#XRPETF XRP launches first in Brazil

In a major victory for the XRP community, Brazil's B3 stock exchange has launched the world's first XRP ETF. The fund is named XRPH11, managed by Hashdex and Genial Investimentos.

It will track the Nasdaq XRP Reference Price Index, making it easier for investors to access XRP safely and in a regulated manner.

According to Hashdex, the ETF will invest at least 95% of its assets directly in XRP or in other products such as futures contracts that replicate the price movements of XRP. This setup allows both retail and institutional investors to invest in XRP without needing to own or store cryptocurrency.

Brazil moves forward, the United States is still waiting

Interestingly, this major advancement is taking place in Brazil, not in the United States, where Ripple is headquartered. In the U.S., companies like Grayscale and Franklin Templeton have applied for XRP ETFs, but they are still awaiting SEC approval.

Meanwhile, demand for XRP-related investment products is rapidly increasing. As of April 18, XRP-focused ETPs had approximately $950 million in assets under management, according to CoinShares. Just last week, XRP funds saw $37.7 million in new money, leading all other cryptocurrency funds.

Even greater things may be ahead. Earlier this year, JPMorgan predicted that XRP products could bring in up to $8 billion — nearly eight times the current amount.