Brazil has recently approved the world’s first spot XRP exchange-traded fund (ETF), the Hashdex Nasdaq XRP Index Fund. Managed by Hashdex, this ETF aims to provide investors with direct exposure to XRP, the digital asset associated with Ripple Labs. The fund is currently in its pre-operational phase, with an official trading date on Brazil’s B3 exchange yet to be announced.
In parallel, Tether, the issuer of the USDT stablecoin, has expanded its investment portfolio by acquiring a 9.8% stake in Adecoagro SA, a prominent agribusiness firm operating in Argentina, Brazil, and Uruguay. This $100 million investment marks Tether’s first venture into the agriculture and food sector, reflecting its strategy to diversify beyond digital finance.
These developments underscore the dynamic and evolving nature of the cryptocurrency and blockchain sectors, as companies like Hashdex and Tether explore new avenues for growth and diversification.
