Brazilian ETF approval
$XRP just took the lead in the crypto market, jumping 6% to $2.75 after Brazil approved the world’s first spot XRP ETF.
What’s the deal?
Hashdex XRP ETF got regulatory approval, giving investors direct exposure to XRP in a controlled environment. The fund has been in the works since December 2024 and is now in its final pre-launch phase. Ripple CEO Brad Garlinghouse shared the news, highlighting its importance.
Why does this matter?
Brazil is proving to be a major player in crypto adoption. It already launched the first-ever Solana ETF and ranks in the top 10 for crypto adoption (per Chainalysis).
What about the U.S.?
The SEC is still reviewing XRP ETF applications, but approval seems unlikely until the Ripple lawsuit is settled. Some analysts believe that’s the main roadblock.
Still, crypto traders on Polymarket are betting big—80% believe an XRP ETF will be approved in 2024.
Right now we don't see this having any impact on the market, but it's still ahead.
