Brazil launches first XRP ETF with $40 million assets

Brazil has become the first country to introduce a spot XRP (CRYPTO:XRP) exchange-traded fund (ETF), providing investors regulated and direct exposure to the cryptocurrency.

The ETF, managed by asset manager Hashdex, debuted on April 25 on Brazil’s B3 stock exchange under the ticker XRPH11. It tracks XRP’s price using the Nasdaq XRP Reference Price Index.

Approved by Brazil’s Securities and Exchange Commission (CVM) in February, the fund invests at least 95% of its assets in XRP through futures contracts, securities, and other instruments linked to the index.

Fund management is handled by Genial Investimentos, while Genial Bank SA acts as custodian. The ETF charges an annual fee of 0.8%, including 0.7% management and 0.1% custodian fees, with no structuring fees.

This launch marks Hashdex’s ninth cryptocurrency ETF on the B3 exchange, joining products tracking Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and Solana (CRYPTO:SOL), reflecting Brazil’s growing openness to crypto investments.

XRP, created by US-based Ripple, is the third-largest cryptocurrency by market capitalisation, valued at over $120 billion.

Despite XRP’s prominence, the United States has yet to approve a spot XRP ETF, although leveraged XRP ETFs have recently launched and major asset managers like Grayscale and Franklin Templeton have filed for spot XRP ETFs amid improving regulatory conditions.

The Brazilian ETF launch increases pressure on US regulators to approve similar products, especially as the Trump administration aims to make America the “crypto capital of the world.”

According to analysts, the probability of US approval for XRP spot ETFs is currently around 73%.

Hashdex’s XRP ETF offers Brazilian investors a new, regulated way to gain exposure to XRP without directly holding the cryptocurrency, marking a milestone in crypto adoption within mainstream financial markets.

At the time of reporting, the XRP price was $2.28.