Brazil’s Securities and Exchange Commission (CVM) has approved the world's first XRP spot ETF, opening the door for institutional investors.
Approval of the First XRP Spot ETF
The Hashdex NASDAQ XRP Index Fund is the first to directly hold XRP. It will be traded on Brazil’s main exchange, B3, with Genial Investimentos as the administrator. While the launch date is pending, Hashdex has confirmed the approval and will announce trading details soon.
Why This Approval Matters
The XRP spot ETF offers a fully regulated investment vehicle for institutional and retail investors, bypassing the need to navigate crypto exchanges and wallets individually. Brazil remains a leader in crypto ETF regulation, enhancing its position as a crypto-friendly nation.
Could the U.S. Be Next?
While the U.S. has approved Bitcoin and Ethereum spot ETFs, XRP remains a complex case due to legal issues with the SEC. However, applications for XRP spot ETFs continue, and JP Morgan analysts estimate that such funds could attract up to $14 billion in their first year if approved.
The approval of an XRP spot ETF in Brazil is a significant development for the crypto industry, potentially leading to increased institutional investment and Ripple's expanded influence in the region.
