The Brazil Securities and Exchange Commission has approved the Hashdex NASDAQ XRP Index Fund, marking a pivotal moment for cryptocurrency regulation. The fund is set to launch soon in Brazil’s stock market, further emphasizing the country’s openness to innovations within the crypto sector.

XRP, with a market cap of 152 billion USD, is the world’s third-largest digital currency, showcasing significant institutional interest. This approval indicates a strong potential for growth in crypto ETFs in Brazil amid shifting regulations in the US.