The world's first XRP exchange-traded fund begins trading in Brazil

Brazil launches the world's first XRP exchange-traded fund, XRPH11, on the B3 exchange, marking a milestone in the cryptocurrency market.

The exchange-traded fund, managed by Hashdex, targets institutional investors with 95% of assets invested in XRP, either directly or indirectly.

Brazil's rapid launch in the market and swift approval contrast with the slower regulatory progress in the United States, highlighting the country's advanced position in the field of cryptocurrencies. The ETF for XRP, named XRPH11, started trading in Brazil today, making it the first product of its kind in the world. The fund, issued by Hashdex, is traded on the Brazilian B3 exchange.

Brazil also made history by approving the first Solana ETF last year. The trading volume of XRPH11 is not yet known, but it could pave the way for such approvals in the U.S. market.

Launch of the XRP exchange-traded fund in Brazil