Brazil approves the first spot XRP ETF in Latin America
February 21, 2025
Brazil continues to strengthen its position in the cryptocurrency market, becoming the first country in Latin America to approve a spot exchange-traded fund (ETF) for the cryptocurrency XRP. This event highlights the growing interest of institutional investors in digital assets and reinforces Brazil's strategic role in the cryptoworld.
Increase in corporate investments
From late 2023 to early 2024, the volume of transactions over $1 million in the country grew by 48.4%, confirming the rise in institutional investments in cryptocurrencies.
A significant step was the approval of the XRP ETF by Brazil's CVM commission in December 2024. The fund, managed by Hashdex, will be available on the B3 exchange, and its administration will be handled by Genial Investimentos. The launch of the ETF is expected to attract significant investor interest.
XRP ETF in the context of global trends
The approval of the asset in Brazil coincided with the increase in applications for spot XRP ETFs in the United States, where the SEC is reviewing proposals from 21Shares, Bitwise, and Grayscale. It is expected that in 2025, the SEC may approve the XRP ETF with an 80% probability (according to Polymarket). The SEC is also reviewing ETF applications involving Solana and Litecoin, reflecting the growing interest in altcoins and the expansion of cryptocurrency products on stock markets.