Brazil has taken a significant step in cryptocurrency investment by launching the world’s first spot XRP exchange-traded fund (ETF). According to reports, asset management firm Hashdex introduced the XRPH11 ETF on the B3 stock exchange on April 25.
The XRPH11 fund tracks the Nasdaq XRP Reference Price Index as its primary index. The fund holds at least 95% of its assets directly in XRP or through its linked financial instruments, including futures.
With its recent business expansion, Hashdex strengthens Brazil’s leadership position in regulated crypto product offerings throughout the region. The approval puts additional strain on US regulatory bodies because a similar product still needs authorization to launch there.
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Brazil’s Securities and Exchange Commission (CVM) approved the XRPH11 fund at the start of this year. The approval represents a significant achievement for Hashdex, which gained its second approval after gaining authority for a Solana spot ETF.
Management of the fund has been entrusted to Genial Investimentos. Genial Bank SA has been assigned custody responsibilities, ensuring secure handling of the fund’s assets.
Moreover, the fund offers a competitive annual fee structure, capped at 0.8 percent. The breakdown includes 0.7 percent for management and 0.1 percent for custody, with no extra structuring fees for investors.
Hashdex Expands Crypto Investment Products Amid Growing Demand
Besides XRPH11, Hashdex manages nine crypto-focused ETFs listed on the B3 exchange. These funds provide diversified exposure to digital assets, including Bitcoin, Ethereum, and Solana.
Brazil’s recent XRPH11 launch shows financial sector development. There is an active demand for regulated crypto investment options because both institutional entities and retail investors are showing strong interest.
Brazil’s quick regulatory approach now requires immediate attention from US regulatory bodies. Major firms, including Grayscale and Franklin Templeton, have applied for a spot in XRP ETF, but the United States regulators have not yet approved.
Recent political shifts under President Donald Trump have renewed hopes for faster regulatory clarity in the crypto sector. Trump’s administration’s digital asset leadership initiative has created potential momentum for moving forward on ETF approvals.
Significantly, Brazil’s progress places it at the forefront of global crypto innovation. The global crypto investment world looks to the US for its response since it may revolutionize the market structure.
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