XRP News: Brazil Approves World’s First Spot XRP ETF, Leaving U.S. Behind

Brazil has just made history, becoming the first country to approve a spot XRP exchange-traded fund (ETF) – beating the U.S. and other major markets to the finish line. The country’s Securities and Exchange Commission (CVM) has given Hashdex the green light for its XRP ETF, marking a huge milestone for crypto adoption. With this approval, investors in Brazil will soon have a regulated way to gain direct exposure to XRP.

Could Brazil’s bold move push other regulators, especially in the U.S., to act faster? Let’s dive into the details.

XRP ETF Finally Gets Approval

Brazil’s CVM has officially approved the Hashdex Nasdaq XRP Index Fund, making it the first spot XRP ETF with regulatory backing. This decision positions Brazil as a leader in crypto investment at a time when other markets are still hesitant.

However, the fund—established on December 10, 2024—is still in its pre-operational phase. It is awaiting final clearance from the B3 stock exchange before trading begins. Hashdex has yet to announce an official listing date.

Brazil Gains an Edge as Demand for Crypto ETFs Grows

This approval is a big milestone, as global interest in crypto ETFs continues to rise. Investors are looking for secure and regulated ways to gain exposure to digital assets, and Brazil’s quick approval gives it an advantage over countries still working through regulatory uncertainties.

Meanwhile, in the U.S., major firms such as Bitwise, 21Shares, CoinShares, and Grayscale have applied for spot XRP ETFs. However, the U.S. Securities and Exchange Commission (SEC) has yet to approve any of them.

Will the U.S. Follow? Analysts Weigh In

Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate a 65% chance of U.S. approval for a spot XRP ETF. However, they believe the SEC may delay any decision until its legal battle with Ripple is resolved.

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XRP Price Impact

After Brazil’s approval, XRP’s price jumped 7% in 24 hours, reaching around $2.67. This surge made XRP the best-performing asset among the top ten cryptocurrencies, with a 10% gain over the past week.

However, Coinglass data shows that XRP saw $8.2 million in futures liquidations during this period. Short traders were hit the hardest, losing $5.69 million, while long traders faced $2.31 million in liquidations.

Key technical indicators—including the Relative Strength Index (RSI), Stochastic Oscillator (Stoch), and Moving Average Convergence Divergence (MACD)—suggest strong buying momentum, indicating that XRP may see further gains.

USA – It’s your turn now!