The world’s inaugural spot exchange-traded fund (ETF) dedicated to XRP, initiated by Hashdex and overseen by Genial Investimentos, made its debut on Brazil’s B3 stock exchange on April 25. The ETF, trading under the ticker XRPH11, mirrors the Nasdaq XRP Reference Price Index. Hashdex asserts that a minimum of 95% of the fund’s net assets will be directly allocated to XRP, marking the firm’s ninth ETF introduction on the Brazilian platform.
This groundbreaking ETF aims to replicate the index’s performance through direct or indirect holdings, futures contracts, or other financial instruments that accurately reflect the price of XRP, as established by Nasdaq’s benchmark. The launch broadens Hashdex’s portfolio of single-asset ETFs on B3, joining its existing lineup that includes Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Hashdex’s Chief Investment Officer, Samir Kerbage, highlighted the ETF’s mission to court sophisticated investors, such as institutions aiming to cultivate crypto portfolios within the framework of Brazil’s equity market. Kerbage further emphasized the ETF’s objective to enhance investor access while adhering to regulatory standards for fund safety and transparency.
### Expanding Market Reach
As of April 18, XRP-related exchange-traded products (ETPs) recorded an impressive $950 million in assets under management (AUM), with XRP funds experiencing the highest weekly inflows among their crypto ETP peers at $37.7 million. A projection by JPMorgan in January estimated that these products might see up to $8 billion in net inflows, significantly multiplying their current AUM.
Despite Hashdex’s pioneering move in this market, with Brazil accounting for just 0.9% of the global crypto ETP AUM, the XRPH11 ETF aims to garner international traction to achieve a substantial AUM and secure Hashdex a leading position in the competitive landscape.
Exciting times for digital asset investors in Brazil as Hashdex launches the first XRP-focused ETF on B3, expanding its suite of crypto investment products. #XRP #ETF #Brazil #Hashdex #Investment #CryptoNews
