Brazil has officially launched the first-ever spot XRP exchange-traded fund (ETF), solidifying its role as a global leader in crypto finance. The Hashdex Nasdaq XRP Fundo de Índice (XRPH11) started trading on April 25 on the B3 Exchange, the country’s largest stock market.

The ETF, managed by Hashdex and administered by Genial Investments, allows investors regulated access to XRP without needing to directly custody digital assets.

Brazil’s Securities Regulator Approves New Crypto Milestone

The Brazilian Securities and Exchange Commission (CVM) approved XRPH11 in February 2025, reflecting the regulator’s growing support for crypto financial products. This follows Brazil’s earlier approval of the spot Solana ETF (SOLH11) managed by Hashdex.

XRPH11 closely tracks the XRP Reference Price Index (NQXRP), with 95% of its holdings invested in XRP and closely associated financial instruments.

The ETF debuts with approximately $40 million in assets under management, offering investors low fees—capped at 0.7% annually for administration and management, and 0.1% for custody.

Hashdex’s Growing Crypto ETF Family

XRPH11 joins Hashdex’s expanding family of crypto ETFs listed on the B3 exchange. Other single-asset products include funds linked to Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11).

Samir Kerbage, CIO at Hashdex, emphasized that the new fund aligns with the firm’s mission to bring secure, regulated blockchain investment opportunities to mainstream investors across Latin America.

Ripple’s SEC Battle Ends, Opening New Doors for XRP

The XRP ETF launch coincides with a major turning point for Ripple. After more than four years of litigation, Ripple and the SEC settled their dispute in March 2025. The settlement significantly reduced Ripple’s civil penalty and effectively ended appeals from both sides.

The legal clarity around XRP has already begun to spark new investment interest globally. Brazil’s XRPH11 is the first of what many expect will be a series of XRP investment products worldwide as regulators adapt to a maturing crypto market.

Conclusion: Brazil Sets the Stage for the Future of Crypto ETFs

Brazil’s introduction of XRPH11 shows that robust regulation and crypto innovation can coexist. As the U.S. SEC continues to deliberate on spot XRP and Solana ETF applications, Brazil has pulled ahead, offering investors first-mover access to one of the most traded digital assets in the world.

Hashdex’s latest launch positions Brazil not just as a regional player, but as a global innovator in regulated cryptocurrency investment.