巴西推出了世界上第一個位置XRP ETF，XRPH11，現在在B3 Exchange上進行交易

對於加密投資者來說，這是一個歷史性的時刻！

Brazil has become the first country in the world to launch a spot XRP ETF, a move that has major implications for crypto investors and could pave the way for a U.S. XRP ETF.

巴西已成為世界上第一個推出XRP ETF的國家，此舉對加密投資者俱有重大影響，並可能為美國XRP ETF鋪平道路。

The groundbreaking ETF, symbolized as XRPH11, is now live and trading on Brazil's B3 stock exchange. This development provides a fully regulated avenue for investors to gain exposure to XRP through the traditional financial markets.

象徵為XRPH11的開創性ETF現在正在巴西的B3證券交易所進行生活和交易。這一開發為投資者提供了完全監管的途徑，以通過傳統的金融市場獲得XRP的風險。

Clocking in at R$48.30, XRPH11 is now open for trading, allowing investors to buy and sell units of the ETF just like any stock.

XRPH11的價格為48.30新元，現在可以進行交易，使投資者像任何股票一樣可以買賣ETF的單位。

However, it's worth noting that the ETF is denominated in Brazilian Real (BRL), rendering it inaccessible to U.S. investors at least for the time being.

但是，值得注意的是，ETF在巴西皇家（BRL）中被稱為，至少暫時使美國投資者無法接近。

Despite this limitation, the launch of the XRP ETF in Brazil is a significant moment for the crypto community.

儘管有這一限制，但在巴西的XRP ETF推出是加密社區的重要時刻。

After months of anticipation and several attempts to get a U.S. listing, the first ETF to hit a major exchange is not a Bitcoin or Ethereum product, but rather an offering tied to the world’s sixth-largest cryptocurrency.

經過幾個月的期待和幾次嘗試獲取美國上市的嘗試，第一個達成主要交易所的ETF不是比特幣或以太坊產品，而是與世界第六大加密貨幣相關的產品。

The XRP ETF is being launched by brokerage firm Modal Capital, which also serves as the administrator of the product.

XRP ETF是由經紀公司Modal Capital推出的，該公司也是產品管理員。

Moreover, the São Paulo-based firm has been granted the status of a professional market maker for the ETF on B3.

此外，這家位於聖保羅的公司已獲得B3的ETF專業做市商的地位。

Earlier this year, Modal Capital obtained approval from the Brazilian Securities Commission (CVM) to launch the XRPH11 ETF.

今年早些時候，Modal Capital獲得了巴西證券委員會（CVM）的批准，以啟動XRPH11 ETF。

This follows a two-year period in which CVM was working on regulations for crypto products, finally approved in December 2022.

這是在兩年的時間內CVM致力於加密產品法規，最終於2022年12月批准。

In contrast, the U.S. Securities and Exchange Commission (SEC) has faced several setbacks in its attempts to approve crypto ETFs, notably due to concerns over market manipulation and investor protection.

相比之下，美國證券交易委員會（SEC）試圖批准加密ETF，尤其是由於對市場操縱和投資者保護的擔憂。

Earlier this year, a federal appeals court overturned a ruling by a lower court and sided with the SEC in its refusal to approve an application from asset manager Ark Invest and Cathie Wood to launch a spot Bitcoin ETF.

今年早些時候，聯邦上訴法院推翻了下級法院的裁決，並支持SEC拒絕批准資產經理Ark Invest和Cathie Wood的申請，以推出現場比特幣ETF。

However, the court's decision to vacate the lower court ruling might prompt the SEC to swiftly approve the Ark Invest and Cathie Wood ETF application.

但是，法院撤離下級法院裁決的決定可能會促使SEC迅速批准ARK Invest和Cathie Wood ETF申請。

Moreover, the SEC has been sued by several parties for delaying the approval process.

此外，SEC已被幾個政黨起訴，以延遲批准過程。

Earlier this month, a U.S. judge ordered the SEC to respond to a lawsuit filed by several crypto firms, including Coinbase (NASDAQ:COIN) and Circle, who are pushing for the approval of crypto ETFs.

本月初，美國法官命令SEC回應包括Coinbase（NASDAQ：COIN）在內的幾家加密貨幣公司提起的訴訟，他們正在推動批准加密ETF的批准。

The SEC has until August 8 to file its response.

