Well, well, well! It seems that Hashdex has finally received the regulatory thumbs-up to launch what could be the world’s first XRP spot exchange-traded fund. Who knew that Brazil would be the one to pop the crypto cherry? 🍾
According to the ever-reliable crypto gossip mill, Portal do Bitcoin, Brazil’s Securities and Exchange Commission has given the green light for the HASHDEX NASDAQ XRP INDEX FUND to strut its stuff on the B3 stock exchange. Yes, you heard it right! The CVM has approved the XRP (XRP) spot ETF. But hold your horses, folks—the exact date for this grand debut is still a mystery. 🕵️♀️
Currently, the ETF is in what they call the “pre-operational phase.” Sounds fancy, doesn’t it? With Genial Investmentos playing the role of the fund’s administrator, we can only hope they know what they’re doing. 🤞
Hashdex, the overachiever that it is, had its crypto index ETF given a nod by the U.S. Securities and Exchange Commission back on December 19, 2024. They applied for the XRP spot ETF in Brazil just a few days later on December 10. Talk about being eager! 📅
Meanwhile, in the U.S., multiple issuers are still waiting for their golden ticket from the SEC. Grayscale, WisdomTree, Rex-Osprey, Canary Capital, and 21Shares are all in the queue, hoping for a nod. The SEC has even acknowledged the Cboe filing for the Bitwise XRP ETF. It’s like a waiting room for crypto dreams! ⏳
While these proposals are twiddling their thumbs, Hashdex’s XRP ETF could be making its grand entrance on the B3 stock exchange sooner than you think. According to Silvio Pegado, Ripple’s managing director of Latin America, it’s about time the first spot XRP ETF hit the market. He’s pointing fingers at the cryptocurrency’s real-world utility and the rising demand from institutional investors. Sounds like a recipe for success! 📈
As for XRP’s price, it was hovering around $2.65 at the time of writing, which is a 5% increase in the past 24 hours. The market is reacting, darling! The altcoin was the top gainer among the 10 largest cryptocurrencies by market cap, with weekly gains of 10%. Who knew crypto could be so dramatic? 💃
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2025-02-19 20:19