Brazil Pioneers Spot XRP Investment Fund on B3 Exchange
Brazil has made a groundbreaking move in the cryptocurrency space with the launch of the first spot XRP investment fund on the B3 exchange. Managed by Hashdex, the fund tracks the Nasdaq XRP Reference Price Index and debuted with net assets worth around $40 million. This development marks a significant milestone in the adoption and institutionalization of XRP as a viable digital asset for investment.
Brazil Launches First Spot XRP Investment Fund on B3 Exchange
Brazil has taken a pioneering step in cryptocurrency asset management with the launch of the first spot XRP investment fund on the B3 exchange. Managed by Hashdex, the fund tracks the Nasdaq XRP Reference Price Index and debuted with net assets valued at approximately $40 million.
The Hashdex Nasdaq XRP Fundo de Índice (XRPH11) mandates at least 95% investment in XRP and similar products, with an annual management fee capped at 0.7%. Approved by the Brazilian Securities and Exchange Commission two months prior, this fund marks a significant milestone in institutional crypto adoption.
This development positions Brazil at the forefront of regulated crypto investment vehicles, potentially setting a precedent for other jurisdictions. market observers are watching closely as global regulators grapple with approving similar products.
Ripple News: SEC’s Paul Atkins Could Still Object ProShares’ XRP ETF Filing
Confusion spread this week as rumors suggested ProShares would launch an XRP ETF on April 30, with some falsely claiming SEC approval. ProShares clarified no such launch is scheduled, attributing the misunderstanding to a misinterpretation of regulatory filings.
The "effective date" in SEC filings marks regulatory clearance, not a guaranteed launch. Market participants should note that ETF approvals remain subject to further scrutiny, including potential objections from SEC officials like Paul Atkins.
SEC Delays XRP ETF Approval, Amplifying Investor Uncertainty
The U.S. Securities and Exchange Commission has postponed its decision on XRP-based exchange-traded funds, extending regulatory ambiguity for digital assets. This delay underscores the agency’s measured approach to cryptocurrency oversight, with a final ruling now expected by June.
Market analysts observe that while ETF approvals could theoretically boost crypto visibility, they may not necessarily translate to heightened investor demand. The divergence in institutional interest between marquee assets like Bitcoin and Ethereum versus alternative coins remains pronounced, potentially limiting capital flows into the XRP ecosystem.
XRP Defies SEC’s ETF Delay with Resilient Price Action and Payment Innovation
XRP demonstrates unexpected resilience as the SEC postpones its decision on a spot ETF application, maintaining key support levels despite regulatory uncertainty. The cryptocurrency held above $2.00 after a brief dip to $2.30, confirming this threshold as both technical and psychological support.
Ripple’s CEO has simultaneously unveiled a novel payment system architecture that could expand XRP’s utility beyond speculative trading. This dual narrative of regulatory challenges and fundamental progress reflects the cryptocurrency sector’s capacity to advance despite institutional hesitancy.
