Brazil has launched its first Spot XRP ETF. Will the United States feel pressured to approve it because of this?

Recently, Brazil launched the world's first XRP Spot ETF, which is an important milestone for the cryptocurrency market and has put some pressure on the United States.

On April 25, asset management company Hashdex listed the XRP Spot ETF on Brazil's B3 stock exchange, with the ticker symbol XRPH11. This ETF will track the price of XRP based on the Nasdaq XRP Reference Price Index.

The Brazilian Securities and Exchange Commission (CVM) approved this ETF as early as February, and it was officially launched this week. This fund invests at least 95% of its assets in XRP, including futures contracts and other securities.

Although Hashdex is promoted under the name "Hashdex Nasdaq XRP Fund de Indices", it is actually managed by Genial Investimentos, with Genial Bank SA serving as the custodian.
The annual fee for the new XRP ETF is 0.8%, which includes a 0.7% management fee and a 0.1% custody fee. This is the 9th cryptocurrency ETF listed by Hashdex on the B3 exchange, having previously launched products tracking Bitcoin, Ethereum, and Solana. This indicates that Brazil is becoming increasingly open to cryptocurrency investments.
However, the US has not yet launched a XRP Spot ETF, even though XRP was created by the American company Ripple, has a market capitalization of over $120 billion, and is the third largest cryptocurrency after stablecoins. Additionally, Ripple's recent lenient attitude towards resolving regulatory issues with the US SEC, along with the Trump administration's goal of making the US the "world cryptocurrency capital," seems to have made the regulatory environment for cryptocurrencies in the US more positive.
Currently, several large asset management companies, including Grayscale and Franklin Templeton, have submitted applications to issue XRP Spot ETFs in the United States. Analysts believe that the probability of XRP ETF being approved in the U.S. is 73%.
At the same time, the U.S. did indeed launch a leveraged XRP ETF last week, but the spot ETF has not yet been approved. For U.S. investors looking to invest in XRP but not wanting to hold it directly, U.S. regulators may face greater decision-making pressure when accepting such investment products.
Finally, do you think the United States will approve the launch of a domestic XRP Spot ETF for trading after Brazil?
#XRPETF # Brazil #cryptocurrency