#XRPETFs Brazil, Stock Exchange, Over-the-Counter (B3), the Brazilian Stock Exchange, announced this Friday (25) the initial listing of XRPH11, the world's first exchange-traded fund (ETF) linked to XRP, the token from the international transfer company based on blockchain, Ripple.
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Approved in February by the Securities and Exchange Commission (CVM), the fund is managed by the Brazilian asset manager specializing in crypto, Hashdex, and is administered by Genial Investimentos. XRPH11 replicates the Nasdaq XRP Reference Price Index.
According to B3, XRPH11 will invest at least 95% of its assets in XRP through direct or indirect investment in the crypto asset, in futures contracts that aim to replicate the profitability of the index and/or other forms of investment that reflect the Nasdaq XRP Reference Price Index.
According to Hashdex's CIO, Samir Kerbage, the ninth ETF launched by the manager on B3 expands the possibilities for diversification and exposure to digital assets with security, transparency, and alignment with regulatory guidelines.
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“XRP11 integrates the line of single-asset funds from Hashdex, such as the ETFs BITH11, ETHE11, and SOLH11. The focus of these ETFs is sophisticated investors, such as institutions looking to build crypto asset portfolios on B3,” he stated.
Data from the XRPH11 page indicated that the ETF was being sold for R$ 19.76 per intraday share. The net assets amount to R$ 551,217,650 with a maximum custody fee of 0.10% per year and a 0.7% management fee.
Globally, other managers are eyeing the launch of ETFs based on the amount of cryptocurrency in market capitalization, currently at $128.71 billion at the time of this edition. In Hong Kong, for example, the crypto investment company HashKey Capital recently announced the launch of an XRP fund, with plans.
