Brazil has made history as the first country to launch a spot XRP exchange-traded fund (ETF), solidifying its position as a leader in the global crypto market. The new fund, XRPH11, began trading on April 25, 2025, on B3, Brazil’s primary stock exchange.
Created by Hashdex, a prominent digital asset manager in Brazil, and managed by Genial Investimentos, XRPH11 is the first ETF to be directly tied to XRP, the cryptocurrency developed by Ripple. It tracks the XRP Reference Price Index (NQXRP), which provides real-time pricing data from major crypto exchanges.
Hashdex’s initiative received approval from Brazil’s Securities and Exchange Commission (CVM) in February, and the ETF underwent a pre-operational phase to ensure it was ready for launch. According to official filings, a minimum of 95% of the ETF’s assets will be invested in XRP or related financial products. Currently, the ETF holds assets nearing $40 million.
The fund charges a management and administration fee of up to 0.7%, with an additional custody fee of 0.1%. Unlike many other ETFs, XRPH11 does not impose structuring fees. With this launch, Hashdex has now expanded its crypto ETF offerings to nine products on B3, including ETFs linked to Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11), primarily catering to institutional investors seeking regulated exposure to digital assets in Brazil.
Samir Kerbage, Chief Investment Officer at Hashdex, stated that the firm aims to provide secure and accessible crypto investment options for institutional investors. As Brazil leads the way, there is growing speculation that similar spot XRP and Solana ETFs could soon be approved in the United States, potentially attracting up to $14 billion in investments.
Brazil’s bold move underscores its commitment to advancing digital finance and positioning itself at the forefront of the cryptocurrency industry.
Related topics:
Salamancas’ From Breaking Bad Deal Memecoins on Binance Chain
Mythical Games Set to Launch FIFA Rivals Web3 Mobile Game in June
Mythical Games to Launch Web3 Soccer Game “FIFA Rivals” in June
