Key Notes
- The United States is likely to be next in approving spot XRP ETFs following the administration change via pro-crypto President Donald Trump.
- XRP price has been signaling the onset of a parabolic rally fueled by institutional investors.
According to information from the Brazilian Securities and Exchange Commission (CVM), Hashdex, a top-tier fund manager focused on crypto asset management, has been granted permission to launch the HASHDEX NASDAQ XRP INDEX FUND. The fund manager confirmed the approval of the XRP ETF as the first in Brazil and across the world, but the official launch date is not yet set.
“Following the approval of one of the first Bitcoin ETFs in 2021, the approval of the first XRP ETF by the CVM demonstrates Brazil’s visionary approach to crypto markets and financial advancements. Through regulation and public consultations, Brazil continues to position itself as a country open to innovation, and we expect it to be central to more pioneering advancements in the crypto sector in the future,” Silvio Pegado, managing director of Ripple in Latin America, noted .
More Spot XRP ETF in the Pipeline
As Coinspeaker reported, there is a palpable anticipation surrounding the approval of spot XRP ETFs around the world, more so in the United States. With the change in the US administration through President Donald Trump, which has been described as the first pro-crypto regime, several fund managers – led by Canary Capital, Bitwise, WisdomeTree, Grayscale Investments, and 21Shares – have applied with the US SEC to list and offer spot XRP ETFs.
Already, the US SEC has acknowledged the filing for spot XRP ETFs by several fund managers, led by Bitwise.
Top Reasons Why More Institutional Investors are Betting on Ripple
The palpable success of XRP is majorly pegged to Ripple Labs and its products of enabling real-time cross-border payments. As more countries – led by Saudi Arabia , the United States, and El Salvador – explore the adoption of Bitcoin BTC $97 263 24h volatility: 1.7% Market cap: $1.93 T Vol. 24h: $20.08 B as a store of value, institutional investors have continued to turn to the altcoin industry.
With XRP $2.70 24h volatility: 5.4% Market cap: $156.19 B Vol. 24h: $4.59 B having deep liquidity as the third largest cryptocurrency by market cap, institutional investors have paid more attention. Most importantly, the Trump administration has focused on ending crypto regulation by enforcement and promised to introduce clear regulatory frameworks.
Consequently, the ongoing Ripple vs US SEC lawsuit is expected to end in the near future, which will pave the way for enhanced mainstream adoption.
Market Impact
Following the announcement, XRP price gained over 5 percent in the past 24 hours to trade at about $2.65 on Wednesday, February 19, during the mid-New York session. The large-cap altcoin, with a fully diluted valuation of about $264 billion and a 24-hour average trading volume of around $4.2 billion, has been preparing for the thrilling phase of the 2025 cryptocurrency bull cycle.
$XRP looks to be breaking out of an ascending triangle on the lower time frames, setting up a potential 4% move toward $2.68!
Trade it now on @SimpleFXcom . Claim your $5,000 bonus via my link: https://t.co/GLjkpQvNJr pic.twitter.com/0D5m5Yiuup
— Ali (@ali_charts) February 19, 2025
According to crypto analyst Ali Martinez, XRP price is well positioned for further bullish sentiment fueled by whale investors. Moreover, on-chain data shows whale investors, with an account balance of between 10 million and 100 million coins, accumulated 150 million XRP in the past 48 hours.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
