- Brazil has made history by launching the world’s first spot XRP ETF, Hashdex Nasdaq XRP Fundo de Índice (XRPH11), on the B3 Exchange.
- The launch follows regulatory approval from Brazil’s CVM and coincides with Ripple’s legal victory and settlement with the U.S. SEC after a four-year battle.
According to a press release from Valor Econômico, Brazil has taken a groundbreaking step in the cryptocurrency world by launching the first-ever spot XRP exchange-traded fund (ETF), offering investors direct exposure to Ripple’s native token.
Trading under the ticker XRPH11, the fund began operations on April 25 on Brazil’s primary stock exchange, B3.
The new ETF, officially named Hashdex Nasdaq XRP Fundo de Índice (FI), is managed by Brazilian asset manager Hashdex and administered by Genial Investments Securities Brokerage SA, with Genial Bank SA serving as custodian.
It mirrors the XRP Reference Price Index (NQXRP), providing real-time tracking of XRP’s spot price across major cryptocurrency exchanges.
As earlier reported, Regulatory approval for XRPH11 came earlier this year from Brazil’s Securities and Exchange Commission (CVM), marking another important milestone following the approval of Hashdex’s spot Solana ETF in 2023. After a brief pre-operational phase, the fund has now fully launched, boasting a net worth close to $40 million.
At least 95% of XRPH11’s net assets are allocated to XRP and related assets, ensuring tight correlation to the underlying cryptocurrency. The ETF also features a competitive fee structure, with a maximum annual fee of 0.7% for administration, management, and distribution, plus a custody fee capped at 0.1%. Notably, there are no structuring fees imposed on investors.
With this latest launch, Hashdex continues to expand its footprint in Brazil’s crypto investment market, now offering a total of nine crypto ETFs on B3. Samir Kerbage, Chief Investment Officer at Hashdex, highlighted that XRPH11 complements the firm’s existing lineup of mono-asset ETFs tied to Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11). These offerings aim to meet the growing demand from institutional investors seeking regulated exposure to digital assets.
Brazil’s bold move positions it at the forefront of crypto innovation, especially as anticipation builds in the United States, where the SEC is currently reviewing applications for spot Solana and XRP ETFs.
This landmark launch also comes at a pivotal time for Ripple, following the conclusion of its four-year legal battle with the U.S. Securities and Exchange Commission. After being sued in December 2020 over allegations of conducting an unregistered securities offering, Ripple achieved a partial legal victory in July 2023.
A U.S. judge ruled that XRP sales to institutional investors violated securities laws, while sales to the public did not. In March 2025, Ripple and the SEC finally reached a settlement, with Ripple agreeing to pay $50 million and the remaining $75 million of a previously imposed fine being returned.
With regulatory clarity improving and innovative financial products like XRPH11 coming to market, XRP’s path to broader institutional adoption appears stronger than ever.