- 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.
Related: XRP Whales Continue Accumulation Spree, 20 Million More Added
XRP’s Gains Visibility
This ETF approval shines the spotlight on XRP and further solidifies its position as a leading digital asset. More capital is expected to flow into XRP. This move also comes while the U.S. market is still dealing with regulatory uncertainty surrounding XRP.
“The approval of the first XRP ETF by the CVM demonstrates Brazil’s visionary approach to crypto markets and financial advancements. Through regulation and public consultations, Brazil continues to position itself as a country open to innovation, and we expect it to be central to more pioneering advancements in the crypto sector in the future,” said Silvio Pegado, Ripple Managing Director Latin America.
Looking at the US, recent developments show that the U.S. Securities and Exchange Commission (SEC) is currently reviewing various XRP-related ETF proposals, including those from WisdomTree and Grayscale. This suggests that a spot XRP ETF could soon be approved in the U.S.
XRP Price Sees Its Effects
As seen with Bitcoin, the approval of ETFs for digital assets can have impacts on the price. In the last 24 hours, XRP price has gained more than 6% and is currently aiming to break the $3 mark.
Related: XRP Price Momentum Intact But Analyst Predicts Short-Term Dip: Details
U.S. President Donald Trump’s endorsement of Ripple on Truth Social recently also contributed to the price surge. The influx of institutional and retail capital could further drive up XRP’s price, increasing its adoption as a mainstream asset.
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