World’s First Spot XRP ETF Approved
In a landmark moment for the cryptocurrency industry, Brazil has secured its place at the forefront of innovation by approving the world’s first spot XRP exchange-traded fund (ETF). Managed by Hashdex and sanctioned by Brazil’s securities regulator, this groundbreaking development signals a new era for XRP and regulated crypto investment vehicles globally. Here’s everything you need to know about this historic milestone and its far-reaching implications.
Introducing the Hashdex Nasdaq XRP Index Fund
On February 19, 2025, Brazil’s Comissão de Valores Mobiliários (CVM) gave the green light to the Hashdex Nasdaq XRP Index Fund, an ETF poised to debut on the prestigious B3 stock exchange. This fund offers investors seamless, direct exposure to XRP—Ripple’s fast and efficient native cryptocurrency—without the complexities of managing private wallets or direct ownership. Currently in its pre-operational phase under the stewardship of Genial Investimentos, the fund’s official launch date remains forthcoming, though Hashdex has promised additional details soon.
Hashdex, a seasoned leader in crypto asset management, builds on its impressive portfolio—think Bitcoin, Ethereum, and Solana ETFs, plus innovative funds tied to DeFi and Web3—to deliver this first-of-its-kind product. For Brazil’s 200 million-strong market, this ETF is more than an investment option; it’s a catalyst for mainstream crypto adoption.
Market Responds with Enthusiasm: XRP Climbs 7-8%
The approval sent ripples (pun intended) through the market. XRP’s price surged 7-8% on the announcement day, reaching approximately $2.72, bolstered by a 26% spike in 24-hour trading volume to $5.5 billion, according to CoinDesk. Technical indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), point to sustained bullish momentum. However, volatility persists—Coinglass data reveals $8.2 million in futures liquidations, with short traders bearing the brunt at $5.69 million. This dynamic response underscores the ETF’s immediate impact and investor confidence.
Why Brazil’s Leadership Matters
Brazil’s approval isn’t just a local triumph—it’s a global pacesetter. With a robust crypto ecosystem already boasting the highest number of Bitcoin ETFs in Latin America, Brazil is leveraging its large, engaged population to drive XRP’s liquidity and accessibility. This regulated investment vehicle eliminates technical barriers, inviting both institutional and retail investors to participate in XRP’s growth. The result? A potential surge in adoption that could reverberate across international markets.
The implications extend beyond Brazil’s borders. Analysts see a 65-80% likelihood of U.S. spot XRP ETF approvals, where firms like CoinShares, Canary Capital, and WisdomTree await SEC decisions amid Ripple’s ongoing legal saga. Brazil’s decisive action could pressure regulators worldwide to accelerate their own frameworks, positioning XRP as a cornerstone of institutional crypto portfolios.
