Hashdex, the world’s leading crypto fund manager, has been approved by Brazil’s Securities and Exchange Commission (CVM) to launch the country’s first ever live XRP Exchange-Tradeed Fund. However, the official release date has not been confirmed yet, but the fact that the approval was first given represents Brazil’s ongoing support for embracing cryptocurrencies.
Global impact
The implications of such approval outside of Brazil are many speculated that other countries with clear support for cryptocurrencies will soon follow. For example, under President Donald Trump, the United States will be the next country to accept the XRP ETF. This comes from the country’s clear pro-Claytop stance, and its commitment to all forms of digital assets, from stablecoins to meme coins This cryptocurrency guide. Meme coins offer the potential to be able to pay off quickly and enormously, which partly explains why Trump is so keen to embrace them.
Therefore, a large number of fund managers in the United States have called on the SEC to list and provide the country’s spot XRP ETF.
Silvio Pedago talks about approval
Silvio Pedago’s Managing Director expressed his passion for approval. He told Portal Do Bitcoin that the approval “proves Brazil’s visionary approach to the cryptocurrency market” and expressed excitement about the future financial progress the country is sure to see. These advances will certainly involve clearer legislation on the use of cryptocurrencies in the country and moving towards crypto innovation.
Reasons for XRP growth
XRP itself is Corrugated Laboratory. Its main function is to allow fast and low-cost border transactions, and as a result, it has been adopted by countless large institutions such as banking and payment services.
The rise in popularity of XRP is largely due to Global acceptance and adoption of corrugated laboratories itself. Specifically, the company has attracted the attention of multiple institutions in the role of making real-time cross-border transactions seamless, and these institutions are increasingly interested in the development of XRP as a cryptocurrency.
Global regulations
The adoption of the first sport of Brazil, the XRP ETF, highlights the global shift towards the acceptance and integration of digital assets in general. Such a move will certainly affect the formulation of clear cryptocurrency regulations around the world, especially since XRPS is positioned as the third largest cryptocurrency in the world by market gap.
in conclusion
In short, Hashdex contributes to the overall embrace of the country by obtaining approval to launch Brazil’s first position XRP ETF Cryptocurrency. Such a stance will certainly affect other countries around the world that are willing to support the innovation that digital assets can bring, especially in the United States. Following Brazil’s leadership, the United States has filed a motion to accept the XRP ETF with many fund managers who have appealed to the SEC. As XRP continues to be welcomed globally, this particular development shows a significant shift in the world towards clearer cryptocurrency regulations and greater institutional adoption.
