On April 25, Brazil officially became the first country to launch a spot XRP exchange-traded fund (ETF). Managed by Hashdex and listed under the ticker XRPH11 on Brazil’s B3 exchange, this fund marks a new chapter not just for XRP, but for the global crypto community.
XRPH11 is designed to track the Nasdaq XRP Reference Price Index, keeping at least 95% of its holdings in XRP through direct purchases, futures, or other XRP-linked financial products. For now, it’s the only ETF of its kind available anywhere in the world, giving Brazilian investors a new, regulated way to invest in one of the largest cryptocurrencies.
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How the ETF Works
Hashdex has already built a reputation for bringing digital assets to Brazil’s stock market. XRPH11 is now their ninth crypto product, showing their clear focus on making crypto investments simple and familiar for traditional investors. Administered by Genial Investimentos, the ETF aims to combine the accessibility of a regular stock with the performance of XRP.
The fund launched with around $40 million in net assets and charges a 0.7% management fee along with a small custody fee of 0.1%. There are no hidden structuring fees, which should make it more attractive to investors comparing different options.
Hashdex also made sure that the fund fits into Brazil’s existing market structure, making it easier for institutions and wealth managers to add XRP exposure without setting up new wallets or dealing with crypto exchanges directly.
Read also: Hashdex Pushes for Expanded Crypto ETF with SEC Filing
Why Brazil Took the Lead
In the United States, the SEC is still dragging its feet on approving any spot XRP ETFs, despite the fact that XRP has cleared its biggest legal hurdles earlier this year.
Brazil’s regulators, on the other hand, seem to have recognized the growing demand for crypto investments. The Comissão de Valores Mobiliários (CVM) gave the green light in February, allowing Hashdex to move fast and get the ETF to market by April.
It’s not the first time Brazil has beaten other countries to crypto innovation. Just last year, it also approved the first spot Solana ETF. Even if the Solana product didn’t become a runaway success, it showed that Brazil’s financial authorities are willing to take calculated risks to position the country as a serious player in digital assets.
What’s Next?
Despite regulatory uncertainties elsewhere, Brazil’s decision signals an increasing global acceptance of crypto assets in traditional financial markets. The introduction of XRPH11 provides investors with a regulated avenue to gain exposure to XRP through Brazil’s equity market infrastructure, without the need to hold the cryptocurrency directly.
With this milestone now achieved, all eyes are on the United States to follow with its own spot XRP ETF. Several applications are still awaiting regulatory approval, and a positive decision could further accelerate the adoption of XRP-related financial products worldwide.
Read also: Spot Crypto ETFs: Who’s Next in Line for Approval?
