#XRPETF

Brazil presented the first ever spot ETF XRP, debuting on the B3 stock exchange.

The ETF, managed by Hashdex, will track the price of XRP using the Nasdaq XRP reference price index.

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The world's first ETF tracking the spot price of XRP, the cryptocurrency asset of Ripple, officially debuted on Brazil's main stock exchange B3 on April 25, according to a press release from Valor Econômico.

The fund, named Hashdex Nasdaq XRP Fundo de Índice or Hashdex Nasdaq XRP FI, is managed by Hashdex and administered by Genial Investments Securities Brokerage SA. Genial Bank SA is the custodian of the ETF.

The global asset manager received the green light from the Brazilian Securities and Exchange Commission (CVM) to launch the XRP-linked fund in February. The approval followed after the securities regulator approved Hashdex's Solana spot ETF in August of last year.

After regulatory approval, the fund entered the pre-operational phase. In this phase, it has not yet engaged in active trading but has undergone preparatory stages.