- Hashdex has launched XRPH11, the world’s first XRP spot ETF, on Brazil’s B3 exchange, investing at least 95% of its assets directly in XRP to attract institutional and advanced investors.
- While the launch marks a major milestone, XRPH11’s success remains uncertain, and global attention now turns to the pending approval of XRP ETFs in the U.S.
Brazil has officially launched the world’s first-ever XRP spot exchange-traded fund (ETF), giving investors a regulated avenue to gain exposure to the popular cryptocurrency. Issued by Hashdex and managed by Genial Investimentos, the new fund — listed under the ticker XRPH11 — began trading on April 25 on Brazil’s B3 stock exchange.
🚀 XRPH11 – The world's first XRP ETF. Another crypto milestone on the Brazilian stock exchange! 🇧🇷
Hashdex just launched XRPH11, giving investors secure and regulated access to $XRP — one of the leading #crypto assets focused on fast, low-cost international payments. pic.twitter.com/kpokQP5NM4
— Hashdex (@hashdex) April 25, 2025
XRPH11 Aims to Attract Institutional and Advanced Investors
The XRPH11 ETF tracks the Nasdaq XRP Reference Price Index and allocates at least 95% of its assets directly into XRP. Designed mainly for institutional and sophisticated investors, the fund offers a new opportunity to diversify portfolios within Brazil’s capital markets. Samir Kerbage, CIO of Hashdex, highlighted that XRPH11 is the ninth ETF the company has launched on B3, expanding their lineup that already includes products based on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Hashdex chose Genial Bank SA as the custodian for XRPH11, ensuring that security, transparency, and regulatory alignment remain priorities. Despite Brazil representing just 0.9% of global crypto ETP assets under management (AUM), Hashdex’s early move positions it to capitalize on potential market growth.
A Tough Road Ahead for XRPH11’s Success
While the launch is groundbreaking, success is far from guaranteed. Brazil’s previous attempt with a Solana (SOL) ETF earlier in 2024 struggled to gain traction. If XRPH11 faces similar challenges, investors could be left disappointed, and XRP’s price might see short-term pressure.
However, momentum seems to be building. XRP-related ETPs recorded the strongest weekly inflows recently, pulling in approximately $37.7 million. Plus, JPMorgan’s forecast from January suggests that crypto ETPs could experience up to $8 billion in net flows, a figure that would massively expand their current AUM.
Eyes on the U.S. as XRP ETF Hopes Rise
Meanwhile, in the United States, XRP ETFs have yet to receive approval. Major players like Grayscale and Bitwise are waiting on the U.S. Securities and Exchange Commission (SEC) for the green light. The outlook is cautiously optimistic: Polymarket predicts a 74% probability of U.S. approval in 2025.
ETF Store President Nate Geraci recently remarked that XRP ETF approval is “obvious” and only a matter of time, suggesting that asset giants like BlackRock and Fidelity might eventually step in.
With Brazil taking the first big step, the world will be closely watching whether XRPH11 can deliver — and whether the U.S. market will soon follow suit.
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