Ripple XRP News – Brazil Approves First Spot XRP ETF, Trump Shares Ripple Post
The post Ripple XRP News – Brazil Approves First Spot XRP ETF, Trump Shares Ripple Post appeared on BitcoinEthereumNews.com.
Brazil is the first country to approve a spot XRP exchange-traded fund (ETF). The Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator, has greenlit the HASHDEX NASDAQ XRP FUNDO DE ÍNDICE, setting a global precedent for XRP investment vehicles. Trump has shared a Ripple story on social media. A Landmark Approval The newly approved ETF, currently in its pre-operational phase, was established on December 10, 2024, according to CVM records. It is administered by Genial Investimentos, a well-known Brazilian investment brokerage firm, while Hashdex, a leading asset manager in the digital asset space, is responsible for managing the fund. While an official trading launch date on Brazil’s B3 exchange has yet to be announced, Hashdex has confirmed to Portal do Bitcoin, a local news outlet, that the regulatory approval is in place. The firm plans to release additional details soon regarding the ETF’s trading schedule and operational framework. Meanwhile, President Trump posted a news story about Ripple’s status as a U.S. crypto company. This is expected to favor Ripple’s relationship with regulators, and ultimately, that’s good news for XRP investors. Adjust your XRP price predictions higher if Trump gets involved, as he is teasing here. President Trump posted a news story about Ripple on Truth Social, via X The Ripple XRP price jumped 6.92% overnight on the news, a clear example of the Donald Trump effect, also known as the Trump Pump. The Ripple XRP price jumped 6.92, Source: BNC XRPLX The U.S. Contrast: SEC Still Holding Back While Brazil moves ahead, the U.S. remains in limbo. The Securities and Exchange Commission (SEC) has received multiple applications for a spot XRP ETF from major asset managers such as CoinShares, Bitwise, WisdomTree, 21Shares, and Bitwise, but no approvals have been granted yet. The SEC’s reluctance to approve such funds is largely…
Filed under: News - @ February 19, 2025 6:14 pm