Brazilian CVM Greenlights Hashdex’s XRP ETF

Should these reports be confirmed, they would herald a landmark moment for the crypto world in recent weeks. While the precise launch date and details remain cloaked in anticipation, the HASHDEX NASDAQ XRP INDEX fund has been preparing for its debut since December 2024. Once unleashed, the XRP ETF will find its home on B3, the illustrious stock exchange of Latin America in Brazil.

Meanwhile, XRP’s value has already ascended by nearly 8%. Yet, the true spark behind this climb seems to be the murmur of a potential alliance between Ripple and the Trump administration, ignited by Donald Trump’s recent social post spotlighting an article on XRP. As per CoinMarketCap, XRP’s market cap currently stands at $155 billion.

XRP represents the quintessential choice for an ETF, underpinned by its inherent utility in everyday applications, escalating institutional demand, and substantial market volume. With the aid of stringent regulation and proactive public consultations, Brazil is steadfastly cultivating an environment conducive to innovation. We are optimistic that it will soon evolve into a central nexus for groundbreaking progress within the crypto asset domain,

commented Silvio Pegado, Managing Director for Ripple in Latin America.

Moreover, it should be highlighted that numerous American enterprises—such as Bitwise, Grayscale, and CoinShares—have already sought the SEC’s blessing for a spot XRP ETF. Their proposals remain in limbo, delayed likely by ongoing court battles and the firm policies of former SEC head Gary Gensler. Yet, with his departure, a new chapter may be on the horizon.

Read on: Ripple Brings Blockchain to Brazil and Portugal in Unicambio Deal