Hashdex has allegedly received the regulator Greenlight to be the world’s first XRP spot exchange-traded fund.
According to Crypto News Platform Portal do bitcoinThe Securities and Exchange Commission of Brazil has approved the Hashdex Nasdaq XRP Index Fund for listing in Brazil. The report stated that CVM approved the XRP (XRP) spot ETF for listing on the B3 Stock Exchange.
However, the exact date of listing is not clear. Originally, the ETF is on the “East-Relations Phase”, with a genial investment as a fund administrator.
Hashdex, whose Crypto Index ETF received a node from the US Securities and Exchange Commission on December 19, 2024, applied for the XRP Spot ETF in Brazil on 10 December.
Approval for an XRP spot ETF in Brazil comes as several issues in the US who are waiting for the possible node from SEC. These include proposals of Grancale, Wisdomistry, Rex-Ospre, Canary Capital and 21 Sharas. SEC recently accepted CBOE filing for Bitwaiz XRP ETF.
Although these proposals wait for SEC’s final approval, Hashdex’s XRP ETF may soon live in the B3 Stock Exchange.
According to Sylvio Pagadadado, Managing Director, Latin America, the first place of its time was hit by XRP ETF in the market. Ripple execution indicated the growing demand in institutional investors as the real -world utility and major factors of cryptocurrency.
The XRP price was around around $ 2.65 at the time of writing, 5% above the last 24 hours as the market reacted to the news. AltCoin was the top beneficiary of the 10 largest cryptocurrency by the market cap at that time, with a weekly profit of 10%.
