The launch of the world’s first-ever XRP spot ETF has been officially approved, and the credit goes to Brazil. Today, the Brazil Securities Commission (CVM) officially greenlit the launch of Hashdex’s XRP spot ETF.
While the exact listing date for the ETF on Brazil’s B3 stock exchange is yet to be announced, Hashdex representatives have assured in their official announcement that more details will be shared “soon.”
According to Silvio Pegado, Ripple’s General Manager for Latin America, XRP is a perfect candidate for an ETF right now due to its real-world utility, growing institutional demand, and the defeat of the US SEC in its infamous legal battle.
In the US, XRP ETFs are still under regulatory review, with several proposals, including the Rex-Osprey XRP ETF, Canary XRP ETF, and 21Shares Core XRP Trust, still waiting for the green light from American regulators, meaning Brazil has officially beat them to the punch.
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Jai Hamid
Jai Hamid has been covering crypto, stock markets, technology, the global economy, and the geopolitical events that affect markets for the past 6 years. She has worked with blockchain-focused publications including AMB Crypto, Coin Edition, and CryptoTale on market analyses, major companies, regulation, and macroeconomic trends. She has attended London School of Journalism and thrice shared crypto market insights on one of Africa’s top TV networks.
