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Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
Brazil Gives Green Light To World’s First Spot XRP ETF—What to Expect

Brazil Gives Green Light To World’s First Spot XRP ETF—What to Expect

Samuel Edyme
by Samuel Edyme
8 months ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Brazil might just become the first country to launch a spot XRP ETF also known as exchange-traded fund, after Hashdex received the green light from the nation’s securities regulator.

The Hashdex Nasdaq XRP Index Fund has entered its pre-operational phase, as confirmed by Brazil’s Securities and Exchange Commission (CVM).

Related Reading: XRP In Demand: Whales Go On $400 Million Buying Spree

Spot XRP ETFs In Brazil And Growing Global Interest

While a specific launch date has yet to be announced, this fund is expected to be listed on Brazil’s B3 exchange. The approval marks a significant milestone for both the Brazilian crypto market and the global XRP community.

Unlike futures-based ETFs, a spot XRP ETF directly invests in the underlying asset—in this case, XRP—providing investors with straightforward exposure. This development is likely to attract institutional and retail interest, potentially boosting the asset’s credibility and liquidity.

The move in Brazil comes at a time when other jurisdictions, particularly the United States, are considering similar financial products. The US Securities and Exchange Commission (SEC) recently acknowledged a wave of applications for spot XRP ETFs from major players like 21Shares, Bitwise, Grayscale, and CoinShares.

Although these filings are still under review, their acknowledgment signifies a shift in regulatory attitudes toward cryptocurrencies. This shift coincides with a broader change in the US regulatory environment following the reelection of President Donald Trump, a known crypto proponent.

🚨BREAKING: Donald Trump says: “I have signed executive orders to keep the United States at the forefront of artificial intelligence and to end Joe Biden’s war on Bitcoin and crypto. We ended that war totally, that war is over!”

The SEC v. RIPPLE case is coming to an end! #XRP pic.twitter.com/SEUlSCafWE

— JackTheRippler ©️ (@RippleXrpie) February 20, 2025

Under his administration, the SEC has pledged to provide clearer guidelines on digital assets. A newly established crypto task force is now examining which cryptocurrencies fall outside the definition of securities, offering the possibility of more straightforward regulatory pathways for projects like XRP.

XRP Price Performance

Meanwhile, following the news update of Brazil approving what could be the World’s first spot XRP ETF, the asset’s price performance has seen quite an uptick.

Related Reading: Ex-SEC Official Predicts XRP Lawsuit Dismissal On ‘Highly Favorable Terms’

Over the past day, XRP’s price has seen a 4.5% increase in price bringing its market valuation to $2.74, at the time of writing.  While this increase in price has managed to put XRP performances in the past week in green it however appears to be insufficient to pull XRP completely out of its recent bearishness.

Zooming out, XRP still remains down by 12.6% in the last month and roughly 19.7% from its all-time high (ATH) of $3.40 recorded back in 2018. 

XRP price chart on TradingView amid XRP ETF news
XRP price is moving sideways on the 2-hour chart. Source: XRP/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Samuel Edyme

Samuel Edyme

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Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

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