Brazil approves world's first XRP ETF
The Brazilian Securities and Exchange Commission (CVM) has approved the world’s first exchange-traded fund (ETF) that directly holds XRP, the native cryptocurrency of Ripple, from Hashdex. This approval is recorded in the CVM database and was first reported on the Portal do Bitcoin platform.The recently approved ETF, called the “Hashdex NASDAQ XRP Index Fund,” is expected to be launched on Brazil’s main stock exchange — B3. The official launch date and trading details have not yet been announced, but Hashdex has confirmed the approval and promised to provide further trading information soon.“XRP is a natural choice for an ETF due to its practical utility, growing institutional demand, and significant market capitalization,” said Silvio Pegado, managing director of Ripple in Latin America.“The approval of the first XRP ETF by the Brazilian Securities and Exchange Commission demonstrates the country’s progressive approach to developing cryptocurrency markets and financial innovations,” added Pegado.“Through regulation and public consultations, Brazil continues to strengthen its reputation as a country open to innovation, and we hope it will play a central role in the development of the cryptocurrency sector in the future.”JP Morgan predicts that spot ETFs for Solana and XRP could attract up to $14 billion in investments within the first 12 months after their approval by the U.S. Securities and Exchange Commission.
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