- Brazil’s XRPH11 ETF offers direct exposure to XRP, setting a global precedent.
- Hashdex expands crypto ETF portfolio with XRP, joining Bitcoin, Ethereum, and Solana.
- U.S. faces pressure as Brazil leads with the world’s first spot XRP ETF launch.
Brazil has unveiled the world’s first spot XRP exchange-traded fund (ETF), offering investors direct exposure to the popular digital asset. Listed on the B3 stock exchange under the ticker XRPH11, the fund is managed by Hashdex in collaboration with Genial Investimentos.
This launch marks a significant moment in the crypto industry, especially as major markets like the United States still lag in approving similar products. With Brazil stepping ahead, the Latin American nation continues to prove its leadership in embracing cryptocurrency innovations.
XRPH11 aims to allocate at least 95% of its net assets directly or indirectly into XRP. It tracks the Nasdaq XRP Reference Price Index, ensuring that investors experience accurate and real-time exposure to XRP’s market performance. Besides, Genial Bank SA will serve as the custodian for the fund, reinforcing trust and operational transparency.
Hashdex Strengthens its Crypto ETF Portfolio
Hashdex’s latest product expands its growing list of crypto-based ETFs already trading on the B3 exchange. The asset manager has successfully launched ETFs tied to Bitcoin, Ethereum, and Solana. The new XRP fund represents their ninth crypto ETF, showcasing Hashdex’s aggressive strategy to deepen its footprint in Brazil’s financial market.
Moreover, the XRP ETF comes with a competitive management fee structure. Investors will face a global maximum fee of 0.7%, an annual management fee of 0.8%, and a custodian fee of 0.1%.
Notably, there are no structuring fees, making the product even more attractive for institutional and retail investors alike. Significantly, Brazil’s Securities and Exchange Commission (CVM) approved the ETF earlier in February, signaling strong regulatory support for digital assets in the country.
Global Pressure Mounts as the U.S. Lags Behind
The launch of XRPH11 places considerable pressure on the United States, where a spot XRP ETF remains unavailable. Although XRP is native to the U.S. financial ecosystem, regulatory complexities have delayed similar launches domestically. Consequently, leading asset managers like Grayscale and Franklin Templeton have submitted applications, eager to capitalize on growing investor demand.
Besides, the recent political shift towards crypto-friendly policies under Donald Trump’s administration could accelerate regulatory approvals. His government has promised to make the United States the global hub for cryptocurrencies, encouraging an altcoin ETF application surge.
