Global Adoption

Brazil Becomes First Country to Launch Spot XRP ETF

Brazil has become the first country to launch a spot XRP exchange-traded fund (ETF), marking another big milestone for the country in the crypto space. The new ETF, XRPH11, began trading on April 25, 2025, on B3, Brazil’s main stock exchange. It was created by Hashdex, one of the country’s top digital asset managers, and is handled by Genial Investimentos. Genial Bank is in charge of custody.
This move makes Brazil the first country to offer a spot ETF directly tied to XRP, the cryptocy developed by Ripple. The ETF tracks the XRP Reference Price Index (NQXRP), which reflects real-time prices from top crypto exchanges. Hashdex received approval from Brazil’s Securities and Exchange Commission (CVM) back in February. Before launching, the fund went through a pre-operational phase to get everything ready for trading. According to official documents, at least 95% of the ETF’s assets will be invested in XRP or financial products tied to XRP. As of now, XRPH11 is worth close to $40 million.

The ETF charges an annual fee of up to 0.7% for management and administration, and a custody fee capped at 0.1%. Unlike many other funds, there are no structuring fees attached. With XRPH11, Hashdex has expanded its crypto ETF lineup to nine products on B3, including funds linked to Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11). These ETFs mainly target professional investors looking to build regulated crypto strategies inside Brazil.

Speaking about the launch, Samir Kerbage, Hashdex’s Chief Investment Officer, said the company aims to offer simple and secure ways for institutions to access crypto markets. Meanwhile, in the United States, hopes are rising for similar spot XRP and Solana ETFs, with analysts predicting they could attract up to $14 billion if approved. For now, Brazil is leading the way, proving once again it’s not afraid to take bold steps in the world of digital finance.

Terron Gold

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