#XRPETF

Hashdex, known for launching the first cryptocurrency ETF in all of Latin America in 2021, is now expanding its catalog, managing a total of nine digital asset investment funds in Brazil and 33 globally.

Brazil is ahead of the United States.

The launch comes as participants in the United States eagerly await the approval of a series of cryptocurrency-based ETFs, including one that offers investors direct exposure to XRP.

The U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs in January 2024, followed by the approval of Ethereum ETFs in May. Since then, the market for regulated cryptocurrency investment products has seen exponential growth, motivating players both inside and outside the U.S. to bet on a wider range of funds.

Major asset managers, including CoinShares, Bitwise, 21Shares, and Grayscale, have submitted proposals to the SEC to offer spot XRP ETFs in the U.S. market, but the regulator has not yet rendered a verdict.

The SEC, historically cautious with cryptocurrency investment products, is currently reviewing more than 70 proposals to list cryptocurrency ETFs on local exchanges. Approval is expected to occur this year, in line with the favorable view of the Donald Trump administration towards the asset class.

Brazil has been ahead of the United States in this area for years. In 2021, Brazilian regulators approved Hashdex for launching the first spot Bitcoin ETF, years before the SEC's approval in the U.S. Last year, the CVM also approved ETFs based on Solana, which do not yet exist in the U.S. market.

XRP has a market capitalization of USD $128 billion at the time of publication. The token closely linked to Ripple is trading at USD $2.19, a 0.16% increase in the last 24 hours and 5.5% over the week.