Feb 21, 2025
Hashdex set to launch world's first XRP ETF
The first XRP ETF will almost certainly be Brazilian.
Hashdex - the Brazil-headquartered group with a uniquely global, institutional, and yet crypto-native footprint - has received approval from Comissão de Valores Mobiliários (CVM) to list the Hashdex Nasdaq XRP Index Fund, the first vehicle of its kind to be green lit by a national securities regulator.
The fund, which appears to have been incorporated late last year, according to a filing on the CVM website, is now in the typical 'pre-operational' period before it becomes available for trade, though the date when that will happen isn't clear yet.
The news is intriguing more broadly, with digital asset participants in the U.S. waiting on the edge of their seats to see whether, or when, an XRP ETF might be approved there.
There's little read-across on a regulatory basis though. And in any case, the SEC is already showing signs of moving to a more welcome vector regarding XRP ETFs.
Still, the Brazilian XRP ETF's benchmark arrangements are just as interesting - and the clue is of course in the name.
The Nasdaq XRP Settlement Price Index is administered by Nasdaq as part of its Nasdaq Crypto Index Family (NCI) series, for which CF Benchmarks is the calculation agent.
It's a longstanding partnership rooted in the world's first ever spot-based crypto ETPs, which were listed in Latin America, by Hashdex.
Hashdex Nasdaq Crypto Index ETF went to market in Bermuda first, then Sao Paulo, in 2021.
Since then, several further funds have emerged from the Nasdaq-Hashdex-CFB model.
Given that the NCI Family methodology mirrors the exacting, rules-based, standards of replicability, representativeness and manipulation resistance of indices administered by CF Benchmarks, it goes without saying Hashdex Nasdaq XRP Index Fund investors are assured reference pricing of optimal reliability and integrity.
Read more about the Nasdaq XRP Settlement Price Index
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.
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