$XRP

Brazil has achieved a major milestone, having recorded the success of being the first country to introduce a spot XRP exchange-traded fund (ETF). Brazil’s leading asset manager, Hashdex, added the XRP spot ETF to the B3, Latin America’s largest exchange market, under the symbol XRPH11 on April 25.

The new ETF is tied to the Nasdaq XRP Reference Price Index, which provides Brazilian investors with a new way to invest in XRP through an exchange-traded instrument. Genial Investimentos will be the platform through which the fund will be operated, and Genial Bank SA will act as the fund’s custodian. Hashdex intends to invest at least 95% of the value of the fund in XRP through futures, securities, and other means.