Brazil Approves First Spot XRP ETF by Hashdex
- The Brazilian Securities and Exchange Commission (CVM) approved the first spot XRP ETF in Brazil.
- Hashdex, an asset manager, submitted the successful ETF application.
- The official launch date for the XRP fund has not yet been announced.
- Brazil’s cryptocurrency market transactions totaled nearly $90.3 billion from July 2023 to June 2024.
- XRP is currently the third-largest cryptocurrency with a market capitalization of $152.96 billion.
The approval of Hashdex’s spot XRP ETF by Brazil’s CVM marks a significant milestone, highlighting Brazil’s proactive stance in embracing cryptocurrency, as evidenced by its substantial market transaction volume.
Source (2.6)https://coingape.com/hashdex-secures-approval-to-launch-first-xrp-etf-in-brazil/?rand=24432
