Brazil has taken a significant step forward in the cryptocurrency space by becoming the first country to launch a spot XRP exchange-traded fund (ETF). The new XRPH11 ETF, listed on B3’s stock exchange, offers investors secure and regulated access to XRP, the cryptocurrency developed by Ripple. This groundbreaking move follows extensive regulatory approval from Brazil’s Securities and Exchange Commission (CVM) and rigorous preparation for public trading.
The fund, created by Hashdex, one of Brazil’s leading digital asset managers, tracks the XRP Reference Price Index (NQXRP), providing real-time price data from major crypto exchanges. At least 95% of XRPH11’s assets will be invested in XRP or related financial products. As of now, the ETF is valued at close to $40 million.
Hashdex has also taken the lead in expanding its crypto ETF offerings on B3 with this launch, bringing the total to nine products including funds linked to Bitcoin, Ethereum, and Solana. These ETFs cater to sophisticated investors seeking to implement regulated crypto strategies within Brazil’s established financial landscape.
This milestone underscores Brazil’s pioneering role in the cryptocurrency space.
Further, analysts believe similar spot XRP and Solana ETFs could attract significant investor interest in the U.S., potentially reaching $14 billion in assets under management if approved. The launch of XRPH11 has once again solidified Brazil as a leader in embracing innovation within the digital finance sector.