Brazil Makes History with Hashdex Spot XRP ETF Approval

Brazil Approves Hashdex’s Spot XRP ETF, Marking a Potential Global First

Brazil is poised to make history by launching what could be the world’s first spot XRP exchange-traded fund (ETF). This milestone comes after the country’s Securities and Exchange Commission (CVM) granted approval to the Hashdex Nasdaq XRP Index Fund, as reported by local news source Portal do Bitcoin.

While the fund has received regulatory clearance, it remains in its pre-operational phase. Investors eager to gain exposure to XRP through an ETF will need to wait for further announcements from Hashdex, as the firm has not yet disclosed a specific launch date. When it does go live, the ETF is set to trade on Brazil’s B3 exchange.

The approval of Brazil’s XRP ETF comes at a time when the United States is witnessing growing interest in similar financial products. The U.S. Securities and Exchange Commission (SEC) is currently reviewing multiple spot XRP ETF applications from asset managers such as 21Shares, Bitwise, Grayscale, and CoinShares. In addition to XRP, the SEC has also acknowledged filings for spot ETFs tied to other prominent altcoins, including Solana and Litecoin.

Shifting Regulatory Landscape and Market Reactions

The prospect of spot XRP ETFs gaining traction is unfolding against the backdrop of evolving cryptocurrency regulations. The re-election of Donald Trump as President has introduced a more crypto-friendly stance in the U.S. regulatory environment. With Trump’s administration signaling a commitment to regulatory clarity, the SEC has formed a dedicated crypto task force to examine which digital assets may not qualify as financial securities. This shift could have significant implications for cryptocurrency markets, including the ongoing legal disputes between the SEC and major industry players.

One such high-profile case is the SEC’s long-standing legal battle with Ripple, the company behind XRP. The regulator alleges that Ripple engaged in the sale of unregistered securities, a claim that has sparked intense debates within the crypto community. Under the prior leadership of former chair Gary Gensler, the case remained a focal point of the SEC’s enforcement efforts. However, given the changing regulatory climate, some speculate that the lawsuit against Ripple could be put on hold, mirroring the agency’s approach toward its legal actions against Binance.

Meanwhile, Trump’s engagement with the crypto sector has not gone unnoticed. Recently, he shared news articles about Ripple and XRP on his Truth Social platform. This move has fueled speculation regarding a potential collaboration between Ripple and the Trump administration, though no official confirmation has surfaced.

As excitement builds around regulatory shifts and ETF developments, XRP has demonstrated notable market momentum. The cryptocurrency surged 7% in the past 24 hours, reaching $2.70. With Brazil paving the way for spot XRP ETFs and the U.S. regulatory landscape in flux, the coming months could usher in transformative changes for XRP and the broader crypto industry.