On April 25, 2025, #Brazil officially launched the world's first spot ETF $XRP with the code XRPH11 on their main stock exchange, B3.
This ETF is managed by the renowned asset management company Hashdex and aims to track the spot price of XRP using the Nasdaq index.
This move marks a new history in the global financial industry as previously the majority of crypto ETFs were based on Bitcoin or Ethereum.
This impressive launch demonstrates how quickly the adoption of digital assets is occurring within traditional finance.
Although the US has yet to approve an ETF for this Ripple-owned token, the launch in Brazil indicates that global demand for crypto-based financial products continues to rise.
According to a report from TheCryptoBasic, Brazil's move could be a 'warm-up' before other major countries follow suit.
The Impact of the ETF on XRP Price
XRP's price experienced a slight spike to around $2.20 following this announcement, but has now fallen back to $2.18.
However, analysts predict that a larger price surge could come if the XRP ETF is also approved in major markets like the US.
According to BraveNewCoin analysis, approved crypto ETFs in developing countries could be the foundation for exponential growth for digital asset projects.
Meanwhile, ProShares Trust is filing plans to launch an ETF for the Ripple-owned token in the US on April 30, 2025.
Additionally, CME Group announced plans to launch XRP futures contracts in May, a strategic move to strengthen XRP market infrastructure.
If this ETF and futures are approved, XRP could potentially become the third largest crypto asset to gain widespread exposure in the regular market, after Bitcoin and Ethereum.
The launch of the first spot XRP ETF in Brazil through Hashdex is a significant milestone for this coin and the global crypto market.
This success could pave the way for new financial product innovations and accelerate crypto adoption by financial institutions in various countries.
Global investors are currently monitoring similar developments in the United States, as approval in the US market could lead to a significant surge in XRP prices and transaction volumes.