Brazil has become the first country to approve a spot XRP ETF, paving the way for institutional investments in the crypto market.
XRP ETF Approval in Brazil
According to reports, the new XRP ETF managed by Hashdex was approved by the Brazilian Securities and Exchange Commission (CVM) and officially established in December 2024. While the exact start date for trading is yet unknown, Hashdex has assured investors that trading details will be announced soon.
Impact on the Latin American Crypto Market
The approval is another step in strengthening Brazil's position in digital assets. The country is a leader in Latin America in terms of cryptocurrency transaction volume. Between late 2023 and early 2024, transactions over $1 million grew by nearly 48.4%.
XRP ETF Situation in the US
Meanwhile, the US is experiencing a surge of spot XRP ETF applications from companies like 21Shares, Bitwise, Grayscale, and CoinShares. According to recent data, there is an 80% likelihood that the US Securities and Exchange Commission will approve an XRP ETF in 2025.
The approval of the first spot XRP ETF in Brazil underscores the country's growing significance in the global crypto market and opens new opportunities for institutional investment in digital assets.
