It's a good time to start accumulating XRP, isn't it!
CVM approves the first XRP ETF in Brazil, boosting the cryptocurrency market
The Brazilian Securities and Exchange Commission (CVM) has approved the launch of the world's first index fund (ETF) with exposure to XRP, the third largest cryptocurrency by market capitalization, behind only Bitcoin and Ethereum. The ETF, called Hashdex Nasdaq XRP Index Fund, was developed by Brazilian digital asset manager Hashdex and will be managed by Genial Investimentos. The fund is currently in the pre-operational phase, with more information about the start of negotiations expected to be released soon.
The approval of this ETF represents a significant milestone for the Brazilian and global financial markets, highlighting Brazil's position as a leader in innovation and regulation of crypto assets. Silvio Pegado, director for Latin America at Ripple, the company responsible for developing XRP, said that the approval of the ETF by the CVM demonstrates Brazil's visionary approach to crypto markets and financial advancements.
