Brazil’s SEC Approves World’s First Spot XRP ETF by Hashdex

Brazil is acceptable to motorboat the world’s archetypal spot XRP exchange-traded money (ETF) aft Hashdex’s Nasdaq XRP Index Fund received regulatory approval. The country’s securities watchdog, Comissão de Valores Mobiliários (CVM), gave the greenish airy connected Feb. 19, paving the mode for trading connected Brazil’s B3 exchange.

However, Hashdex has yet to denote an authoritative motorboat date. The plus manager operates assorted crypto ETFs successful Brazil which see Bitcoin, Ethereum, Solana and funds dedicated to DeFi, Web3 and the metaverse. According to a local report.

The determination from the U.S. Securities and Exchange Commission (SEC) to judge spot XRP ETF applications from Nasdaq and Cboe BZX connected behalf of CoinShares, Canary Capital, and WisdomTree occurred soon earlier the approval. 

The quality caused XRP prices to summation by 8% which brought them to $2.72 portion they remained 20% beneath their humanities peak.  

The Brazilian interbank marketplace person Braza Group introduced its caller Brazilian real-pegged stablecoin connected Ripple’s XRP Ledger. Braza Bank serves arsenic the backing instauration for the caller stablecoin called BBRL which operates nether its management.  

The BBRL strategy volition go disposable to the nationalist successful aboriginal 2025 but volition archetypal service institutions until it expands to retail consumers. Braza Group CEO Marcelo Sacomori plans to person BBRL unafraid 30% of the Brazilian marketplace stock earlier the extremity of this year.  

The Brazilian authorities shows accrued crypto involvement due to the fact that its cardinal slope examines blockchain exertion and plus tokenization alongside plans to make a cardinal slope integer currency (CBDC).

Also Read: SEC Acknowledges Cboe BZX’s XRP ETF Filing for Canary Capital