XRP has recorded a significant milestone achievement following the launch of an exchange-traded fund (ETF) in Brazil . Renowned asset manager Hashdex launched the first spot XRP ETF on B3, the country’s largest stock exchange, which doubles as the biggest in Latin America. Hashdex Debuts First Spot XRP ETF in Brazil According to the report , the spot XRP ETF, which has the ticker XRPH11, mirrors the Nasdaq XRP Reference Price Index. The fund will provide investors not interested in owning XRP directly with exposure to the coin. Genial Investimentos will oversee the management of the Hashdex fund. Meanwhile, XRPH11 will see at least 95% of its assets committed to XRP investment. XRP, with a market capitalization of $128.1 billion, is the fourth-ranked crypto asset. The asset manager has decided to adopt both direct and indirect purchases of the crypto asset. This method will allow institutional and retail investors to gain exposure to XRP without holding the coin themselves. Growing Optimism for a U.S. XRP ETF Approval At the start of 2025, users on Polymarket , a popular prediction platform, had placed the odds of XRP approval in the U.S at 70%. The initial poll anticipated an approval before July 31, 2025. Interestingly, despite Ripple’s headquarters in the United States, XRP has not gained regulatory approval. However, several applications have been filed with the Securities and Exchange Commission (SEC) and await review. According to a recent analysis, despite the regulatory delays in the U.S., XRP still stands a good chance of becoming the next crypto asset for an ETF . XRP’s strong market liquidity and high trading volume give it an edge over other applicants. Additionally, the asset has the most ETF filings from different asset managers. This signals the level of interest XRP has generated in the crypto space. Some notable names in the XRP ETF race in the U.S. include Bitwise , Canary Capital, and 21Shares. Nine companies have indicated interest. XRP Market Reaction and Future Outlook According to CoinMarketCap , as of this writing, XRP has risen slightly by 0.09% to $2.19 in the last 24 hours. The news of the XRP ETF launch is yet to significantly impact the market, as trading volume has declined by 16.84% to $3.01 billion. Notably, many believe that an approval in the U.S. would have a stronger impact on XRP’s price outlook. Market watchers are, however, looking for a shift in the coming days. The post Brazil Launches First XRP ETF, Will the U.S. Follow? appeared first on TheCoinrise.com .
