Hashdex, a leading digital asset management firm, has received regulatory approval from Brazil’s Securities and Exchange Commission (CVM) to launch the world’s first spot XRP ETF.
The news was officially reported by Portal do Bitcoin, and the filing can be found on the CVM’s database. The fund, officially named the HASHDEX NASDAQ XRP INDEX FUND, will be listed on Brazil’s primary stock exchange, B3, granting investors regulated exposure to the crypto asset.
JUST IN: Hashdex has received approval from the Brazilian Securities and Exchange Commission to launch the world’s first XRP spot ETF.
— Jacob King (@JacobKinge) February 19, 2025
While the exact launch date remains unclear, Hashdex has confirmed that the ETF is in its pre-operational phase, with financial services firm Genial Investimentos acting as the fund’s administrator. The move comes at a time when multiple issuers in the U.S., including Grayscale, Bitwise, WisdomTree, and 21Shares, are still awaiting approval from the SEC for similar investment products.
Hasdex Expands ETFs Offering With XRP
Brazil has been at the forefront of crypto ETF innovation. In 2021, the country became one of the first to approve a Bitcoin ETF, followed by Ethereum-based funds and, more recently, a Solana ETF in 2024. These developments demonstrate Brazil’s proactive approach to digital asset regulation and its willingness to embrace financial innovation.
Silvio Pegado, Ripple’s managing director for Latin America, emphasized that XRP’s real-world utility and institutional demand made it a natural candidate for an ETF. He further noted that Brazil’s regulatory environment fosters innovation and could pave the way for more pioneering developments in the crypto sector.
While Brazil moves forward with XRP ETFs, regulatory hurdles remain in the U.S. The SEC has yet to approve a spot XRP ETF despite multiple filings. The agency recently acknowledged an application from CoinShares, but approvals for similar proposals from Grayscale, 21Shares, and Bitwise remain pending.
With the recent moves in the U.S. political arena and increasing institutional interest in digital asset investments, analysts speculate that an eventual green light for XRP ETFs in the U.S. could significantly impact the broader market.
