Brazil launches world’s first XRP ETF – TechStory
Brazil made history by becoming the first country to launch a spot XRP ETF, named XRPH11, on the B3 stock exchange on April 25, 2025. This milestone marks the beginning of a new chapter for crypto investment opportunities in Brazil.
Managed by Hashdex, a prominent Brazilian digital asset manager, the Hashdex Nasdaq XRP Index Fund has Genial Investimentos overseeing its administration and Genial Bank SA acting as the fund’s custodian. The mission behind this ETF is to provide reliable access for institutions to enter the crypto markets, prioritizing transparency and compliance.
The XRPH11 ETF is structured to mirror the Nasdaq XRP Reference Price Index (NQXRP), which aggregates real-time prices from major global crypto exchanges to establish a robust XRP market value benchmark. At least 95% of the fund’s assets must be directly invested in XRP or related financial instruments.
With nearly $40 million in assets under its management, XRPH11 has gained significant interest from professional and institutional investors since its launch day. Offering competitive pricing, including a maximum annual management and administration fee of 0.7% and a maximum custody fee of 0.1%, the ETF has garnered attention for its cost-efficiency.
Approval from Brazil’s Securities and Exchange Commission (CVM) in February 2025 marked a critical step towards the public trading debut of XRPH11. This regulatory green light underscores Brazil’s progressive stance and willingness to integrate cryptocurrencies into its financial ecosystem.
Hashdex’s portfolio now includes nine crypto ETFs on B3, encompassing offerings tracking Bitcoin, Ethereum, and Solana, illuminating the surging investor interest in regulated cryptocurrency market access. This move signals a growing trend towards cryptocurrency adoption among investors.
While Brazil leads the way with its groundbreaking XRP ETF launch, other major markets, notably the United States, are still awaiting similar approvals. Despite XRP’s American origins through Ripple Labs, regulatory complexities in the US have posed hurdles against the introduction of spot XRP ETFs.
The revolutionary step taken by Brazil illustrates a pivotal moment in the integration of digital assets into traditional financial systems. As investors navigate the evolving cryptocurrency landscape, the XRPH11 ETF signifies Brazil’s commitment to embracing innovation and pioneering solutions in the realm of cryptocurrency investment.
