According to foreign media (Portal do Bitcoin) yesterday (19th), digital asset management company Hashdex's application for a spot ETF of Ripple (XRP) submitted in Brazil has been approved by the Brazilian Securities Commission (CVM), making it the world's first XRP spot ETF. (Background: The SEC has officially accepted applications for spot ETFs for Dogecoin (DOGE) and XRP, with Bloomberg analysts estimating a high approval probability of up to 75%) (Supplementary background: Bloomberg analysts predict the approval probabilities for four major altcoin ETFs (SOL, XRP, DOGE, LTC), with the ADA spot ETF also joining the fray). According to foreign media (Portal do Bitcoin) yesterday (19th), digital asset management company Hashdex's application for a spot ETF of Ripple (XRP) submitted in Brazil has been approved by the Brazilian Securities Commission (CVM), making it the world's first XRP spot ETF. However, it is worth noting that although Hashdex's XRP spot ETF application has received official approval from Brazil, the date for the ETF's official listing on the Brazilian stock market (B3) has not yet been confirmed, and further information will await additional announcements. Nevertheless, regarding the approval of this application, Silvio Pegado, Managing Director of Ripple Latin America, commented during an interview that XRP has practicality in the real world, and institutional demand is also increasing, so the ETF's approval is a natural outcome. The final approval of the XRP ETF by Brazilian authorities indicates Brazil's forward-thinking approach in the cryptocurrency market and financial progress. XRP breaks through $2.7 Motivated by this, XRP has rebounded in the recent sluggish market, having surpassed $2.7 at the time of writing, with a nearly 24-hour increase of 7.1%. Its market capitalization has also risen to $156 billion, making it the third-largest cryptocurrency in the current market, only behind Bitcoin and Ethereum. When will the U.S. approve the XRP spot ETF? Although Brazil has taken the lead in globally approving the first Ripple spot ETF, the market is still more focused on the movements in the U.S. Currently, companies including Grayscale, Bitwise, 21Shares, and Canary Capital have also submitted applications for XRP spot ETFs to the SEC, and the SEC has formally accepted the 19b-4 application documents submitted by Grayscale and the New York Stock Exchange Arca (NYSE Arca), indicating that the probability of approval has increased. The current formal approval of this product in Brazil may also accelerate the review process in the U.S. Moreover, Bloomberg analysts have previously predicted that the probability of the XRP spot ETF receiving approval from the U.S. SEC is 65%, due to its high market popularity and sufficient market capitalization. However, it is important to note that the current lawsuit between Ripple and the SEC has not yet fully concluded, and external predictions suggest that Ripple will ultimately achieve a favorable outcome, thereby accelerating the U.S. approval of the XRP ETF. Additionally, institutions like Bitwise that have applied will benefit from the market confidence brought by regulatory clarity. Extended reading: Is a major trend for XRP coming? The SEC and Ripple lawsuit may conclude before April to May, and the Ripple spot ETF is under attention. Related reports: Multi-currency ETF! Grayscale submits applications for Solana and Litecoin spot ETFs, CoinShares also throws in XRP and LTC applications. JPMorgan: If Solana and XRP ETFs are approved, they are expected to attract $13.6 billion in funding in the first year. Cyber Capital founder: XRP is not a cryptocurrency, but is highly centralized and controlled by the Ripple Foundation. "XRP spot ETF has passed! Hashdex's application has been approved by the Brazilian Securities Commission, is the U.S. next?" This article was first published in BlockTempo (the most influential blockchain news media).