Brazil Now Has the World's First Spot XRP ETF (XRPH11)

Asset manager Hashdex launched its XRPH11 fund on Brazil's B3 stock exchange on April 25th. This launch is a significant step for crypto investment access in Latin America and puts Brazil ahead in offering regulated crypto products.

Asset manager Hashdex has announced the launch of Brazil’s first spot XRP ETF, marking a significant step for crypto investment access in Latin America.

Hashdex’s XRPH11 fund hit Brazil’s B3 stock exchange on April 25th. This puts Brazil ahead in offering regulated crypto products, especially compared to the United States, where approval for a spot XRP ETF is still pending despite several filings.

Hashdex’s new ETF is designed to track the Nasdaq XRP Reference Price Index. To do this, at least 95% of the fund’s assets will be held in XRP or related instruments like futures. The remaining portion can be invested in fixed-income securities.

Hashdex’s bold move makes Brazil a leader in this space, having already applied for a Solana spot ETF. This follows the approval earlier in the year from Brazil’s CVM (Securities and Exchange Commission) for Hashdex’s XRPH11.

Hashdex Has Quickly Expanded Crypto ETF Lineup in Brazil

Hashdex has also been quickly expanding its crypto ETF offerings in Brazil. Earlier this year, they received approval for a Solana spot ETF, showcasing their ongoing efforts to introduce new products to investors.

XRPH11 becomes the ninth crypto ETF offered by Hashdex on the B3 exchange. The firm already provides funds tracking Bitcoin, Ethereum, and Solana.

This fund, officially titled the Hashdex Nasdaq XRP Fund de Índices, will be managed by Genial Investimentos. Genial Bank SA will act as the custodian, responsible for the safekeeping of the ETF’s assets.

The fund aims for simple XRP exposure with competitive fees: a total annual fee capped at 0.8% (0.7% management + 0.1% custody) and zero structuring fees for investors. This partnership between Hashdex and Genial also highlights the rapid development of Brazil’s financial market as it embraces digital assets.

Brazil’s New XRP ETF (XRPH11) Has Now Launched After CVM Approval

While Brazil is forging ahead, the US lags in approving a spot XRP ETF despite growing investor demand and multiple filings. Recent political shifts under the Trump administration, aiming to make the US a global crypto hub with clearer regulations, could speed things up.

This move comes after big players like Grayscale and Franklin Templeton submitted applications for US spot XRP ETFs, signaling their confidence that approval might be coming.

However, Brazil’s launch of XRPH11 now adds more urgency. Investors and the industry will be watching closely to see if the US SEC will act faster on the pending applications.