The Brazilian securities and the stock market commission (CVM) approved the country’s first XRP Spot Stock Exchange Investment Fund (ETF) on 18 February and made it a global first. Introduced by the Asset Management Company Hashdex, ETF will allow investors to invest in the Ripple blocking XRP, the local tokend of the Ripple block via the Brazilian stock exchange B3. Brazil’s B3 stock market has not yet been announced. However, the Hashdex representative said, “Detailed information about the listing date will be announced soon,” he said.
The first XRP ETF approved by Brazilian SEC
The official name hashdex NASDAQ XRP index fund was founded on February 18, 2025 and is currently under its preliminary operational stage. The Brazilian institution Genial Investimentos was appointed as the manager of the fund. The additional details of the structure and process mechanics of the fund have not yet been explained; Hashdex confirmed the approval, but it did not give a certain launch date. The company said that more detailed information about ETF starting to be traded for the first time in B3 will be shared later.
Sector experts see this movement as a big step taken towards adopting a wider crypto. In particular, the XRP is globally third largest crypto currency with a market value of $ 151 billion, and only behind Bitcoin and Ethereum.
What will be the effects on the crypto industry?
Following the announcement, the price of XRP increased over 5 percent in the last 24 hours and Wednesday was traded on February 19 at about $ 2.65.
Ripple Latin American General Manager Silvio Pegado emphasized the importance of this approval, XRP’s real -world practices, increasing institutional demand and powerful market presence, the main factors that support the suitability for ETF, he said. Pegado, “XRP, benefit, increased corporate demand and market value is suitable for ETFs,” evaluating, “Brazilian Menkul Assets Commission’s first XRP ETF, shows the predictions of the development of digital assets,” he said.
Meanwhile, President Donald Trump published a news story about Ripple’s status as a US crypto company. This is expected to support Ripple’s relationship with the organizers, and as a result, this is good news for XRP investors. Ripple XRP price, after the news during the night 6.92 percent jumped. This is a clear example of the Trump effect, also known as Trump Pump. Here you can find the Ripple news that Trump shares through Truth Social here.
