Brazil has shaken up the crypto world by approving the planet’s first spot XRP ETF. The country’s securities regulator CVM gave the green light to Hashdex’s Nasdaq XRP Index Fund on February 18, 2025, and crypto enthusiasts are practically dancing in the streets. No surprise there – this is kind of a big deal.
The fund, established back in December 2024, will trade on Brazil‘s B3 exchange with Genial Investimentos running the show as administrator. It’s a game-changer for investors who’ve been itching to get their hands on XRP without diving into the whole crypto wallet circus. Yeah, you read that right – no more seed phrases to memorize. XRP has experienced a remarkable 350% gain over the past six months.
Finally, a hassle-free way to invest in XRP – no crypto wallets required, just straight-up trading on Brazil’s B3 exchange.
The market responded exactly how you’d expect – XRP shot up 7% faster than you can say “regulatory approval,” hitting $2.69. Not too shabby compared to its $2.12 price tag earlier that month. The surge reflects growing institutional investor interest as regulated investment products gain traction in the crypto space. The fund ensures investor protection through cold storage vaults for secure asset management.
And while Brazil’s busy making history, the rest of the world is watching with raised eyebrows and taking notes.
This isn’t Brazil’s first rodeo in the crypto ETF arena. They’ve already got Solana ETFs (two of them!), plus Bitcoin and Ethereum funds. The country’s becoming quite the crypto hotshot, with a whopping $90 billion in digital assets recorded between July 2023 and June 2024. Stablecoins are the crowd favorite, making up nearly 60% of the action.
Meanwhile, Ripple‘s been busy too, cozying up to central banks for CBDC development. They’ve got ten of them on speed dial, including Colombia, Georgia, and Montenegro. Talk about friends in high places.
The U.S. SEC is now in an awkward position, sitting on multiple XRP ETF applications while Brazil’s already crossed the finish line.
And let’s be real – this approval isn’t just about one fund. It’s throwing down the gauntlet to regulators worldwide, basically saying, “Your move.” Traditional finance might need to update its playbook sooner than expected.
