First-Ever Spot XRP ETF Gets Green Light in Brazil

The first place exchange-traded fund based on XRP’s continued rate will soon start trading —just not in the U. S. &nbsp,

Following Wednesday’s approval of the ETF by Brazil’s monetary investments regulation, the Hashdex Nasdaq XRP Index Fund has begun in a pre-operational period and will begin trading on the country’s B3 trade. Hashdex, a bitcoin asset manager, has not yet set a start date. &nbsp,

Issuers around the world are addressing the surge in demand for crypto-focused opportunities as a more positive regulatory environment for these products and greater acceptance among administrative and retail investors. &nbsp,

In recent months, many companies, including issuing companies Bitwise Asset Management, 21Shares, CoinShares, and Grayscale, have submitted programs for area XRP funds. XRP is the third-largest online resource with a$ 158 billion business cap as of this writing. &nbsp,

Brazil: A blockchain hotspot

Brazil is Latin America’s largest market, and the third-largest market in the Americas after the U. S. and Canada. &nbsp,

Brazil has more Bitcoin Stocks than any other Latin American country, and many of the government’s major banks offer traders some form of online property coverage.

Hashdex now does not offer a place Bitcoin ETF in the US, but the SEC approved a product in December that would give buyers subjection to both Bitcoin and Ethereum. &nbsp,

The founders of Ripple, a fintech firm, founded XRP, which aims to move money across borders more quickly and effectively.

Analysts at J. P. Morgan have predicted that such investments could cost between$ 3 billion and$ 6 billion. Since their launch in January 2024, Spo Bitcoin funds have emitted more than$ 40 billion in net inflows. Since trading started in July, ETFs based on Ethereum’s price have received net flows of more than$ 4.5 billion.