Brazil’s Securities and Exchange Commission (CVM) approved the country’s first XRP spot exchange-traded fund (ETF) on February 18, making it the first of its kind globally.
The ETF was introduced by asset manager Hashdex and will allow investors to gain exposure to XRP, the native token of the Ripple blockchain, through Brazil’s stock exchange, B3.
The ETF, officially named the Hashdex Nasdaq XRP Index Fund, was established on February 18, 2025, and is currently in its pre-operational phase. Genial Investimentos, a Brazilian brokerage firm, has been appointed as the fund’s administrator.
According to a report from Portal do Bitcoin, this new approval marks a breakthrough for both Hashdex and the country’s financial market.
Ripple’s Latin America Managing Director, Silvio Pegado, highlighted the significance of this approval, citing XRP’s real-world applications, rising institutional demand, and strong market presence as key factors supporting its suitability for an ETF. “XRP is a natural fit for an ETF due to its real-world use cases, rising institutional demand, and strong market presence,” Pegado stated
Industry experts see this move as a massive step toward a broader crypto adoption. Especially as XRP is the third-largest cryptocurrency globally with a market capitalization of $151 billion, trailing only Bitcoin and Ethereum.