Brazil to Launch First Spot XRP ETF

Brazil is set to introduce what might be the world’s first spot XRP exchange-traded fund (ETF) following the approval of Hashdex’s XRP fund by the country’s regulator.

The Brazilian Securities and Exchange Commission (CVM) has given its approval to the Hashdex Nasdaq XRP Index Fund, as reported on Wednesday by local news outlet Portal do Bitcoin.

The CVM’s official website indicates that the Hashdex Nasdaq XRP Index Fund is currently in its pre-operational phase.

While the fund is anticipated to be launched on Brazil’s B3 exchange, Hashdex has not yet announced a specific start date, as per the local media report. The Block is seeking further details from Hashdex regarding the launch.