- Hashdex launched the world’s first spot XRP ETF, XRPH11, on Brazil’s B3 exchange, tracking the Nasdaq XRP Reference Price Index.
- This historic move strengthens Brazil’s crypto leadership and pressures U.S. regulators to approve similar crypto investment products.
In a groundbreaking move for the cryptocurrency world, Brazil has become the first country to launch a spot XRP exchange-traded fund (ETF). On April 25, 2025, Hashdex Asset Management debuted the Hashdex Nasdaq XRP Fund de Índices (ticker: XRPH11) on the B3 stock exchange, offering investors direct exposure to XRP, the third-largest cryptocurrency by market capitalization.
The new ETF closely tracks the Nasdaq XRP Reference Price Index, reflecting XRP’s real-time spot price across major crypto exchanges. Hashdex, in partnership with Genial Investimentos, ensures that at least 95% of the fund’s assets are invested in XRP and related instruments, such as futures contracts and securities.
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Approval from Brazil’s Securities and Exchange Commission (CVM) in February 2025 paved the way for this historic launch. It follows Hashdex’s successful introduction of a Solana spot ETF in 2024, reinforcing the asset manager’s strategy to diversify its crypto investment offerings, which already include Bitcoin and Ethereum ETFs.
Investors in the XRPH11 ETF will encounter a 0.7% annual management fee and a 0.1% custodian fee. This competitive fee structure is designed to attract both institutional and retail investors seeking broader exposure to digital assets through regulated products.
The launch of the world’s first spot XRP ETF has reverberated beyond Brazil, putting significant pressure on U.S. regulators. Despite XRP’s American origins and Ripple’s recent resolution of its long-running battle with the U.S. Securities and Exchange Commission (SEC), the U.S. has yet to approve a spot XRP ETF.
Analysts from JPMorgan predict that if the SEC greenlights spot XRP and Solana ETFs, it could drive up to $14 billion in new investments. Major players like Grayscale and Franklin Templeton have already filed applications, signaling growing momentum.
By pioneering the first spot XRP ETF, Brazil is cementing its status as a rising global hub for crypto innovation. Hashdex’s latest move not only expands its crypto ETF portfolio but also highlights the growing international competition in the race to unlock institutional investment in digital assets.
