdex Nasdaq XRP Index Fund. This approval is a testament to Hashdex's commitment to providing innovative investment solutions to our clients. We believe that the Hashdex Nasdaq XRP Index Fund will be a valuable addition to the Brazilian investment landscape," said a Hashdex spokesperson in a statement.

Following the news, Xoom Bank corp (NASDAQ:XOM) analyst, Demetri Amony, is expecting a rally to $5-$7 by the end of February.

"We like what we see from XRP on the charts. We’re looking for a move to $5-$7 by the end of February, assuming we get the news that the SEC has approved an XRP ETF."

Also, Amonyx founder, Greg Amony, predicts that XRP could hit $20 or more this year.

"I think we could easily see XRP at $20 or more by the end of the year. It's still early days for crypto, and we're going to continue to see new highs and lows."

StratoVM (SVM) Price Prediction: What’s Next For Bitcoin’s Layer-2?

StratoVM (SVM) is a Bitcoin Layer-2 blockchain that’s working on potentially bringing smart contracts, meme coins, AI, and DeFi to Bitcoin. It has surged 3442.5% in the past month, now trading at $0.108, according to CoinGecko.

With its mainnet launch coming soon, StratoVM is at an important stage right now. CoreDAO (CRYPTO: CORE), another Bitcoin Layer-2, has a fully diluted valuation (FDV) of $990 million