Brazil Pioneers First Spot XRP ETF (XRPH11) on B3 Exchange, Boosting Global Institutional Access
Brazil has become the first country to launch a spot XRP ETF, named Hashdex Nasdaq XRP Fundo de Índice (XRPH11), on the B3 stock exchange. Managed by Hashdex and secured by Banco Genial, the fund tracks the Nasdaq XRP Reference Price Index and starts with about $40 million in assets. At least 95% of its portfolio is invested in XRP or related products, catering to increased institutional interest. The management fee is capped at 0.7% per year. Regulatory approval was granted by the Brazilian Securities and Exchange Commission two months prior to launch, positioning Brazil as a leader in regulated crypto investment products. This development comes as the US SEC continues to delay spot XRP ETF approvals, intensifying global attention on XRP investment vehicles. Hashdex, a leading crypto fund provider in Brazil, now offers its ninth digital asset ETF, underlining the country’s rapidly expanding ecosystem for regulated crypto funds. The move is expected to heighten global interest in XRP, enhance crypto diversification for institutional investors, and could spur other jurisdictions to develop similar regulatory frameworks, thereby shaping the global future of crypto investment products.
Bullish
The launch of the first spot XRP ETF (XRPH11) in Brazil provides institutional investors direct access to XRP through a regulated product, setting a precedent for similar offerings globally. Managed by Hashdex on the B3 exchange, the fund’s significant allocation to XRP and regulatory approval by the Brazilian SEC mark a major step forward for mainstream crypto adoption. This development is likely to increase demand and liquidity for XRP, especially with considerable initial assets and low management fees. The move comes as US regulators delay similar products, highlighting Brazil’s leadership and potentially pressuring other jurisdictions to follow suit. Historically, such ETF launches tend to attract inflows and positive sentiment, signaling a bullish outlook for XRP in both the short and long term.