XRP Exchange-Traded Fund Launches in Brazil

The trading of an ETF for XRP named XRPH11 has begun 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 stock exchange.

Brazil also made history by approving the first Solana ETF last year. The trading volume of XRPH11 is not yet known, but it could pave the way for such approvals in the US 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 ETFs 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 line of individual asset funds, such as the BITH11, ETHE11, and SOLH11 ETFs. These funds focus on advanced investors, such as institutional investors looking to build cryptocurrency portfolios on B3," said Samir Karbage, the Chief Investment Officer at Hashdex, in a statement to local media.