By Nermeen Nabil Khear 
The regulator approved the Hashdex Nasdaq XRP Index Fund, clearing the way for XRP’s first spot ETF. However, this approval is not in the U.S.
This XRP ETF is now in a pre-operational phase and will soon be listed on Brazil’s B3 exchange.
Brazil Approves XRP ETF as U.S. Regulators Hold Back
While Hashdex has not announced a specific launch date, the approval marks a major step forward for crypto-based investment products in Brazil. A spot XRP ETF means the fund directly holds XRP, tracking its real-time market price. This gives investors exposure to the cryptocurrency without needing to own or store it themselves. The move signals growing institutional interest in XRP, currently the third-largest digital asset with a market cap of $158 billion.
While Brazil takes the lead, U.S. regulators remain cautious. In recent weeks, major financial firms—including Bitwise Asset Management, 21Shares, CoinShares, and Grayscale—have filed applications for spot XRP ETFs, but none have received approval yet.
BREAKING: Hashdex receives approval for the world’s first $XRP spot ETF in Brazil. pic.twitter.com/UOznt0li3O
— Cointelegraph (@Cointelegraph) February 19, 2025
Hashdex itself has been expanding its offerings. While it does not yet have a spot in Bitcoin ETF in the U.S., it secured SEC approval in December for a fund providing exposure to both Bitcoin and Ethereum.
More About XRP ETFs
A spot XRP ETF has just been filed by WisdomTree, a major asset manager overseeing $100 billion in assets. The filing was officially registered in Delaware.
BREAKING: A spot $XRP ETF was just filed by $100 billion asset manager “Wisdom Tree”
This was registered in Delaware. And it is confirmed to be a legitimate filing. pic.twitter.com/ST3oP38VlE
— MASON VERSLUIS (@MasonVersluis) November 25, 2024
This marks a significant step as more financial giants push for regulatory approval of crypto-based investment products in the U.S. WisdomTree’s move signals growing institutional demand for XRP, despite ongoing uncertainty from regulators.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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