#XRPETF
The South American giant moves forward and launches the XRPH11, a pioneering investment vehicle focused on Ripple's digital currency.
The universe of digital assets has witnessed a significant development. Last Friday, April 25th, the Brazilian market welcomed the XRPH11, the inaugural ETF (exchange-traded fund) of XRP with international reach, a move that positions Brazil at the forefront of crypto financial innovation.
XRP
2.2579
+3.73%
This pioneering instrument, which already trades on the stock exchange under the symbol XRPH11, is the result of a strategic alliance between Hashdex, a renowned asset manager specialized in the crypto ecosystem, and the firm Genial Investimentos. Together, they have materialized the first fund of its kind in the world dedicated to XRP.
The central objective of this new ETF is to leverage the potential of XRP to optimize the efficiency of cross-border payments, using robust blockchain technology as a pillar.
With a defined investment policy, the XRPH11 commits to allocating at least 95% of its assets directly to XRP or through derivative instruments such as futures contracts.
This launch takes on particular relevance when considering the global regulatory landscape. While Brazil celebrates this advancement, the United States, the home country of Ripple (the company behind XRP), has yet to give the green light to an XRP ETF through its Securities and Exchange Commission (SEC).
