Brazil Launches World’s First Spot XRP ETF on B3 Exchange

Brazil has made history by launching the world’s first exchange-traded fund (ETF) that tracks the spot price of XRP, Ripple’s native cryptocurrency.

The fund began trading on April 25 on Brazil’s primary stock exchange, B3, according to a press release from Valor Econômico.

Named Hashdex Nasdaq XRP Fundo de Índice (FI), the ETF is managed by Brazilian asset manager Hashdex and administered by Genial Investments Securities Brokerage SA, with Genial Bank SA serving as custodian.

The Brazilian Securities and Exchange Commission (CVM) approved the XRP-focused ETF in February, marking another milestone after its greenlight for Hashdex’s spot Solana ETF in August 2023.

Following regulatory approval, the fund entered a pre-operational phase before officially launching on the exchange under the ticker XRPH11.

The ETF mirrors the XRP Reference Price Index (NQXRP), which tracks the real-time spot price of XRP across major cryptocurrency exchanges.

According to fund documents, at least 95% of XRPH11’s net assets will be allocated to XRP and related digital assets, securities, or futures tied to the index.

The ETF currently reports a net worth close to $40 million.

XRPH11 – The world's first XRP ETF. Another crypto milestone on the Brazilian stock exchange!

Hashdex just launched XRPH11, giving investors secure and regulated access to $XRP — one of the leading #crypto assets focused on fast, low-cost international payments. pic.twitter.com/kpokQP5NM4

XRPH11 carries a competitive fee structure, including a maximum annual fee of 0.7% for administration, management, and distribution, along with a custody fee capped at 0.1% per year. The fund does not impose any structuring fees.

With this launch, Hashdex has expanded its crypto ETF offerings on B3 to nine products.

Samir Kerbage, Chief Investment Officer at Hashdex, said that XRPH11 joins the firm’s lineup of mono-asset ETFs, which includes products tied to Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11).

These funds are designed for institutional investors seeking exposure to digital assets through Brazil’s regulated markets.

As Brazil leads with the first XRP ETF, anticipation grows in the United States, where the SEC is reviewing applications for spot Solana and XRP ETFs.

The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has concluded after more than four years, marking a significant development in cryptocurrency regulation.​

In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that the company conducted an unregistered securities offering by selling XRP tokens, raising over $1.3 billion.

Ripple contested the claim, arguing that XRP is a digital currency, not a security.​

In July 2023, U.S. District Judge Analisa Torres delivered a mixed ruling: she determined that XRP sales to institutional investors violated securities laws, while sales on public exchanges did not.

Consequently, Ripple was ordered to pay a $125 million civil penalty. ​

In March 2025, Ripple and the SEC reached a settlement. Under the agreement, Ripple would pay $50 million of the previously imposed fine, with the remaining $75 million returned to the company.

Both parties agreed to drop their respective appeals, effectively ending the litigation.

The post Brazil Launches World’s First Spot XRP ETF on B3 Exchange appeared first on Cryptonews.