Brazils Securities and Exchange Commission (CVM) approves the worlds first XRP spot ETF, Cointelegraph Brasil reports.
Hashdex manages the fund, dubbed HASHDEX NASDAQ XRP FUNDO DE NDICE, while Genial Investimentos administers it.Currently, the ETF sits in its pre-operational phase, gathering initial capital for its B3 stock exchange launch.
The approval positions Brazil ahead of global markets, including the U.S., where XRP ETFs await SEC decisions.Silvio Pegado, Ripples Latin America director, praises Brazils bold move, noting XRPs $151 billion market cap and real-world payment utility.
Previously, Brazil launched a Bitcoin ETF in 2021, showing its knack for crypto innovation.Markets react swiftly as XRP jumps 28.33% in 2025, hitting $2.67 by February 19, per CoinMarketCap data.
Some outlets report a $2.75 peak, reflecting a 17% daily surge tied to the news.
Hashdex, managing $962 million in assets, builds on its Bitcoin and Solana ETF success.Meanwhile, U.S.
firms like Grayscale and Bitwise push for similar ETFs, facing an SEC deadline in October 2025.
Analysts peg approval odds at 65-81%, with potential inflows of $3-6 billion if cleared.Brazil Pioneers Worlds First XRP ETF, Shaking Up Crypto Markets.
(Photo Internet reproduction)Brazils lead pressures other regulators to act fast.
The story traces back to Brazils crypto-friendly stance, fueled by a 200-million-strong population eager for digital assets.Brazils Crypto MilestoneHashdexs Bitcoin ETF already tops $180 million in assets, proving demand.
XRPs rise ties to its role in Ripples cross-border payment systems.
Investors watch closely as Brazil sets a precedent, potentially reshaping global crypto investment.The ETF simplifies access, letting buyers skip the hassles of direct crypto ownership.
Still, its launch date remains unconfirmed, keeping markets on edge.
This milestone highlights Brazils edge in a race where the U.S.
lags, despite its financial might.XRPs 5.87% daily gain at 3:38 PM on February 19 signals strong momentum.
Observers note that success here could spark a wave of ETF approvals worldwide.
For business minds, this move underscores opportunity in regulated crypto products.Brazils example may nudge hesitant markets to follow suit, unlocking billions in institutional funds.
The numbers tell a clear tale: XRP and Brazil mean business.