The world's first XRP ETF, named XRPH11, started trading on Brazil's B3 stock exchange

The world’s first XRP ETF, named XRPH11, started trading on Brazil's B3 stock exchange on April 25, 2025. Issued by Hashdex, the Hashdex XRP ETF focuses on providing direct and indirect exposure to XRP for institutional investors.

The world’s first XRP ETF, named XRPH11, started trading on Brazil’s B3 stock exchange on April 25. Issued by Hashdex, the Hashdex XRP ETF aims to provide direct and indirect exposure to XRP for institutional investors.

XRPH11 will invest at least 95% of its assets in XRP, according to the company’s announcement. As of the launch day, no official trading volume for XRPH11 has been disclosed. However, Hashdex confirmed on its website that the Brazil XRP ETF is live.

Earlier, Brazil also approved the first Solana ETF. With XRPH11, Brazil again moves ahead of several countries, where the XRP ETF approval process remains slower.

Hashdex XRP ETF Targets Institutional Investors

Samir Kerbage, Chief Investment Officer of Hashdex, explained the strategy behind XRPH11 in a statement to local media. He said,

“XRPH11 is part of Hashdex’s line of mono-asset funds, such as the ETFs BITH11, ETHE11 and SOLH11. The focus of these ETFs is sophisticated investors, such as institutional investors who want to build crypto portfolios on B3.”

Hashdex first pursued approval for the Hashdex XRP ETF in February. The company had previously worked on several crypto ETF proposals in the U.S. However, it decided to focus efforts on Brazil’s growing market two years ago.

Hashdex already operates other funds like BITH11 for Bitcoin, ETHE11 for Ethereum, and SOLH11 for Solana. The launch of XRPH11 expands the firm’s single-asset crypto ETF lineup.

Brazil XRP ETF Launch Faster Than U.S. Approvals

The Brazil XRP ETF moved from approval to trading within two months, with approval granted in February and launch in April. By comparison, several U.S. applications for XRP ETF approval are still waiting for regulatory clearance.

While U.S. regulators have hinted at possible approvals, no XRP ETF has been allowed so far. Meanwhile, Brazil continues to show faster progress in offering regulated crypto investment options.

According to Polymarket XRP ETF odds, there is currently a 74% chance of an XRP ETF approval in the U.S. by the end of this year. However, the American market remains slower than Brazil’s quick launch.

As of now, there is no public trading data available for XRPH11 on its first day. Analysts and investors are watching how the Brazil XRP ETF will perform in its early days of trading.

Last year, the Brazilian Solana ETF saw little immediate market impact after launch. There are concerns that XRPH11 might experience a similar pattern, especially amid recent weak movements in XRP’s price.

Even without public trading data yet, XRPH11 represents an important case study.