The Brazilian securities and stock market commission (CVM) approved the world’s first spot XRP stock market investment fund (ETF). Hashdex NASDAQ XRP Fund is currently in the pre -operation stage and the official launch date will be announced soon. This approval from Brazil’s securities regulator will present a simple and regulated way of investing in the XRP to investors around the world. Investors will now be able to invest in this crypto asset without having to deal with direct foreign exchange exchange.
Approval to the world’s first spot xrp fund
Hashdex Nasdaq XRP Fund is managed by Genial Investimentos, a Brazilian investment company, in cooperation with hashdex. This ETF will soon be traded on the B3 stock market of Brazil and will be opened to both local and international investors. Although an official start date has not yet been announced, more information will be shared soon. This ETF approval increases the visibility of XRP and further strengthens its position as crypto assets. More capital flow is expected to XRP. In addition, this development takes place at a time when the US market struggles with regulatory uncertainties related to XRP.
Silvio Pegado, General Manager of Ripple Latin America, said, “The CVM’s first XRP ETF shows its visionary approach to Brazil’s crypto markets and financial innovations. Through regulation and public consultations, Brazil continues to position itself as a country open to innovation and we expect to be at the center of more pioneering development in the crypto sector in the future. ” he said.
There is a rise in the price
On the US side, Kriptokoin.comAs we have reported as, the securities and the stock exchange commission (SEC), Wisdomtree and Grayscale continues to examine the ETF offers related to XRP. This indicates that the SPOT XRP ETF can be approved in the USA.
ETF approvals for crypto assets have previously been seen in the Bitcoin example that it could have significant effects on the price. In the last 24 hours, the XRP price has increased by more than 6 %and is currently aiming to break the $ 3 level. In addition, former US President Donald Trump’s support for Ripple on the Truth Social platform contributed to the rise in the price of Coin. The flow of corporate and retail capital can further increase the price of coins and increase the ratio of adopting it as a main current asset.
