On the 20th (local time), The Block cited local media as saying that Hashdex's XRP fund had received approval from Brazil's securities regulator, the Brazilian Securities and Exchange Commission (CVM).
According to the CVM official website, the Hashdex Nasdaq XRP Index is expected to launch the world's first physical XRP ETF.
The "Fund" is currently in pre-operational stages. The fund is expected to be traded on Brazil's B3 stock exchange, but Hashdex has not yet announced a launch date.
Brazil's approval comes amid a physical XRP ETF application currently under consideration in the United States, where the Securities and Exchange Commission (SEC) recently approved a joint venture between 21Shares, Bitwise, and
The company approved XRP ETF applications submitted by Grayscale, CoinShares and others. It also approved other altcoin-based spot ETFs such as Solana and Litecoin.
The TF application has also been submitted to the SEC and is under review. These filings and developments come in the context of positive changes in the cryptocurrency regulatory environment following the reelection of President Donald Trump.
Under the new administration, the SEC has pledged to clarify cryptocurrency regulation and recently established a Cryptocurrency Task Force to determine which cryptoassets are and are not financial securities.
Meanwhile, Hashdex has yet to announce a launch schedule for the ETF.
2025/02/21 10:01 KST
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