Brazil is set to launch the world's first XRP ETF, with Hashdex securing approval to introduce the product in the country. Specific details, such as the exact release date, remain undisclosed for now, but Hashdex has assured that more information will be forthcoming shortly.

Despite this groundbreaking development, there has been minimal impact on XRP's price movement. The asset has been facing challenges despite the supportive stance from the SEC and the imminent approval of a US ETF.

The race to launch an XRP ETF is gaining traction globally, with high expectations for similar products in the United States. While the SEC is reviewing multiple applications, Brazil has stolen the spotlight by paving the way for the inaugural XRP ETF through Hashdex.

The HASHDEX NASDAQ XRP INDEX FUND, established in December, is currently in the pre-operational phase under the administration of Genial Investimentos. Further details are awaited, as official documents have yet to be released online.

Hashdex's track record includes securing SEC approval for a groundbreaking Bitcoin and Ethereum ETF last year. Despite these advancements, XRP's price has not experienced a significant boost. This lackluster response aligns with previous patterns observed when Brazil introduced the first Solana ETF.

While the anticipation for an XRP ETF in the US remains steady, the impact on market trends has been moderate. Regardless, the community is hopeful for positive developments as regulatory uncertainties are expected to diminish. The forthcoming clarity on securities and commodities regulations could bolster institutional demand for an XRP ETF.

Hashdex's successful venture in Brazil is anticipated to influence the SEC's decision-making process regarding a US XRP ETF. The industry awaits further updates on this exciting development.

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