Brazil Approves First Spot XRP ETF

Brazil has officially approved the world’s first spot XRP exchange-traded fund (ETF), taking the lead ahead of the U.S. and other major financial markets. The country’s Securities and Exchange Commission (CVM) has given Hashdex the green light for its XRP ETF, marking a significant milestone for regulated crypto investment. The fund will soon debut on the B3 stock exchange, offering investors direct exposure to XRP.

Brazil’s CVM Approves XRP ETF

The Hashdex Nasdaq XRP Index Fund has become the first spot XRP ETF to receive official regulatory backing, according to recent reports. While the fund was established on December 10, 2024, it remains in its pre-operational phase, awaiting final clearance from B3 before trading begins.

Hashdex, the asset manager behind the fund, has yet to announce an official listing date. However, this approval is a major step forward, as investors seek regulated and secure ways to gain exposure to digital assets.

Brazil’s proactive approach positions it ahead of many other nations, including the U.S., where regulatory uncertainty continues to slow ETF approvals.

XRP ETF Interest Expands Globally

The approval comes amid a growing global interest in XRP ETFs. Major asset management firms, including Bitwise, 21Shares, CoinShares, and Grayscale, have recently filed applications for spot XRP ETFs with the U.S. Securities and Exchange Commission (SEC).

However, the SEC has yet to approve any of these applications. Bloomberg senior ETF analysts James Seyffart and Eric Balchunas estimate a 65% chance of approval but believe the SEC may delay its decision until the Ripple lawsuit is resolved.

XRP Price Surges 7% Post-Approval

Following Brazil’s XRP ETF approval, XRP’s price jumped 7%, reaching $2.67 within 24 hours. This rally made XRP the best-performing asset among the top ten cryptocurrencies, recording a 10% gain over the past week.

Despite the surge, data from Coinglass shows that XRP saw $8.2 million in futures liquidations during this period. Notably:

• $2.31 million came from long positions
• $5.69 million came from short positions

Meanwhile, key market indicators, including the Relative Strength Index (RSI), Stochastic Oscillator (Stoch), and Moving Average Convergence Divergence (MACD), suggest strong buying momentum, signaling further potential gains for XRP.

With Brazil’s ETF launch imminent, investors are watching closely to see if the U.S. and other markets will follow suit.