Hashdex launched the world’s first XRP spot ETF on Brazil’s B3 exchange on April 25.
XRPH11 will invest at least 95% of its assets in XRP and related financial instruments.
XRP funds recorded the highest weekly inflows among crypto ETPs reaching $37.7 million last week.
The world’s first exchange-traded fund (ETF) directly tracking XRP officially launched on Brazil’s main stock exchange, B3, on April 25. The fund, named Hashdex Nasdaq XRP Fundo de Índice (Hashdex Nasdaq XRP FI), is managed by Hashdex and administered by Genial Investments Securities Brokerage SA.
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Genial Bank SA serves as the custodian of the ETF, ensuring secure handling of assets. This launch marks a significant step for crypto-related investment products in Latin America’s largest economy.
Regulatory Approval and Launch Timeline
Brazil’s Securities and Exchange Commission (CVM) granted approval for the XRP-tied ETF in February after previously approving Hashdex’s Solana ETF in August. Following approval, the fund entered a pre-operational phase where preparatory measures took place before active trading.
The ETF operates under the ticker XRPH11 while it follows the Nasdaq XRP Reference Price Index (NQXRP) for tracking purposes. The Nasdaq XRP Reference Price Index delivers transparent exchange prices of XRP on leading cryptocurrency platforms.
Investment Strategy and Fund Structure
XRPH11 operational funds from Hashdex need to hold at least 95% of their total net assets within XRP and its associated investment assets. The fund invests its assets into XRP and closely related financial instruments such as securities and futures contracts which track the XRP Reference Price Index.
As of the latest available data, XRPH11 holds an estimated net asset value of nearly $40 million. The fund carries a maximum global fee of 0.7% annually for administration, management, and distribution, plus a custody fee of up to 0.1% each year.
Expansion of Hashdex’s ETF Offerings
With the launch of XRPH11, Hashdex expands its suite of ETFs on B3 to nine distinct products. Other single-asset ETFs under Hashdex management include BITH11 for Bitcoin, ETHE11 for Ethereum, and SOLH11 for Solana.
The products cater to institutional investors who want to construct diverse crypto investment portfolios. The increased B3 presence strengthens Bitfarms Inc.'s role as a major establishment in the Latin American crypto market sector.
Market Response and Future Expectations
According to CoinShares, XRP-related exchange-traded products reported around $950 million in assets under management (AUM) as of April 18. XRP funds also led inflows among crypto-related ETPs last week, recording $37.7 million in new investments.
Analysts at JPMorgan project that spot XRP and Solana ETFs could attract up to $14 billion in net flows if approved in the United States. Although Brazil’s crypto ETP market represents just 0.9% of global AUM, Hashdex’s launch of XRPH11 could help grow international interest.
