- Hashdex’s XRPH11 positions Brazil as a leader in crypto financial products.
- U.S. investors still lack a regulated XRP spot ETF despite rising demand.
- Ripple’s SEC progress could pave the way for U.S. XRP ETF approval soon.
Brazil now has the world’s first spot XRP ETF. Asset manager Hashdex launched its XRPH11 fund on Brazil’s B3 stock exchange on April 25th.
This launch is a significant step for crypto investment access in Latin America and puts Brazil ahead in offering regulated crypto products.
How Brazil’s New XRP ETF (XRPH11) Works
The XRPH11 ETF is designed to track the Nasdaq XRP Reference Price Index. It does this by holding at least 95% of its assets in XRP, either directly or through related instruments like futures.
Hashdex’s bold move now makes Brazil a leader in this space. It has also intensified pressure on the United States, where regulators haven’t yet approved a similar spot XRP ETF, even though XRP has American roots via Ripple Labs.
Hashdex Adds XRP to Growing Crypto ETF Lineup
This XRPH11 launch received approval from Brazil’s CVM (Securities and Exchange Commission) earlier in the year. Hashdex also recently got the green light for a Solana spot ETF in Brazil, showing their quick expansion in the region. XRPH11 is now the ninth crypto ETF offered by Hashdex on the B3 exchange, alongside others tracking Bitcoin, Ethereum, and Solana.
The fund, officially named the Hashdex Nasdaq XRP Fund de Índices, is managed by Genial Investimentos. Genial Bank SA acts as the custodian, responsible for securely holding the ETF’s assets.
Related: Hashdex Seeks SEC Approval to Add Litecoin to Its Nasdaq Crypto Index US ETF
The fund aims for simple XRP exposure with competitive fees: a total annual fee capped at 0.8% (0.7% management + 0.1% custody) and zero structuring fees for investors. This partnership between Hashdex and Genial also shows Brazil’s financial market is quickly maturing and embracing digital assets.
Launch Increases Pressure for US Spot XRP ETF Approval
While Brazil surges ahead, the US still lags on approving a spot XRP ETF, despite growing investor demand and multiple filings. Recent political shifts under the Trump administration, which aims to make the US a global crypto hub with clearer regulations, could speed things up. Big players like Grayscale and Franklin Templeton have already submitted applications for US spot XRP ETFs, signaling their confidence that approval might be coming.
Related: Hashdex Revamps Bitcoin ETF Filing, but Key Detail Remains Unclear
Brazil’s launch of XRPH11 now adds more urgency. Investors and the industry are watching closely to see if the US SEC will act faster on the pending applications.
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