In a bold leap into uncharted financial territory, Hashdex has launched the world’s first spot XRP ETF, dubbed XRPH11, on Brazil’s B3 stock exchange as of April 25, 2025.
Picture the buzz in São Paulo’s financial district—traders huddled over screens, the sharp click of keyboards echoing, as this digital asset darling makes its debut.
It’s a moment of pure innovation, yet there’s a whisper of doubt in the air.
A groundbreaking stride forward, yet a faint shadow of uncertainty lingers in the electric atmosphere of this financial frontier.
Can a cryptocurrency like XRP, often seen as a wild card, truly blend into the staid world of regulated markets?
Hashdex, a pioneer since 2018, seems to think so, and Brazil’s crypto-friendly vibe is the perfect stage.
This isn’t just a random gamble.
XRPH11, managed by Hashdex with Genial Investimentos as administrator, tracks the Nasdaq XRP Reference Price Index, pouring at least 95% of its assets into XRP through direct holdings or futures.
It’s precise, almost surgical, in its aim to mirror the index.
With a net worth nearing $40 million already, and fees capped at a lean 0.8% annually, it’s built for efficiency.
Yet, there’s irony in how this cutting-edge fund sits on the same B3 exchange as old-school stocks, like a punk rocker at a black-tie gala.
Will traditional investors bite?
Brazil’s regulators gave the green light back in February 2025, a nod that contrasts sharply with the U.S.’s sluggish pace on similar products.
This early approval highlights Brazil’s progressive stance on crypto investments, positioning it ahead of global giants like the U.S. in the race for regulated digital assets Brazil’s progressive stance.
It’s Hashdex’s ninth crypto ETF on B3, joining the likes of Bitcoin’s BITH11 and Solana’s SOLH11.
Targeting sophisticated investors, XRPH11 offers a regulated gateway to crypto’s wild frontier, promising transparency amidst the digital dust storms.
Still, one can’t help but smirk at the thought of institutional suits diving into XRP’s rollercoaster ride—imagine their polished loafers tapping nervously under mahogany desks.
The market potential dazzles, with global XRP funds pulling in $37.7 million recently and forecasts hinting at $8 billion in inflows.
Yet, Brazil holds just 0.9% of crypto ETP assets.
Can XRPH11 spark a global flame from this small ember?
As screens glow green with trades, the jury’s still out, but the thrill of the unknown crackles like static in the trading halls.
Hashdex’s strategic move further solidifies its position as a leader in crypto ETFs, with XRPH11 being a pioneering step in Latin America’s digital asset market pioneering step.
