An XRP ETF dubbed XRPH11 began trading in Brazil today, making it the first such product in the world. The ETF, issued by Hashdex, is being traded on Brazil’s B3 stock exchange.

XRPH11 is designed to track the Nasdaq XRP Reference Price Index and allocates at least 95% of its assets directly or indirectly to XRP. This includes a mix of spot XRP holdings, futures, and other crypto-related instruments. Although the exact trading volume hasn’t been publicly disclosed yet, XRPH11 is already active and listed on B3’s website.

Brazil’s rapid approval and launch highlight a more crypto-friendly stance compared to the U.S., where regulatory hurdles continue to delay similar products. Notably, Brazil also made headlines last year by introducing the first Solana ETF.+

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