Latest news with #Hashdex
Business Insider
21-05-2025
- Business
- Business Insider
Bitcoin spikes to record high on Trump crypto-policy enthusiasm
It's the first record for the world's largest cryptocurrency since January, when the token climbed above $109,200. The latest surge is being driven by a burst of enthusiasm on recent regulatory developments. On Monday, a landmark crypto bill moved ahead in Congress, with proposed legislation aiming to regulate the stablecoin market moving forward in a bipartisan vote. After initial resistance from congressional democrats, the so-called GENIUS Act is now up for debate on the Senate floor, clearing the way toward a legislative win for the industry. But policy enthusiasm extends beyond Capitol Hill. In recent months, bitcoin has climbed on pro-crypto executive orders and the recent passage of legislature to create crypto reserves in New Hampshire and Arizona. "The acceptance and adoption of bitcoin by governments and institutions, many of which are viewing this asset class as an important portfolio diversification tool, paints a very favorable long-term investment outlook for the digital asset ecosystem," wrote Gerry O'Shea, head of global market insights at Hashdex. The coin has also benefited from a broader rally in risk assets since tariff chaos has subsided in recent weeks. With the token up almost 17% year-to-date, bulls expect it to go higher. In the second quarter, Standard Chartered suggested that the token will hit $120,000, while one options wager sees it surging as high as $300,000 by the end of June.
Arabian Post
28-04-2025
- Business
- Arabian Post
Hashdex Breaks Ground with First Spot XRP ETF on Brazil's B3 Exchange
Hashdex, the prominent crypto asset management firm based in Brazil, has launched the world's first spot XRP exchange-traded fund on B3, the São Paulo-based stock exchange. The ETF, known as the Hashdex XRP Fund , started trading this week, marking a significant milestone not only for Latin America's evolving crypto landscape but also for the global cryptocurrency investment market. Trading commenced after months of regulatory processes and product development, during which Hashdex worked closely with Brazil's Comissão de Valores Mobiliários , the national securities regulator. The fund offers direct exposure to XRP, the digital asset created by Ripple Labs, without requiring investors to manage the underlying cryptocurrency themselves. The launch of XRP11 follows a broader trend of growing institutional acceptance of crypto assets in Brazil, where regulatory frameworks have been more accommodating compared to major markets like the United States. Hashdex's move underscores Brazil's increasingly assertive position as a hub for cryptocurrency innovation. Marcelo Sampaio, CEO of Hashdex, said during the fund's launch that the introduction of a spot XRP ETF aligns with the company's mission to 'bridge the gap between traditional finance and digital assets'. Sampaio added that the demand for diversified crypto investment vehicles has been consistently growing among Brazilian investors, citing the success of earlier Hashdex crypto ETFs such as HASH11, which tracks a basket of cryptocurrencies. Brazil's regulatory environment has played a key role in facilitating this development. The CVM has exhibited a proactive stance towards regulating crypto assets while encouraging innovation. In contrast, regulatory bodies like the US Securities and Exchange Commission have taken a more cautious approach, creating delays and uncertainties around the approval of spot crypto ETFs, particularly for assets beyond Bitcoin and Ethereum. XRP, the digital token linked to Ripple Labs, has had a complex relationship with regulators globally. A significant development came after Ripple secured a partial legal victory against the SEC, wherein a US federal court ruled that XRP sales on public exchanges did not constitute investment contracts. This ruling, while still subject to ongoing litigation and appeals, provided a degree of clarity that has emboldened issuers like Hashdex to pursue XRP-focused financial products in other jurisdictions. The Hashdex XRP Fund is structured similarly to traditional ETFs. Units of XRP11 are backed 100% by physically held XRP tokens, which are stored in institutional-grade custody solutions provided by trusted crypto custodians. The fund is priced and settled in Brazilian reals, and its portfolio is independently audited to ensure transparency and security for investors. The move by Hashdex is seen by analysts as a strategic attempt to cement its leadership in the crypto