Brazil is set to introduce the first-ever spot XRP exchange-traded fund (ETF) following regulatory approval for the Hashdex XRP Index Fund.
Brazil’s Regulator Greenlights XRP ETF
Brazil’s Securities and Exchange Commission (CVM) has approved Hashdex’s Nasdaq XRP Index Fund, according to local media reports. The fund is now in the pre-operational phase and is expected to launch on Brazil’s B3 Exchange once finalized.
While Hashdex has yet to confirm the official launch date, this approval makes Brazil the first country to approve a spot XRP ETF, ahead of pending applications in the United States.
SEC Reviewing XRP ETF Applications in the U.S.
In the U.S., the Securities and Exchange Commission (SEC) is currently reviewing several XRP ETF applications from 21Shares, Bitwise, Grayscale, and CoinShares. The SEC has also acknowledged spot ETF filings for Solana and Litecoin, reflecting growing institutional demand for altcoin investment products.
These developments align with the pro-crypto shift under President Donald Trump, whose administration has committed to bringing regulatory clarity to digital assets. The SEC’s recently established crypto task force is focused on defining which cryptocurrencies qualify as financial securities.
Ongoing Legal Battle Between Ripple and SEC
Despite the approval of an XRP ETF in Brazil, Ripple remains embroiled in a long-running legal dispute with the SEC over whether XRP qualifies as an unregistered security.
However, with Trump’s administration signaling a less aggressive regulatory stance, many anticipate that legal actions against Ripple and other crypto firms may be paused—similar to the recent slowdown in the SEC’s case against Binance.
Further fueling speculation, Trump recently shared news articles about XRP and Ripple on Truth Social, leading some to believe his administration may explore direct collaboration with Ripple.
