Brazil has become the first country to approve an XRP spot ETF, marking a major step forward in digital asset adoption. The product developed by Hashdex will soon be traded on Brazil’s B3 stock exchange, opening up new investment opportunities for both individuals and institutions.
First XRP Spot ETF Approved
#Brazil Brazil's financial regulator has just given the green light to the Hashdex Nasdaq XRP Index Fund, making Brazil the first market to launch an XRP spot ETF. While an official trading date has not been announced, this is a positive sign that the market is becoming more open to crypto-based investment products.
This approval comes amid increasing demand for investment in digital assets, with major companies like Bitwise, 21Shares, CoinShares, and Grayscale joining the race to launch the XRP ETF. Currently, $XRP is the third-largest cryptocurrency by market capitalization, approximately 158 billion USD.
Brazil: The Cryptocurrency Hub of Latin America
Brazil is not only the largest economy in Latin America but also the leading country in the region for cryptocurrency. The country has more Bitcoin ETFs than any other in the region, while major banks have also integrated digital assets into their services.
Hashdex – the crypto asset manager behind the XRP ETF – had previously received approval from the U.S. SEC for a combined product $BTC and $ETH , but there is still no spot Bitcoin ETF in the U.S.
XRP ETF Has the Potential to Attract Billions of USD
XRP was created by the founders of Ripple, a fintech company focused on optimizing cross-border payments. According to J.P. Morgan's predictions, the fund #etfxrp could attract between 3 to 6 billion USD in investment flows.
Meanwhile, spot Bitcoin ETFs have recorded over 40 billion USD in net cash flow since their launch in January 2024, while Ethereum ETFs have garnered over 4.5 billion USD since July 2023. With this favorable backdrop, Brazil's XRP ETF could become an important milestone, promoting the development of cryptocurrency globally.
🔹 Conclusion: Brazil's pioneering of the XRP spot ETF not only provides investors with a new option but also strengthens the country's position in the digital asset field. This could serve as a stepping stone for many other countries to follow in the near future. #anhbacong
