The Brazilian Securities and Exchange Commission (CVM) has granted the authorization for an XRP spot ETF.
This marks the world’s first exchange-traded fund to invest directly in XRP. The fund remains in its pre-operational phase and currently lists Genial Investimentos as its administrator.
Meanwhile, the product awaits additional documentation and a scheduled trading start date. Notably, the approval reflects Brazil’s regulatory progress in the crypto market.
Hashdex has secured approval from the Brazilian Securities and Exchange Commission to introduce the world's first #XRP spot ETF in Brazil. The listing date on the Brazilian Stock Exchange B3 is yet to be confirmed. pic.twitter.com/nNAR6uO2id
— TheCryptoBasic (@thecryptobasic) February 19, 2025
Notably, the Hashdex Nasdaq XRP index fund received authorization on December 10 of last year. The CVM confirmed the approval without providing extra details about its future operations.
However, Hashdex confirmed the news to a local newsroom and mentioned that the product launch date remains unannounced. Meanwhile, the firm promised to provide more information about trading schedules soon.
Transitioning from regulatory approval to market readiness, the fund’s establishment marks a pioneering step for exchange-traded products involving XRP.
XRP Market Position and Global Outlook
XRP holds a market capitalization of $151 billion and ranks as the third-largest cryptocurrency globally, following Bitcoin and Ethereum. The token presents real-world utility, and institutional interest in XRP continues to grow.
Meanwhile, analysts have estimated that approved XRP ETFs in the United States might attract new investments between $3 billion and $6 billion.
In the U.S., several proposals remain under review. The Rex-Osprey XRP ETF, the Canary XRP ETF, and the 21Shares Core XRP Trust now undergo regulatory scrutiny.
Furthermore, proposed XRP ETFs have attracted significant attention among asset managers and market participants.
U.S. Regulatory Developments and ETF Proposals
The U.S. Securities and Exchange Commission has acknowledged multiple filings related to XRP ETFs. The regulator recognized Bitwise’s proposed XRP ETF as a commodity-based trust share and accepted Cboe BZX Exchange’s bid to list Bitwise’s ETF shares.
Meanwhile, asset managers such as WisdomTree and 21Shares have also submitted their applications for XRP ETFs.
Notably, with the ongoing acknowledgment of XRP ETF filings, the SEC now has a maximum of 240 days from the filing publication in the Federal Register to decide on these proposals.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
