Brazil has become the first one with the first XRP ETF, and in the US, the SEC is still reviewing applications for spot Solana and XRP ETFs.
In February 2025, an XRP-focused ETF was approved by the Brazilian Securities and Exchange Commission (CVM) in the country. Brazil has recently launched its world’s first exchange-traded fund (ETF) to track the spot price of XRP. Valor Economico revealed through its press release that the major stock exchange of Brazil, B3, started trading funds on April 25.
Hashdex is the manager of the ETF named Hashdex Nasdaq XRP Fundo de Indice (FI), and Genial Investments Securities Brokerage SA and Genial Bank SA will be responsible for the administration and serving as custodian, respectively. In February 2025, an XRP-focused ETF was approved by the Brazilian Securities and Exchange Commission (CVM) in the country. Before this, in August 2023, the agency approved the spot Solana ETF of Hashdex.
The fund officially launched on B3 under the ticker XRPH11. The ETF reflects the XRP Reference Price Index (NQXRP), tracking the real-time spot price of XRP over different crypto exchanges. The funds document shows that around 95% of the net assets of XRPH11 will be sent to XRP and associated digital assets, securities, or futures linked with the index.
Hashdex Expands Its Crypto ETF Lineup
XRPH11 includes some features such as a competitive fee structure, with a maximum annual fee of around 0.7% for administration, management, and distribution, as well as a custody fee rounded off at 0.1% every year. Any structuring fee will not be charged at all.
This introduction has opened the doors to around nine products of Hashdex’s crypto ETF offerings on B3. The Chief Investment Officer at Hashdex, Samir Kerbage, revealed that XRPH11 has joined the lineup of the company’s mono-asset ETFs, consisting of products linked with Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11).
The funds are made mainly for institutional investors looking for exposure to virtual assets by the regulated markets of Brazil. The nation has become the first one with the first XRP ETF, and in the US, the SEC is still reviewing applications for spot Solana and XRP ETFs.