XRP Surges 7% As Brazil Will Launch World’s First Spot ETF
A wave of spot exchange-traded funds (ETF) is expected to hit the market soon. While Bitcoin (BTC) is already making headlines, altcoins are set to follow suit. While financial regulators of the United States are still looking into the industry, countries like Brazil are seen making strides. Earlier today, reports revealed that Brazil is all set to introduce what may be the first spot XRP ETF globally following the approval of Hashdex’s XRP fund by the nation’s regulator. Also Read: US Dollar Tariff Impact: Trump’s Tariff Threats Spark Major Forex Volatility XRP ETF In The Making Source: Wikipedia Portal do Bitcoin reports that this new approval is a significant development for the nation’s financial industry as well as for Hashdex. Established on February 18, 2025, the ETF, officially known as the Hashdex Nasdaq XRP Index Fund, is still in its pre-operational stage. The fund’s administrator is a Brazilian brokerage company called Genial Investimentos. According ...