asset management sector within Latin America. Hashdex has already been at the forefront of innovation, having earlier collaborated with Nasdaq to launch a Bitcoin futures ETF in the United States through a hybrid strategy. The launch of XRP11 marks the company's first foray into offering single-asset spot ETFs focused on altcoins. Investor response to the new product has been encouraging. Trading volumes for XRP11 on the first day exceeded initial expectations, indicating substantial appetite among retail and institutional investors for regulated crypto products. Paulo Mesquita, Head of Business Development at Hashdex, commented that 'the robust reception signals a maturation of crypto investing in Brazil, with investors seeking broader exposure beyond Bitcoin.' See also UAE Emerges as Global Leader in Cryptocurrency Adoption Attention now turns to the potential for similar products in the United States, where the SEC's approach to spot crypto ETFs has been cautious, despite recent approvals of Bitcoin spot ETFs involving major financial institutions like BlackRock, Fidelity, and Grayscale. Market participants are closely monitoring whether Hashdex's success in Brazil might embolden US asset managers to push harder for spot ETFs centred on altcoins such as XRP. Several experts suggest that the SEC's attitude towards XRP remains a critical obstacle. James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that 'until the regulatory status of XRP is definitively settled in the United States, it is unlikely that a spot XRP ETF will gain approval'. However, he added that legal outcomes favourable to Ripple could eventually open the door to similar products in the American market. Brazil's advancement comes at a time when global demand for cryptocurrency investment vehicles continues to evolve. Investors are increasingly seeking exposure to digital assets through traditional financial instruments, particularly those offering regulated, easy access without the complexities of direct crypto ownership. Latin America, driven by countries like Brazil, is emerging as a significant frontier for such innovations, offering lessons for larger markets grappling with regulatory hesitations. Beyond XRP, Hashdex is reportedly exploring the possibility of launching additional single-asset ETFs focused on other major cryptocurrencies such as Solana and Polygon , depending on market conditions and regulatory developments. Such diversification could position Brazil as a critical player in the next wave of crypto investment products, rivalling traditional centres like the US, Europe, and parts of Asia. Arabian Post – Crypto News Network
Yahoo
20-03-2025
- Business
- Yahoo
Hashdex Files With SEC to Add XRP, Solana and More to NCIQ
Crypto asset manager Hashdex has filed an amendment with the U.S. Securities and Exchange Commission to add seven altcoins to its Nasdaq Crypto Index US ETF (NCIQ), according to a March 14 regulatory filing. The proposal would expand the fund to include Litecoin, XRP, Cardano, Solana, Chainlink, Avalanche and Uniswap alongside the fund's current Bitcoin and Ethereum holdings. NCIQ, launched in February, currently manages about $70.4 million in assets and would shift from tracking the Nasdaq Crypto US Settlement Price Index to the broader Nasdaq Crypto Settlement Price Index, which includes more digital assets. Hashdex's move to add these seven major altcoins to its ETF represents an expansion of crypto investment products as the market evolves beyond single-asset funds. The amendment comes as the crypto ETF landscape continues to develop. Asset manager Grayscale has also applied to convert its Digital Large Cap Fund, which holds Bitcoin, Ethereum, Solana, Cardano and XRP, into an ETF. Index-based crypto ETFs aim to provide investors with simpler exposure to multiple digital assets without the complexities of direct ownership, similar to how traditional investors use S&P 500 index funds. The Brazilian version of Hashdex's fund, traded on the Bermuda Stock Exchange, already offers exposure to the broader basket of cryptocurrencies. The diversification move comes amid challenging market conditions. NCIQ has attracted $32.8 million in inflows over the past five days despite its price falling 15.3% over the past month, according to data. This decline mirrors broader crypto market struggles, with Bitcoin down 15.9% over the past month to around $81,500, while Ethereum has dropped even further, falling 30.3% to $1,875 during the same period, according to CoinMarketCap as of midday Tuesday. The expansion to include altcoins may potentially offer investors a hedge against the volatility of individual cryptocurrencies, though most digital assets have generally moved in a similar direction over the past month as tariff and trade war concerns have rippled through the | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
