Brazil just made crypto history— Brazil’s Comissão de Valores Mobiliários (CVM) have approved the world’s first spot XRP exchange-traded fund (ETF). The fund, officially titled HASHDEX NASDAQ XRP Fundo de Índice, is managed by Hashdex and administered by Genial Investimentos, marking a major step forward in mainstream crypto adoption.
The ETF is currently in its pre-operational phase, with plans to debut on Brazil’s B3 stock exchange, one of Latin America’s leading trading platforms. While Hashdex has yet to announce a specific launch date, the approval furthers Brazil’s growing ambition to become a regional leader in digital asset innovation..
According to a report from Portal do Bitcoin, CVM’s approval will enable the booming Brazilian financial market to offer investors direct exposure to XRP, the native token of the Ripple network. This move not only expands the country’s roster of cryptocurrency investment products but also satisfies the country’s mainstream investors’ increasing appetite for diversified digital asset portfolios.The CVM’s official website confirms the fund’s pre-operational status, with expectations that the XRP ETF will make its debut as soon as all paperworks have been finalized.
Global Context: The Rise of Cryptocurrency ETFs
Brazil’s groundbreaking approval of the world’s first spot XRP ETF arrives at a pivotal moment, as a wave of cryptocurrency exchange-traded fund (ETF) applications sweeps across the United States. The U.S. Securities and Exchange Commission (SEC) has recently acknowledged a series of spot XRP ETF filings from major players like 21Shares, Bitwise, Grayscale, CoinShares. But XRP isn’t the only altcoin making waves. The SEC is currently reviewing spot ETF applications for other cryptocurrencies, including Solana (SOL) and Litecoin (LTC). These applications come amid a broader push by institutional investors to gain regulated exposure to digital assets, a trend that has accelerated since the SEC’s landmark approval of spot Bitcoin ETFs in early 2024.
Fueling this surge in ETF activity is the reelection of pro-crypto President Donald Trump, whose administration has adopted a notably friendlier stance toward the digital asset sector. Since returning to office, President Trump has pushed for clearer crypto regulations, leading to the establishment of a dedicated crypto task force within the SEC. This task force has been tasked with determining which cryptocurrencies fall outside the scope of financial securities—a move that has injected optimism into the market and encouraged more firms to file for spot ETFs.
With Brazil taking the lead on XRP ETFs, eyes are now on the U.S. SEC—will it follow suit, or will XRP face continued regulatory hurdles?
Quick Facts:
- Brazil’s CVM has approved the first-ever spot XRP ETF, named HASHDEX NASDAQ XRP Fundo de Índice.
- The approval is expected to attract both domestic and international investors, enhancing Brazil’s position in the global crypto market.
- The move aligns with a worldwide increase in cryptocurrency ETF approvals, indicating growing global institutional interest in digital assets.
