Brazil to Roll Out Groundbreaking Spot XRP ETF.

Brazil Approves First Spot XRP ETF, Awaiting Official Launch Date

Brazil is on track to launch the world’s first spot XRP exchange-traded fund (ETF) after receiving approval from the country’s securities regulator, the Comissão de Valores Mobiliários (CVM).

Regulatory filings show that the fund, named HASHDEX NASDAQ XRP FUNDO DE ÍNDICE, has been in its pre-operational phase since December 10, 2024. The fund is managed by Hashdex, with Genial Investimentos, a local investment brokerage, serving as its administrator.

Hashdex confirmed the approval to local news outlet Portal do Bitcoin but has not yet set an official launch date for trading on Brazil’s B3 exchange. The firm stated that more details will be released soon.

Meanwhile, in the United States, the Securities and Exchange Commission (SEC) is reviewing multiple applications for spot XRP ETFs from major asset managers, including CoinShares, Bitwise, 21Shares, and Grayscale. Analysts at JPMorgan suggest that such ETFs could attract billions of dollars by providing investors with regulated exposure to XRP without requiring direct custody of the asset.

Despite the significance of Brazil’s spot XRP ETF, experts believe its impact will be overshadowed by a potential U.S. approval, given the larger market size and institutional interest.

CoinDesk reached out to Hashdex for further comment but has yet to receive a response.

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