#XRPETF

Hashdex launches the first XRP ETF in Brazil.

The world's first XRP ETF is launched on the B3 stock exchange in Brazil. Hashdex launched the product on Friday after initial approval from regulators in February.

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The world's first XRP ETF is launched on the B3 stock exchange in Brazil.

Hashdex had received regulatory approval in February to launch the fund.

Meanwhile, in the U.S., investors continue to wait for altcoin ETFs.

XRP is trading at USD $2.19 after the milestone in Latin America.

The first exchange-traded fund (ETF) of spot XRP has just debuted in Brazil. Fund manager Hashdex announced on Friday the launch of what it has identified as the world's first spot XRP ETF.

Under the symbol XRPH11, the product debuted on Brazil's B3 stock exchange, offering local traders a regulated investment vehicle designed to provide direct exposure to the world's fourth-largest cryptocurrency.

“XRPH11 – The world's first XRP ETF. Another milestone on the Brazilian stock market!“, wrote the Hashdex team on their X account. “Hashdex has just launched XRPH11, providing investors with safe and regulated access to $XRP, one of the leading #crypto assets focused on fast and low-cost international payments“.

The launch comes after the Comissão de Valores Mobiliários (CVM), the securities regulator of Brazil, formally approved the application to list and trade the ETF with exposure to XRP on the local stock exchange in February.

Hashdex's ETF tracks the Nasdaq XRP Reference Price Index and allocates 100% of its net assets to XRP.

According to the prospectus, the fund will invest at least 95% of its assets in XRP, through direct and/or indirect investment in the cryptocurrency. It is managed by the brokerage Genial Investments, with Banco Genial as its custodian.