Brazil Launches World’s First Spot XRP ETF, XRPH11
Brazil is now home to the world’s first spot XRP ETF, marking a historic moment not just for the country but for XRP investors worldwide. The fund, named XRPH11, began trading on April 25 on Brazil’s leading stock exchange, B3, and is managed by Genial Investimentos, with Hashdex serving as the issuer.
While the U.S. continues to drag its feet on regulatory approvals, Brazil has once again taken the lead in the digital asset race. After previously introducing the first Solana ETF, Brazil now claims another milestone with XRPH11 — giving XRP a regulated, tradable investment vehicle directly tied to its real-time market price.
This development comes as Ripple’s XRP token gains momentum. At the time XRPH11 went live, XRP’s price saw a boost, fueled by both investor optimism and increased institutional interest. The timing is no coincidence — the arrival of XRPH11 aligns perfectly with a global push for crypto-backed investment products, especially among institutional players seeking safe, regulated exposure.
XRPH11 is built to track the Nasdaq XRP Reference Price Index and holds at least 95% of its assets in XRP — either through direct holdings, futures contracts, or related instruments. While detailed volume figures haven’t been released yet, the ETF is fully operational and visible on the B3 exchange.
Hashdex, which has already introduced ETFs for Bitcoin, Ethereum, and Solana, now adds XRPH11 to its expanding lineup, marking its ninth crypto ETF product on Brazil’s stock exchange. This move strengthens Hashdex’s positioning in Latin America’s growing digital asset space and reflects the increasing appetite for diverse crypto investment tools.
Speaking about the new fund, Hashdex CIO Samir Kerbage highlighted its focus on institutional investors. According to Kerbage, XRPH11 is designed specifically for professional and sophisticated market participants who want access to crypto markets within a structured and regulated environment. He stressed that the fund emphasizes transparency, regulation, and investor protection — all critical factors for institutional adoption.
Globally, XRP-focused ETFs currently account for roughly $950 million in assets under management. However, this could just be the beginning. A recent CoinShares report noted that XRP-related funds attracted $37.7 million in inflows last week alone — more than any other crypto exchange-traded product during that time. JPMorgan analysts have gone further, projecting that XRP ETFs could ultimately bring in up to $8 billion in net inflows.
That said, XRPH11’s true potential depends not only on demand in Brazil but also on how effectively it can capture international interest. Although Brazil’s crypto ETF market is one of the fastest growing, it still represents just 0.9% of global crypto ETP assets. To reach the projected $8 billion mark, XRP ETFs like XRPH11 will need backing from larger global players and perhaps even eventual approval in markets like the United States.
While the move is a major win, it does not guarantee success. Brazil’s Solana ETF, which made headlines last year, failed to gain significant traction after going live. If XRPH11 follows a similar path, the short-term price impact on XRP could be minimal, or even negative.
However, broader optimism is building. Many in the crypto community believe a U.S.-based XRP ETF is not far off. According to the prediction platform Polymarket, there’s currently a 74% chance that the United States will approve a spot XRP ETF sometime in 2025. If that happens, XRPH11 could be seen as the pioneer that paved the way for mainstream XRP adoption through regulated financial channels.
In summary, the arrival of XRPH11 in Brazil sets a new benchmark in the crypto ETF landscape. It offers institutional investors a direct path to XRP exposure while placing Brazil firmly on the global crypto map. As the world watches and waits for other countries — especially the U.S. — to follow suit, this could be the fuel that turns XRP from a speculative altcoin into a staple of institutional crypto portfolios.
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