Parashas Mishpatim · Passuk 24:6
Chabad.org — English translation + Rashi
Torah Temimah points to Kerisus 9a (verified). (verified).
English: Rabbi says: Just as your ancestors entered the covenant through circumcision, immersion, and the presentation of blood, so too later converts enter the covenant through circumcision, immersion, and the presentation of blood. The Gemara derives these elements from the Exodus-era covenant.
In context: See the cited source for the full section.
Derash on the verse.