Brazil Launches First Spot XRP ETF, XRPH11, Signaling Crypto-Friendly Policies

Brazil has made history by becoming the first country to launch a spot XRP ETF, with the fund, XRPH11, launched on April 25th on Brazil’s B3 stock exchange. This achievement follows a positive trend in crypto regulations within the country and marks a significant step forward for XRP adoption. The ETF is managed by Genial Investimentos and tracks the Nasdaq XRP Reference Price Index, with at least 95% of assets allocated to XRP. This move contrasts with the regulatory hurdles faced by similar products in the U.S., where progress remains slow. Brazil also recently introduced its first Solana ETF last year. 💰