The first XRP Exchange Traded Fund world spot (ETF) should soon make its debut in Brazil after being approved by the country’s securities regulator, the Valores Mobiliários Camissão.
The regulator’s website shows that the fund, the Hashdex Nasdaq XRP Fundo de índice, is currently in preoperational phase after being installed on December 10, 2024. The fund’s administrator is Genial Investos, a local investment brokerage company.
The minced fund manager confirmed to the local news portal of Bitcoin that the fund was approved by the CVM. Although he has no official date to start negotiating on the Brazil B3 scholarship, Hashed said he had quickly disclosed more information.
In the United States, the Securities and Exchange Commission has received numerous ETF XRP applications from several main asset managers, including Coinshares, Bitwise, 21Shares and Grayscale.
The launch of these funds, which allow investors to obtain regulated exposure to the underlying asset without going through crypto exchanges or to treat private keys, could attract billions to space according to JPMorgan analysts .
The impact of an ETF XRP spot in Brazil will probably be overshadowed by the launch of a fund similar to the United States.
Coindesk stretched out in Hashdex but did not hear from the time of the press.
