#XRPETF
Is there an XRP ETF?
The world's first exchange-traded fund tracking the spot price of XRP, the original cryptocurrency of Ripple, was officially launched on the main Brazilian stock exchange B3 on April 25, according to a press release from Valor Econômico.
Brazil was the first country to launch a series of XRP ETFs, unlike any other country, including the United States.
Hashdex's XRP ETF was listed on B3, a Brazilian exchange that enables investors to track the price of XRP directly.
U.S. asset managers are pushing for XRP exchange-traded funds as political changes enhance the likelihood of approval.
Brazil achieved a major milestone by successfully being the first country to offer an exchange-traded fund for XRP (ETF). Hashdex, a Brazilian asset manager, added the Hashdex SPOT ETF to B3, the largest exchange market in Latin America, under the ticker XRPH11 on April 25.
The new ETF is linked to the NASDAQ XRP reference price index, which provides Brazilian investors with a new way to invest in XRP through an exchange-traded vehicle. Genial Investimentos will be the platform through which the fund will operate, and Genial Bank SA will act as the fund's custodian. Hashdex intends to invest at least 95% of the fund's value in XRP through futures, securities, and other means. $XRP
Although XRP originates from the United States, the country has not recognized it.