15-03-2025
- Business
- Yahoo
Franklin Templeton Seeks XRP ETF Approval
Franklin Templeton, which manages $27.7 billion in 74 ETFs, has applied to issue a fund offering investors exposure to the spot price of the XRP cryptocurrency, the fourth-largest digital coin by market cap, which has tripled in price over the past year. The filing came a day after the Securities and Exchange Commission delayed its review of Grayscale Investments' XRP application, saying it needed more time. The new deadline is May 21. The delay was triggered by the SEC nearing an agreement with XRP founder Ripple Labs, Fox News's Eleanor Terrett posted on X. Ripple, sued in 2020, was fined $125 million in August when a court determined the company sold unregistered securities. The company has pushed back, and the SEC, more accommodating toward crypto markets under the Trump administration, is said to be negotiating a settlement more favorable to the company. The XRP ETF is among a slew of spot crypto ETFs that issuers have applied to create since the election of President Donald Trump last year. XRP, approved for trading in a Hashdex ETF in Brazil last month, joins Hedera and Solana among digital coins seeking to be traded as ETFs. So far, only Bitcoin and Ethereum have been approved for trading as ETFs. Franklin Templeton, which filed Tuesday to launch its XRP fund, has been known for its relatively conservative ETFs. Its largest is the $2.4 billion Franklin U.S. Core Bond ETF (FLCB) followed by the $2.2 billion Putnam Focused Large Cap Value ETF (PVAL). Still, its $426 million Franklin Bitcoin ETF (EZBC) was among the original spot bitcoin ETFs approved in January 2024. That fund's price has dropped 17% over the past three months. XRP, launched in 2012 as the token of the XRP Ledger, aims to be used in cross-border transactions. It's said to be faster and cheaper than other cryptocurrencies. In the U.S., the SEC is reviewing XRP applications from Grayscale, Bitwise, CoinShares, Canary Capital and WisdomTree. Bloomberg's Eric Balchunas posted on X that applications covering 64 cryptocurrencies have been submitted to the | © Copyright 2025 All rights reserved
Yahoo
30-01-2025
- Business
- Yahoo
Record-Breaking ETF Inflows Propel Q4 Crypto Surge
Bitcoin spot ETFs attracted record institutional capital in the fourth quarter of 2024, helping drive the broader crypto market to unprecedented heights, according to Hashdex's latest Market Pulse report. The surge in institutional adoption through ETF products signals a dramatic shift in how traditional finance views cryptocurrencies, with the quarter's $16.3 billion in bitcoin ETF inflows representing the largest ETF launch in U.S. stock market history—a milestone that could pave the way for broader mainstream acceptance. The quarterly analysis, authored by crypto asset manager Hashdex's research team led by head of research Pedro Lapenta, reveals that combined ETF inflows reached their highest levels of the year in the fourth quarter. The strong ETF momentum helped push bitcoin up 47.1% during the quarter, reaching a record high of $108,200 on Dec. 17, according to the report. Michigan's pension fund became the first of its kind to invest in Ethereum ETFs, following its earlier bitcoin ETF investments, according to Hashdex's analysis. Ethereum exchange-traded funds also saw renewed demand following Trump's election victory, closing the quarter with approximately $3.2 billion in net inflows after experiencing almost $500 million in net outflows during the third quarter, the report stated. The Nasdaq Crypto Index, meanwhile, recorded its strongest quarters ever, ending the year with a 47.9% return and significantly outperforming traditional market indices, according to the report. On Dec. 30, the second phase of the European Union's Markets in Crypto-Assets Regulation took effect, setting stricter licensing standards for crypto-assets service providers and bolstering trust in Europe's crypto market, Hashdex reported. The institutional momentum helped bitcoin surpass both silver and Saudi Arabian Oil Company Aramco to become the world's seventh-most-valuable asset by market capitalization, while pension funds are expected to further impact the crypto ETF markets in the coming months, according to the | © Copyright 2025 All rights reserved Sign in to access your portfolio
