Brazil Approves First Spot XRP ETF as Market Sees Major Growth

•  Brazil approves its first spot XRP ETF, signaling strong crypto adoption and boosting XRP prices by 8% in 24 hours.
•  Braza Group launches BBRL, a real-pegged stablecoin on XRPL, aiming to capture 30% of Brazil’s stablecoin market by 2026.
•  Brazil’s crypto market sees major growth, with upcoming regulations set to enhance security and attract more institutional investors.

Brazil approved its initial spot XRP exchange-traded fund (ETF). The country’s market regulator, the Comissão de Valores Mobiliários (CVM), greenlighted the Hashdex Nasdaq XRP Index Fund on February 19. This comes after XRP prices surged 8% in the past 24 hours, reflecting high market confidence. Though the official trading date on Brazil’s B3 exchange is not public, fund manager Hashdex will share more information soon.

XRP ETF Approval Fuels Market Optimism

Approval of the initial spot XRP ETF by Brazil is a landmark for crypto adoption throughout Latin America. Hashdex, a well-established crypto asset manager, has numerous ETFs to choose from, including Bitcoin, Ethereum, and Solana. The addition will complement its existing lineup, making investors more exposed to XRP.

Meanwhile, Multiple applications for a spot XRP ETF have been acknowledged by the Securities and Exchange Commission (SEC) within the United States. Applications were submitted for the CoinShares, Canary Capital, and WisdomTree products through the Nasdaq and Cboe BZX exchanges. This recognition has further driven investor interest, pushing XRP prices up by 7.8% to $2.72. Notably, the digital asset is now just 20% away from its all-time high.

Braza Group Launches Real-Pegged Stablecoin on XRPL

Besides the ETF approval, Brazil’s Braza Group a key player in the country’s interbank market, has announced the launch of BBRL, a stablecoin pegged to the Brazilian real. Built on the XRP Ledger, BBRL aims to set high compliance and security standards.

Braza Bank will back the stablecoin, initially offering it to institutional clients. The project is set to expand to business-to-consumer transactions by the end of 2025. CEO Marcelo Sacomori is confident in its growth, estimating that BBRL will capture 30% of Brazil’s stablecoin market next year.

Crypto Regulation and the Future of Digital Finance

Brazil’s central bank acknowledged the increasing adoption of crypto assets, with stablecoins accounting for 90% of the country’s digital transactions. Braza Group is also involved in DREX, an initiative exploring asset tokenization, cross-border payments, and a possible central bank digital currency (CBDC).

The country is expected to implement stronger regulations for digital assets in 2025. As a result, the market will become safer, attracting more institutional and retail investors. With stablecoins playing a growing role in global finance, BBRL’s launch highlights Brazil’s commitment to financial innovation.