Brazil Clears Hashdex to List XRP Spot ETF

Brazil approves Hashdex XRP spot ETF, marking a major step in crypto adoption. Institutional investors anticipate new opportunities in the growing Brazilian market.

Brazil has taken a major step in cryptocurrency adoption. The Brazilian Securities and Exchange Commission (CVM) endorsed Hashdex to develop the world’s initial XRP spot exchange-traded fund (ETF). The Brazilian Stock Exchange (B3) has not disclosed when the Hashdex ETF will start listing.

This ETF functions based on XRP, which represents Ripple’s blockchain native token. The CVM records show that the HASHDEX NASDAQ XRP INDEX FUND was founded on December 10 of 2024. The Hashdex fund remains in its pre-operational state at present. The management of the fund rests with Genial Investimentos as the brokerage firm although other specifications remain undisclosed.

Hashdex received approval to launch its XRP ETF although it remains silent about the exact date for market availability. The company issued a promise to provide investors with specific information eventually. The Brazilian crypto market continues to advance forward as it welcomes its second Bitcoin ETF approval in 2021 and more recent XRP ETF approval.

Brazil Sets the Stage for XRP ETF, Attracting Global Attention

The cryptocurrency XRP holds the title of being one of the largest digital assets by maintaining a valuation of $151 billion. XRP holds the position as the third most valuable cryptocurrency behind Bitcoin and Ethereum. The strong industry adoption of XRP combined with tangible use cases makes leaders recognize XRP as a suitable token for ETF investment.

Silvio Pegado, managing director of Ripple in Latin America, stressed the importance of this approval. According to him XRP represents an ideal selection for an ETF because of its functional ecosystem alongside strengthening institutional interest and substantial market size.

Pegado commended Brazil for being forward-thinking when it comes to cryptocurrency regulatory approaches. The Brazilian government supports financial innovation leadership through its regulatory backing and active dialogues on money policy. The country demonstrates its dedication to crypto sector progress through this approval decision.

The country anticipates increased interest from institutional investors and enhanced market leadership in the worldwide crypto sector with this advancement. As Hashdex prepares for the official launch, the market eagerly awaits further updates on trading and investment opportunities in the XRP ETF.