USDXRP Sees Spot ETF Progress in Brazil and the United States
One of the most important developments in the crypto space over the last year has been the approval of spot ETFs. For years, spot ETFs were a heavily pursued achievement for the crypto industry and despite many of the biggest companies in the world applying for them, they were repeatedly denied.
With the approval of spot ETFs for Bitcoin and Ether in 2024, the stage was set for even more tokens to be approved. While there has been much speculation about which token is next, XRP has made significant strides.
XRP Getting an ETF?
These developments come at a very advantageous time for XRP. The crypto industry is seeing more attention than ever before, as well as the launch of new tokens. The meme coin sector has been especially productive, with new tokens entering the market every other week and seeing great success, as seen here. Investors are especially hungry for these offerings and are happily putting money into any meme coin they think is promising. With that in mind, XRP can further solidify its status and the last few weeks have been encouraging.
In the last few weeks alone, XRP has scored two significant coups on its road to a spot ETF. First, the Securities and Exchange Commission in the United States has formally acknowledged the application for an XRP spot ETF. This essentially signals the beginning of the review process and means that the token is in the running for the ETF. The mandatory view process is 21 days, during which time the sec has to approve, deny, or initiate further review of the applications.
Some of the companies that have put forward XRP ETF applications include Grayscale, Canary Capital, WisdomTree, Bitwise, CoinShares, and 21Shares. With these developments, XRP joins the likes of Dogecoin and Solana which are rumoured to be getting their own ETFs as well. While it was a coveted but elusive achievement in the past, spot ETFs for crypto have become somewhat of a status symbol.
Outside of the prestige offered, an ETF also comes with lots of financial benefits. After all, Bitcoin reached a new all-time high of over $100,000 not too long after getting its own ETF. For XRP especially, this represents a major coup considering its history with the SEC. Ripple Labs, the parent company of XRP, was famously taken to court by the SEC under accusations of selling an unregistered security. Years of back and forth in the court saw the relationship between the two strained but things seem to be looking up.
Notably, current US President Donald Trump criticized the former SEC chair Gary Gensler, who was considered to be hostile towards the industry. The current chairman is known to be much more welcoming towards the industry and for many XRP investors, this means that the chances of a spot ETF being approved are much higher.
XRP’s Developments in Brazil
While there has been much to celebrate for XRP in the United States, Brazil has also come forward with some developments of its own. Notably, XRP has been approved for a spot ETF within the country, making it one of the first ever. Brazil’s Securities and Exchange Commission (CVM) has not only granted greater access to the asset for investors in the country but has also set standards for others.
Now that an XRP ETF has become a reality in Brazil, investors In the United States will put even more pressure on various firms to follow this lead. All these will mean increased investment in XRP as an asset and more profit for Ripple Labs.
What All These Mean
These developments have significant implications for not just the XRP ecosystem but crypto as a whole. First, it means that 2025 is also going to be a year of spot ETFs becoming a reality. Just as many experts predicted, the initial approval of ETFs for both Bitcoin and Ether has led to other tokens getting the same opportunity. For Ripple Labs, this could further signal an end of its legal rules with the SEC and it's moving toward a better future. For investors, there are greater opportunities to invest in the asset class, both in the United States and Brazil.
For the wider crypto ecosystem, this development means that there is greater institutional acceptance of crypto as an asset class. This is not being limited to only one continent as the world at large seems to be giving crypto a fair chance. If XRP and other tokens of this caliber continue on this trajectory, even smaller tokens can get the ETF treatment. This will mean not just record profits for the industry but a level of institutional and political support that has been pursued for years at this point.
