First XRP Spot ETF Approved in Brazil: Implications for Crypto Market

Brazil has set a landmark precedent by approving the world’s first XRP spot ETF, ushering in a new era of accessibility for institutional investors in the crypto market. This approval by the Securities and Exchange Commission (CVM) paves the way for direct exposure to XRP through traditional financial markets. The Hashdex NASDAQ XRP Index Fund will trade on B3, Brazil’s major stock exchange, with Genial Investimentos serving as the fund administrator. 21Shares, Bitwise, Grayscale, and CoinShares have also submitted applications for XRP ETFs in the US. ]