Brazil has broken new ground by introducing the world’s first exchange-traded fund that mirrors the spot price of XRP, Ripple’s native token.
The Hashdex Nasdaq XRP Fundo de Índice, trading under the ticker XRPH11, began trading on April 25 on B3, Brazil’s main stock exchange.
Fund Structure and Management
The ETF is managed by Hashdex, a Brazilian asset manager, and administered by Genial Investments Securities Brokerage SA. Genial Bank SA serves as the custodian.
Regulators at Brazil’s SEC approved the XRP-linked fund in February, following their green light for Hashdex’s spot Solana ETF last August. Before its debut, the fund went through a preparatory phase to ensure all systems and processes were in place.
Investment Strategy
XRPH11 aims to replicate the XRP Reference Price Index, which measures the spot price of XRP across leading cryptocurrency platforms.
The ETF pledges to invest at least 95% of its net assets directly in XRP, as well as in related digital assets, securities, or futures tied to the index. At launch, the fund’s net asset value stood close to $40 million.
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Fees and Accessibility
Investors in XRPH11 face a global fee cap of 0.7 percent annually, covering administration, management, and distribution. A custody fee of up to 0.1% per year also applies. There are no initial structuring fees.
This fee structure aims to keep costs transparent and competitive for institutional and sophisticated investors looking to add crypto exposure to their portfolios via B3.
Hashdex’s Growing ETF Suite
With the XRP ETF now live, Hashdex’s lineup on B3 has grown to nine products. Samir Kerbage, Hashdex’s chief investment officer, noted that XRPH11 joins a group of mono-asset ETFs, including those for Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11).
XRP’s Price Actions
At the time of the ETF launch, XRP traded at $2.21, marking a slight 0.36% rise in the past 24 hours. Its global market capitalization reached $129.12 billion, though trading volume over the same period dipped by nearly 15%.
The ETF’s introduction gives Brazilian investors a new avenue to track XRP’s value without directly buying or storing the token.
Ripple’s Cross-Border Push
This milestone follows Ripple’s recent partnership with Unicâmbio, Portugal’s oldest currency exchange.
Together, they aim to enable instant crypto-based payments between Brazil and Portugal through the Ripple Pay platform. The collaboration highlights Ripple’s ongoing effort to streamline global remittances using blockchain technology.
The debut of Brazil’s XRPH11 ETF marks a significant step in blending traditional finance with digital assets. By offering a regulated, accessible vehicle for XRP exposure, Hashdex and Genial Investments have opened doors for institutional investors to diversify into cryptocurrencies through their local exchange.
As Brazil’s crypto ecosystem matures, this precedent may inspire other markets to explore similar products, further bridging the gap between legacy finance and innovative blockchain solutions.
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