World’s First Spot XRP ETF Approved in Brazil, Price Jumps 6%

• Brazil greenlights Hashdex NASDAQ XRP Fund for global investors.
• XRP gains over 6%, approaching $3 amidst positive momentum.
• SEC reviews XRP ETF proposals, signaling potential U.S. approval soon.

Brazil’s Securities and Exchange Commission (CVM) has given the go-ahead for the world’s first spot XRP exchange-traded fund (ETF). 

The Hashdex NASDAQ XRP Fund is currently in its pre-operational phase, with the official launch date coming soon. The approval from Brazil’s securities regulator is a big deal, as this fund will give global investors a simple, regulated way to invest in XRP without having to deal with direct currency exchanges.

The Hashdex NASDAQ XRP Fund is managed by Genial Investimentos, a local Brazilian investment firm, in partnership with Hashdex. This ETF will soon be listed for trading on Brazil’s B3 exchange, opening it up to both local and international investors. Although there is no official start date yet, more information will be released shortly.

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