- Brazil has launched the world’s first spot XRP ETF through Hashdex on the B3 exchange.
- This move increases pressure on the United States to approve its own spot XRP ETF.
Brazil has made history by launching the world’s first-ever spot XRP Exchange-Traded Fund (ETF). Introduced by asset manager Hashdex, officially debuted on Brazil’s B3 stock exchange on April 25 under the ticker symbol XRPH11.
A Major Leap Forward for Crypto Investment in Brazil
The approval from Brazil’s Securities and Exchange Commission (CVM) earlier this year set the stage for this groundbreaking move. XRPH11 will track XRP’s performance using the Nasdaq XRP Reference Price Index and will invest at least 95% of its assets in XRP itself. Fund management is handled by Genial Investimentos, with Genial Bank SA serving as custodian.
BREAKING 🚨
First-ever XRP spot ETF debuts on Brazil’s main stock exchange– Brazil has introduced the first-ever XRP spot ETF, debuting on the B3 stock exchange.
– The ETF, managed by Hashdex, is set to track XRP’s price using the Nasdaq XRP Reference Price Index.=”yoast-text-mark” href=””#Crypto</a”>… pic.twitter.com/xgXtukANcr— Global Rashid (@globalrashid007) April 26, 2025
Hashdex has structured the fund with a total annual expense of 0.8%, covering a 0.7% management fee and a 0.1% custodian fee. Interestingly, there are no structuring fees applied, making it an attractive investment vehicle for Brazilian crypto enthusiasts. This launch marks Hashdex’s ninth cryptocurrency ETF on the B3 exchange, following successful products linked to Bitcoin, Ethereum, and Solana.
XRP is currently trading at $2.3, signaling growing interest as Brazil continues to cement its reputation as a leader in crypto investment offerings.
Rising Pressure for a U.S. Spot XRP ETF
The success of Brazil’s XRP ETF has put a spotlight on the United States. Despite increasing market interest, a spot XRP ETF has yet to be approved. XRP, created by U.S.-based Ripple Labs, stands as the third-largest cryptocurrency by market cap when excluding stablecoins.
Ripple’s ongoing progress in resolving regulatory issues with the (SEC) and the broader push from political leaders to foster crypto innovation are helping create a more favorable climate for potential approvals.
Notably, major asset managers like Grayscale and Franklin Templeton have already filed for XRP spot ETFs in the United states.
Analysts estimate a 73% probability of approval soon.
Although the U.S. recently saw the launch of a leveraged XRP ETF, a pure spot offering remains elusive.
Brazil’s bold move with Hashdex’s launch is a milestone moment, positioning the country as a pioneer in crypto ETF adoption and potentially accelerating the timeline for a U.S. spot XRP ETF.
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