$XRP

The world's first XRP exchange-traded fund begins trading in Brazil🇧🇷 The XRP ETF, 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 may pave the way for such approvals in the U.S. market🌐🇺🇸

Launch of the XRP exchange-traded fund in Brazil

Hashdex first received approval to trade this XRP ETF in Brazil in February. Although the company has pursued several cryptocurrency ETF funds in the United States, it recognized Brazil as a potential focus area about two years ago.

Today, Hashdex's efforts are bearing fruit, as announced by B3 earlier.

"XRPH11 is part of Hashdex's individual asset fund line, such as the BITH11, ETHE11, and SOLH11 ETFs. These funds are aimed at advanced investors, such as institutional investors looking to build cryptocurrency portfolios on B3," said Samir Karbage, the executive director of investment at Hashdex, in a statement to local media. XRPH11 will invest at least 95% of its assets in XRP, although it will consist of direct holdings. #XRPX11 #XRPUSDT🚨