Brazil Grants Approval to Hashdex Launching the World's First Spot $XRP ETF!

XRP's Gains Visibility This ETF approval shines the spotlight on XRP and further solidifies its position as a leading digital asset.

Brazil’s Securities and Exchange Commission (CVM) has approved the world’s first spot XRP exchange-traded fund (ETF).

The Hashdex NASDAQ XRP Fund is currently in its pre-operational phase, with the official launch date coming soon. This fund will give global investors a simple, regulated way to invest in XRP.

The ETF is managed by Genial Investimentos, a local Brazilian investment firm, in partnership with Hashdex. It will soon be listed for trading on Brazil’s B3 exchange.

This approval marks a significant step for XRP, further solidifying its position as a leading digital asset and bringing it to the attention of institutional investors.

More capital is expected to flow into XRP, especially considering that the U.S. market is still dealing with regulatory uncertainty surrounding the token.

“The approval of the first XRP ETF by the CVM demonstrates Brazil’s visionary approach to crypto markets and financial advancements,” said Silvio Pegado, Ripple Managing Director Latin America.

“Through regulation and public consultations, Brazil continues to position itself as a country open to innovation, and we expect it to be central to more pioneering advancements in the crypto sector in the future.”

In the U.S., the Securities and Exchange Commission (SEC) is currently reviewing various XRP-related ETF proposals, including those from WisdomTree and Grayscale.

This suggests that a spot XRP ETF could soon be approved in the United States.

XRP’s price has already responded positively to the news, with the token surging over 6% in the last 24 hours.

XRP’s price is currently aiming to break the $3 mark, continuing its recent bullish momentum.

U.S. President Donald Trump’s endorsement of Ripple on Truth Social also recently contributed to the price surge.

The approval of ETFs for digital assets, such as Bitcoin, has previously demonstrated its impact on the asset’s price.

As institutional and retail capital continues to flow into XRP, we can expect to see its price continue to be affected by these broader market forces.