Brazil is set to become the first country to launch an XRP ETF after the country’s regulator gave the green light to the product launched by Hashdex. The Hashdex Nasdaq XRP Index Fund has been launched in the pre-operational phase and is set to debut on Brazil’s B3 exchange after the country’s financial investment regulator gave the green light to the ETF on Wednesday.
The approval of the product comes as issuers around the world look to meet the growing demand for crypto-focused investments, amid a more favorable regulatory environment for these products and growing acceptance among retail and institutional investors. However, there is no official word yet on when the product will launch.
