Brazil Leads the Way with World’s First XRP ETF Approval

Brazil has become the first country to approve an XRP-based spot ETF, marking a major step forward in global cryptocurrency adoption. The Brazilian Securities and Exchange Commission (CVM) has officially approved Hashdex’s Nasdaq XRP Index Fund, which is expected to be listed on Brazil’s B3 stock exchange soon.

The Evolution of the Crypto Market in Brazil

Brazil is currently the second-largest crypto market in Latin America, with inflows reaching $90.3 billion from July 2023 to June 2024. Institutional transactions increased by 48.4% in early 2024, with stablecoins accounting for 59.8% of total transactions. The approval of an XRP ETF not only strengthens Brazil’s position in the crypto space, but also opens the door for investors to access XRP legally and safely.

Progress on Litecoin ETFs in the United States

Meanwhile, in the United States, Canary Capital’s Litecoin Spot ETF has taken a major step toward approval. The company filed an S-1 application in October 2024, and Nasdaq filed a 19B-4 application on January 16, 2025, initiating the regulatory review process. While listing on the Depository Trust and Clearing Corporation (DTCC) system does not guarantee SEC approval, it is an important step that signals that the fund is being prepared for potential trading.

The Importance of Cryptocurrency ETFs

The approval and progress of ETFs based on cryptocurrencies such as XRP and Litecoin mark the growing acceptance of digital assets in the traditional financial system. These moves not only provide investors with a safe and regulated investment vehicle but also promote the growth and stability of the global cryptocurrency market.