Brazil Approves Spot XRP ETF, Trump Pumps the Token 6.92% Overnight

The newly approved ETF, currently in its pre-operational phase, was established on December 10, 2024, according to CVM records.

Brazil Approves First Spot XRP Exchange-Traded Fund (ETF)

output: A Landmark Approval

The newly approved ETF, currently in its pre-operational phase, was established on December 10, 2024, according to CVM records. It is administered by Genial Investimentos, a well-known Brazilian investment brokerage firm, while Hashdex, a leading asset manager in the digital asset space, is responsible for managing the fund.

While an official trading launch date on Brazil’s B3 exchange has yet to be announced, Hashdex has confirmed to Portal do Bitcoin, a local news outlet, that the regulatory approval is in place. The firm plans to release additional details soon regarding the ETF’s trading schedule and operational framework.

Meanwhile, President Trump posted a news story about Ripple’s status as a U.S. crypto company. This is expected to favor Ripple’s relationship with regulators, and ultimately, that’s good news for XRP investors. Adjust your XRP price predictions higher if Trump gets involved, as he is teasing here.

President Trump posted a news story about Ripple on Truth Social, via X

The Ripple XRP price jumped 6.92% overnight on the news, a clear example of the Donald Trump effect, also known as the Trump Pump.

The Ripple XRP price jumped 6.92, Source: BNC XRPLX

The U.S. Contrast: SEC Still Holding Back

While Brazil moves ahead, the U.S. remains in limbo. The Securities and Exchange Commission (SEC) has received multiple applications for a spot XRP ETF from major asset managers such as CoinShares, Bitwise, WisdomTree, 21Shares, and Bitwise, but no approvals have been granted yet. The SEC’s reluctance to approve such funds is largely due to ongoing regulatory uncertainty surrounding XRP, exacerbated by its high-profile legal battle with the U.S. Securities and Exchange Commission over its classification as a security.

What This Means for Investors

The launch of a spot XRP ETF in Brazil is significant because it provides investors with regulated exposure to XRP without requiring them to engage directly with cryptocurrency exchanges or manage private keys. This lowers the entry barrier for institutional and retail investors who want exposure to Ripple’s XRP in a secure, compliant manner.

JPMorgan analysts have projected that the approval of similar spot ETFs—whether in XRP or other digital assets—could bring billions of dollars into the crypto market. While the U.S. market would likely see a much larger impact if an XRP ETF were approved, Brazil's move signals growing global acceptance of digital asset investment products.

Meanwhile Polymarket’s XRP ETF approval odds in 2025 have increased from 70% in January to 79% today.

XRP ETF approval odds for 2025 are 79%. Source: Polymarket

The Bigger Picture: Brazil Leading the Way in Crypto ETFs

Brazil has been at the forefront of crypto ETF adoption, having previously approved multiple Bitcoin and Ethereum ETFs. This latest move with XRP further cements the country’s role as a crypto-friendly investment hub. It also puts pressure on regulators in other jurisdictions, particularly in the U.S., to accelerate their decision-making process regarding digital asset ETFs.