XRP Launches First Spot ETF in Brazil, Signaling Global Market Shift

Brazil has taken a pioneering step forward in the crypto world by approving its first XRP spot ETF, XRPH11, on the B3 stock exchange. This landmark move signifies a significant shift towards regulated cryptocurrency ETFs, potentially increasing market liquidity and institutional participation. Hashdex, a leading firm known for its successful implementation of Bitcoin and Ethereum ETFs, has launched this groundbreaking product, allocating at least 95% of its net assets to XRP. With an estimated asset value of $40 million, XRPH11 represents the latest step in a trend toward more sophisticated crypto investment vehicles.