Brazil has approved the world's first spot XRP exchange-traded fund (ETF), named the HASHDEX NASDAQ XRP FUNDO DE ÍNDICE. The country’s securities regulator, Comissão de Valores Mobiliários (CVM), has given the green light, and the fund is currently in a pre-operational phase after being set up on December 10, 2024. Managed by Hashdex and administered by Genial Investimentos, the ETF will soon begin trading on Brazil’s B3 exchange, though an official launch date has not yet been announced.
A spot XRP ETF allows investors to gain exposure to XRP without directly purchasing or holding
cryptocurrency, offering a regulated and more accessible investment option. Meanwhile, in the U.S., asset managers like CoinShares, Bitwise, 21Shares, and Grayscale have applied for similar funds, awaiting approval from the Securities and Exchange Commission (SEC). Experts suggest that a U.S.-based spot XRP ETF could bring billions in investments to the crypto space, overshadowing Brazil’s launch in terms of market impact.
Futures Market Updates
In the past 24 hours, both BTC and ETH futures saw an increase in open interest, with ETH (+0.83%) rising more than BTC (+0.21%). However, trading volumes for both dropped significantly, with ETH futures (-27.57%) declining more sharply than BTC futures (-16.58%), suggesting a slowdown in market activity. Liquidations were higher for both assets on the short side, with ETH experiencing slightly larger total liquidations ($23.94M) compared to BTC ($22.51M), implying more aggressive short squeezes in ETH. The long/short ratios for both were nearly balanced, with BTC (50.52% long) showing a slightly stronger bullish bias than ETH (50.30% long). Lastly, ETH maintained a slightly higher funding rate (0.0034%) than BTC (0.0029%).
BTC Futures Updates
Total BTC Open Interest: $62.21B (+0.21%)
BTC Volume (24H): $65.09B (-16.58%)
BTC Liquidations (24H): $8.26M (Long)/$14.25M (Short)
Long/Short Ratio: 50.52%/49.48%
Funding Rate: 0.0029%
ETH Futures Updates
Total ETH Open Interest: $24.50B (+0.83%)
ETH Volume (24H): $26.01B (-27.57%)
ETH Liquidations (24H): $8.78M (Long)/$15.16M (Short)
Long/Short Ratio: 50.30%/49.70%
Funding Rate: 0.0034%
Top 3 OI Surges
SUNDOG: $30.87M (+414.48%)
RDNT: $23.70M (+356.25%)
AMB: $11.04M (+178.71%)
