Brazil Debuts World’s First Spot XRP ETF, Creating New Doors of Opportunity for Crypto Investors
Brazil is once more leading the way in cryptocurrency innovation with the listing of XRPH11, the first spot exchange-traded fund (ETF) ever that tracks XRP directly. It listed on April 25, 2025, on Brazil’s main stock exchange, B3, marking a milestone in the inclusion of digital assets into the mainstream financial systems.
Hashdex Launches Nasdaq XRP Index ETF (XRPH11) in Brazil
The new ETF is officially known as Hashdex Nasdaq XRP Index Fund. It is currently being managed by Hashdex, a leading Brazilian digital asset manager. Genial Investimentos handles the administration of the fund and Genial Bank SA serves as the custodian of the fund.
“Our goal is to provide simple and secure entry points for institutions to access crypto markets,” said Samir Kerbage, Hashdex Chief Investment Officer, underscoring the firm’s commitment to transparency and compliance.
XRPH11 is structured to closely track the Nasdaq XRP Reference Price Index (NQXRP), which gathers real-time prices from leading global cryptocurrency exchanges to provide a solid benchmark for the market value of XRP. The structure of the fund necessitates the fund’s assets to be invested at least 95% directly in XRP or financial instruments tied to the cryptocurrency.
On the day it launched, XRPH11 oversees nearly $40 million in assets, reflecting strong initial interest by professional and institutional investors. The ETF has competitive pricing, including a maximum annual management and administration fee of up to 0.7% and a maximum custody fee of up to 0.1%, with no structuring fees.
Brazil’s Securities and Exchange Commission (CVM) approved the ETF in February 2025, following which it went through a pre-operational phase to make sure everything was in place for public trading.
This approval by the regulator is a testament to Brazil’s forward-thinking attitude towards digital assets and its openness to bringing cryptocurrencies into the mainstream financial system.
The addition of XRPH11 brings Hashdex’s lineup of crypto ETFs on B3 to nine, including those that track Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11). This inclusion reflects growing interest among investors for regulated access to cryptocurrency markets.
Brazil Launches Trailblazing XRP ETF Amid US Regulatory Wait
Brazil’s trailblazing action is taking place as other large markets, especially the United States, still await similar spot XRP ETFs to be approved. Even though XRP enjoys American roots via Ripple Labs, regulatory challenges in the United States have so far prevented the introduction of the same.
According to experts, in case spot XRP and Solana ETFs are approved in the United States, they might draw as much as $14 billion of flows, demonstrating the massive potential of regulated crypto investment products.
Brazil now has more Bitcoin ETFs than any other country in Latin America, and leading Brazilian banks are now offering exposure to digital assets to their customers. Although earlier launches, like the Solana ETF in 2024, had extremely low trading volumes, the XRPH11 launch may establish a new benchmark for crypto ETF adoption if it can sustain investor interest.
The inauguration of XRPH11 sends a message to global markets that regulated, transparent, and investor-friendly crypto products are not only feasible but already here. With regulatory certainty still evolving around the world, Brazil’s pioneering step is bound to inspire other nations to be similarly proactive, further integrating digital assets into the mainstream financial system.
Now, Brazil is on the front line of digital finance innovation, taking bold strides towards creating the world’s future from the perspective of cryptocurrency investment. XRPH11’s success may be the impetus for other such products elsewhere and can shape regulatory policies from around the world towards cryptocurrency ETFs.
As cryptocurrencies and traditional finance increasingly overlap, products like XRPH11 are an essential nexus, giving institutional investors a familiar and regulated vehicle to gain exposure to cryptocurrencies while maintaining the security and oversight they demand from traditional financial products.
