On February 20th, COINOTAG reported that Hashdex, a prominent cryptocurrency asset management firm, has attained approval from Brazil’s financial regulatory body for its Hashdex Nasdaq XRP Index Fund. This landmark development positions the fund as the first *physically-backed XRP ETF* globally. Currently in the pre-operational stage, the fund is set to debut on the Brazilian B3 exchange, though an exact trading date has yet to be disclosed. The approval comes amid heightened interest in crypto investment vehicles, as firms like Bitwise Asset Management, 21Shares, CoinShares, and Grayscale have recently filed for their own *physically-backed XRP funds*. Analysts from JPMorgan foresee that these financial products could potentially draw between $30 billion and $60 billion in investments, signaling substantial institutional demand for XRP-based investment options in the burgeoning digital asset market.
Source: https://en.coinotag.com/breakingnews/worlds-first-physically-backed-xrp-etf-approved-in-brazil-a-new-era-for-cryptocurrency-investment/