Brazil has made history by approving the world’s first XRP spot ETF, marking a milestone for Ripple’s token and the broader crypto market.
Brazil Approves First-Ever XRP Spot ETF
Brazil’s CVM has officially approved the Hashdex NASDAQ XRP Index Fund, marking it as the first ETF to directly hold XRP. The ETF will trade on B3, Brazil’s main stock exchange, with Genial Investimentos as the fund administrator. The official launch date is yet to be announced. Silvio Pegado, Ripple's managing director in Latin America, highlighted XRP's real-world utility and institutional interest as key factors for its selection.
Why This Approval Matters
The XRP spot ETF offers a regulated vehicle for institutional and retail investors, eliminating the need to deal with crypto exchanges or wallets. Brazil continues to be a leader in crypto regulation, outpacing the U.S., where an XRP ETF remains unapproved. Meanwhile, XRP holds its position as the third-largest cryptocurrency by market cap.
Ripple’s Growing Influence in Brazil
Beyond the ETF, Ripple is expanding its presence in Brazil through stablecoins and financial services. The Braza Group is launching a stablecoin pegged to the Brazilian Real (BBRL) on the XRP Ledger, aiming to strengthen the digital economy in the region.
Brazil’s approval of the world’s first XRP spot ETF marks a significant advancement in cryptocurrency assets and offers new pathways for Ripple’s broader market adoption.
