First Spot XRP ETF Issued by Hashdex Begins Trading in Brazil
By Gino Matos, CryptoSlate
April 25, 2025 – Updated at 9:51 PM UTC
The world’s first spot exchange-traded fund (ETF) linked to XRP, issued by Hashdex and managed by Genial Investimentos, has officially commenced trading on Brazil’s stock exchange, B3, as of April 25, 2025. This significant milestone for the cryptocurrency market indicates a growing interest in digital assets within the traditional finance sector.
ETF Details and Structure
The newly launched ETF, designated under the ticker XRPH11, tracks the Nasdaq XRP Reference Price Index. Hashdex has outlined its investment strategy, stating that a minimum of 95% of the ETF’s net assets will be allocated directly to XRP. To provide market exposure, the fund may utilize direct or indirect holdings, including futures contracts and various financial instruments designed to mirror the performance of the index.
In total, XRPH11 represents Hashdex’s ninth ETF entry on the Brazilian exchange, enhancing its portfolio and expanding investor opportunities in the rapidly evolving cryptocurrency landscape. The asset manager aims to cater to sophisticated investors and institutions eager to diversify their portfolios using Brazil’s established equity market infrastructure.
Market Context and Predictions
As of April 18, XRP-related exchange-traded products (ETPs) had amassed approximately $950 million in assets under management (AUM), according to a report from CoinShares. Furthermore, XRP funds witnessed substantial demand, with the strongest weekly inflows among crypto-related ETPs last week, totaling $37.7 million.
Looking ahead, financial analysis from JPMorgan forecasts that XRP-linked products could attract up to $8 billion in net flows, representing a significant potential growth from current asset levels. However, it is important to note that Brazil’s share in the global AUM of crypto ETPs stands at just 0.9%, indicating that broad appeal and market reach are essential for XRPH11 to realize its growth ambitions.
Regulatory Considerations and Investor Appeal
Hashdex’s Chief Investment Officer, Samir Kerbage, expressed enthusiasm about the ETF’s launch, emphasizing its goal of improving investor access while adhering to regulatory standards concerning fund safety and transparency. By offering this innovative financial product, Hashdex seeks to position itself prominently within the dynamic intersection of traditional finance and digital assets.
The emergence of this first spot XRP ETF in Brazil not only reflects the growing acceptance of cryptocurrencies but also underscores the increasing regulatory alignment and infrastructure supporting their integration into mainstream finance.
Conclusion
The introduction of the XRPH11 ETF marks a pivotal moment in the cryptocurrency market, particularly for XRP enthusiasts and investors. With the potential to attract significant investment and bolster institutional participation in crypto assets, Hashdex’s latest venture may pave the way for further development of crypto-focused investment products both in Brazil and globally.
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