SEC必須在8月8日之前提交回應。

In April, the SEC staff recommended approval for two applications for a spot bitcoin ETF, notably from asset manager BlackRock (NYSE:BLK) and mutual fund provider WisdomTree (NYSE:WδίΜ).

4月，SEC的工作人員建議批准兩項申請比特幣ETF，特別是來自Asset Manager BlackRock（NYSE：BLK）和共同基金提供商WisdomTree（NYSE：Wδίμ）。

The applications were submitted earlier this year after the Supreme Court ruled in favor of the SEC in a case concerning futures ETFs.

這些申請是在最高法院裁定有利於SEC的期貨ETF的案件後於今年早些時候提交的。

Following the Supreme Court ruling, there was widespread speculation that the SEC would now quickly approve applications for spot crypto ETFs.

在最高法院的裁決之後，人們普遍猜測，SEC現在將迅速批准Spot Crypto ETF的申請。

However, the SEC did not immediately approve the applications and instead requested additional time to review them.

但是，SEC沒有立即批准申請，而是請求額外的時間來審查它們。

Despite this delay, the SEC staff's recommendation, and the subsequent move by the regulator to defer a decision on both applications until August 13, marks a crucial step toward potentially launching the first U.S. spot bitcoin ETFs by the end of the year.

儘管延遲了，SEC員工的建議以及監管機構隨後將兩種申請的決定推遲到8月13日的行動，這是朝著在今年年底之前推出美國首個美國現場比特幣ETF的關鍵一步。

After reviewing the applications, the SEC staff determined that they met the relevant legal requirements and recommended approval.

在審查了申請後，SEC工作人員確定他們滿足了相關的法律要求並建議批准。

In their recommendation, the SEC staff said they had no "objection" to the applications from BlackRock and WisdomTree.

SEC工作人員在建議中說，他們對BlackRock和WisdomTree的申請沒有“反對”。

Both applications were submitted earlier this year after the Supreme Court ruled in favor of the SEC in a case concerning futures ETFs.

這兩項申請均在最高法院在有關期貨ETF的案件中裁定有利於SEC的裁決後，於今年早些時候提交。

The Supreme Court ruling created an opening for the SEC to quickly approve applications for spot crypto ETFs.

最高法院的裁決為SEC迅速批准了現場加密ETF的申請，為SEC創造了一個空缺。

Earlier this year, a lower court ruled in favor of the SEC in a case where the agency was attempting to block an application for a spot bitcoin ETF from Ark Invest and Cathie Wood.

今年早些時候，下級法院在該機構試圖阻止ARK Invest和Cathie Wood的現場比特幣ETF申請的情況下裁定支持SEC的裁決。

However, a federal appeals court overturned the lower court ruling and sided with the SEC.

但是，聯邦上訴法院推翻了下級法院的裁決，並支持SEC。

The court's decision to vacate the lower court ruling might now prompt the SEC to rapidly approve the Ark Invest and Cathie Wood ETF application.

法院撤離下級法院裁決的決定現在可能會促使SEC迅速批准ARK Invest和Cathie Wood ETF申請。

Earlier this year, a U.S. judge ordered the SEC to respond to a lawsuit filed by several crypto firms, including Coinbase and Circle, who are pushing for the approval of crypto ETFs.

今年早些時候，一名美國法官命令SEC回應包括Coinbase和Circle在內的幾家加密貨幣公司提起的訴訟，他們正在推動批准加密ETF。

The SEC has been sued by several parties for delaying the approval process.

SEC已被幾個政黨起訴，以延遲批准過程。

Earlier this month, a U.S. judge ordered the SEC to respond to a lawsuit filed by several crypto firms, including Coinbase and Circle, who are pushing for the approval of crypto ETFs.

本月初，美國法官命令SEC回應包括Coinbase和Circle在內的幾家加密貨幣公司提起的訴訟，他們正在推動批准加密ETF。

The SEC has been sued by several parties for delaying the approval process.

SEC已被幾個政黨起訴，以延遲批准過程。

Earlier this month, a U.S. judge ordered the SEC to respond to a lawsuit filed by several crypto firms, including Coinbase and Circle, who are pushing for the approval of crypto ETFs.

本月初，美國法官命令SEC回應包括Coinbase和Circle在內的幾家加密貨幣公司提起的訴訟，他們正在推動批准加密ETF。

The SEC has until August

SEC必須到八月