The world's first XRP spot ETF is about to debut! Brazil is the first to approve it!

Brazil may soon launch the world's first XRP spot exchange-traded fund (ETF), which will be implemented after Hashdex's XRP fund receives approval from the Brazilian Securities Commission (CVM). According to local media Portal do Bitcoin, the Hashdex Nasdaq XRP Index Fund has entered the pre-operational phase and is expected to be launched on Brazil's B3 exchange, although a specific launch date has not yet been announced.

This approval comes as the U.S. Securities and Exchange Commission (SEC) reviews multiple XRP spot ETF applications. Several XRP ETF applications, including those from 21Shares, Bitwise, and Grayscale, have garnered the SEC's attention. This move reflects the gradual optimization of the cryptocurrency regulatory environment under the Trump administration, especially after the establishment of the SEC's cryptocurrency working group, which has started to clearly define which crypto assets are not securities.

The long-standing legal battle between Ripple, the developer of XRP, and the SEC continues, but with the new government's regulatory commitments, the market is hopeful that this dispute may be paused. This event has sparked speculation about potential collaboration between Ripple and the Trump administration.

Recently, the price of XRP has also rebounded, rising 7% within 24 hours to reach $2.70. This series of developments undoubtedly injects new momentum into XRP and the entire cryptocurrency market.