Brazil has launched the first spot XRP investment fund.
This fund holds 95% XRP in its portfolio by tracking the XRP price index. Global regulatory processes shape the approval processes for funds by influencing investor demands.
Brazil has taken a pioneering step in crypto asset management by launching the first spot XRP investment fund managed by Hashdex on the B3 exchange platform. The fund was announced to track the Nasdaq XRP Reference Price Index and was launched with approximately $40 million in net assets. This investment fund, presented under the name "Hashdex Nasdaq XRP Fundo de Índice" (XRPH11), is required to invest 95% in XRP and similar products. An annual fee of up to 0.7% is charged for fund management, while no additional fees are charged for separation processes. The Brazilian Securities and Exchange Commission approved the fund's operation approximately two months ago.
While the approval process for similar funds in the U.S. is not yet complete, Brazil's leap in this area has made it stand out. The U.S. Securities and Exchange Commission's delay in approving spot fund applications for XRP and Solana has increased investor interest, while analysts state that approved funds could accelerate new investment flows.
The fund tracks the real-time price of XRP through the Nasdaq XRP Reference Price Index, and Banco Genial has been tasked with providing security services. This step may contribute to the diversification of alternative investment vehicles for institutions interested in crypto assets.
Hashdex CIO Samir Kerbage stated, "XRPH11 expands the product portfolio for institutions aiming to create crypto strategies in the local financial system by adding it to the company's mono-asset portfolio."
Hashdex has a total of nine crypto asset investment funds traded on B3. In addition to products like Bitcoin, Ethereum, and Solana, the XRP investment fund is also included in the portfolio. This diversity aims to attract institutional investors' interest in the cryptocurrency market.
Researchers emphasize that Brazil's step in this field could allow similar practices to increase in other countries. The attitudes of regulatory institutions and investor demands could shape the future of the global digital asset market.
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