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The Brazilian Securities and Exchange Commission (CVM) has approved the first exchange-traded fund (ETF) that includes XRP. Managed by Hashdex, this fund will be listed on the country’s main stock exchange platform, B3. Although the official start date for trading has not been finalized, this development showcases Brazil’s innovative approach to the cryptocurrency market. Regulatory frameworks for cryptocurrency investments in Brazil are observed to be more flexible, in contrast to similar applications still under review in the United States.
Reasons for Choosing the XRP ETF
The establishment date for the XRP-based ETF has been set for December 10, 2024. The real-world utility of XRP and the increasing institutional demand played significant roles in the creation of this fund, managed by Genial Investimentos. With the XRP ETF, Hashdex aims to provide investors with a new alternative and enhance diversity within the cryptocurrency market.
XRP stands out as a preferred asset for payment solutions among banks and financial institutions. It garners significant interest due to its speed and low transaction fees, especially in international remittance systems. These factors are among the primary elements supporting XRP’s inclusion in an investment fund. The approval of this fund indicates the ongoing innovative steps within the cryptocurrency market.
Hashdex Expands Its Portfolio
Previously, Hashdex provided a diverse portfolio by offering Bitcoin 
$107,081, Ethereum 
$2,449, and Solana 
$142-based ETFs. Now, with the XRP ETF, the company aims to further enhance this diversity. By evaluating the growing interest from institutional investors in Brazil, Hashdex targets contributing to market expansion.
Brazil is distinguished by its flexibility in cryptocurrency regulations. The approval of the XRP ETF by the CVM highlights the country’s investment-friendly environment. Silvio Pegado, General Manager of Ripple 
$2 Latin America, notes that Brazil’s regulatory approach facilitates the formation of such funds.
While similar applications are still being evaluated in the United States, Brazil’s swift actions stand out. Regulatory differences between countries may direct investors toward alternative markets. Innovative investment tools like the XRP ETF are expected to attract more interest in the upcoming period.
