Hashdex Gains Approval to Launch the First-Ever XRP ETF in Brazil | Airdrop Alert Pro

The world’s first XRP ETF is almost here because Hashdex won approval to launch such products in Brazil. There are few details, including the company release date, but the asset manager claims it will provide more information as soon as possible.

This kind of development doesn’t cost much, but it’s not surprising. Despite the strong momentum of the SEC, XRP is still struggling, which is likely to approve the U.S. ETF soon.

Brazil wins XRP ETF competition

Momentum is building around the world Start XRP ETFits supporters have just won a major breakthrough. In the United States, The SEC has begun to admit Some Related Applicationsvery optimistic The United States will get one this year.

However, according to local ReportBrazil will receive the world’s first XRP ETF launched by asset manager Hashdex.

“According to information on the (Brazil SEC) website, the Hashdex NASDAQ XRP Index Fund was established on December 10 last year and is in the preoperative stage. The administrator is the brokerage company Genial Investimentos and still does not have any documents attached,” the report said.

Unfortunately, since these related documents cannot be made online, it is difficult to make too many concluding statements about Brazil’s XRP ETF. Hashdex claimed in a statement to local media that it could not disclose an official release date, but would release more information about the start of the deal.

This is not the first time Brazil has won a global ETF competition. Last August, the country Approved the world’s first Solana ETFthis is a milestone that most jurisdictions have not yet crossed.

Hashdex, at the forefront, also has useful experience: Last December, it won SEC approves Bitcoin and Ethereum ETFs. This was especially impressive, as Gensler was in the chair at the time.

Despite significant achievements, XRP is not good enough. But, to be fair, there is a precedent. Brazil approved Solana ETF, Institutional investors still lose interest in SOL Not long after.

The power of XRP ETF in the United States Not many needlesso it is not surprising that the same rules apply abroad.

However, the XRP community has several positive prospects. The committee may give up Corrugated litigation soon. Most importantly, the industry as a whole will have the potential to gain regulatory clarity on securities and commodity debates.

This regulatory clarity is crucial to XRP ETFs and their institutional needs. Meanwhile, Hashdex’s approval in Brazil may continue to pressure the SEC to approve the US version.