Brazil’s Securities and Exchange Commission has granted approval to Hashdex for the launch of the world’s first XRP-focused exchange-traded fund. The Hashdex NASDAQ XRP Index Fund set to debut on Brazil’s primary stock exchange B3 marks a significant milestone in cryptocurrency investment on a global scale. Details regarding the fund’s trading specifics will follow soon from Hashdex.

Established on December 10 2024 the fund will be administered by major financial entity Genial Investimentos. Silvio Pegado managing director of Ripple in Latin America praised XRP’s selection for the ETF highlighting its practical utility strong market demand and significant market cap which currently ranks third globally at $152 billion according to CoinGecko.

This groundbreaking approval underscores Brazil’s forward-thinking stance in crypto regulation and innovation. With its history of pioneering crypto ETFs Hashdex continues to lead the sector promising further advancements. The introduction of the XRP ETF is poised to catalyze future financial innovations within the Brazilian market and beyond.