- Hashdex launches the world’s first spot XRP ETF in Brazil.
- XRPH11 offers secure XRP investment on B3 exchange.
Hashdex, in partnership with Genial Investimentos, has made history by launching the world’s first spot XRP exchange-traded fund (ETF) on April 25. The new ETF is listed under the ticker symbol XRPH11 on Brazil’s B3 stock exchange. It is designed to track the Nasdaq XRP Reference Price Index. In addition, this fund invests at least 95% of its net assets into XRP, which ranks among the world’s leading cryptocurrencies.
Hashdex Expands Global Reach with New XRP ETF on B3 Exchange
Importantly, the Brazilian stock market reached a new important achievement with this recent launch. The new platform XRPH11 enables authorized investors to buy XRP through a regulated and secure system. XRP provides users with quick and inexpensive global payment functions. The ETF possesses the potential to draw numerous investors who wish to invest in digital assets.
In February, the Brazilian Securities and Exchange Commission (CVM) gave its approval for Hashdex to launch what stands as the world’s first XRP spot ETF. The regulatory approval opened doors for the industrial product to be launched. Hashdex released its ETF, although B3 failed to announce the date of the product’s listing upon its initial approval by CVM.
Meanwhile, Hashdex continues to grow its business operations across international markets. In mid-March, Hashdex submitted an application to the U.S. Securities and Exchange Commission (SEC) for expanding its cryptocurrency index ETF. The company plans to add XRP along with Cardano (ADA), alternative coins to its investment pool. This move is due to the increasing demand for investment choices that include different cryptocurrencies.
The company has also developed multiple investment approaches to give investors access to XRP. The company utilizes various methods to invest in XRP, such as possession of XRP directly or indirectly, or derivatives that track index performance alongside instruments that use Nasdaq’s benchmarks to monitor XRP’s price movements.
The latest launch contributes to Hashdex’s growing number of single-asset ETFs which operate on the B3 exchange. Hashdex operates three existing ETFs that track Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). The addition of XRPH11 enables Hashdex to expand its dedication for giving investors diverse digital asset investment opportunities.
Hashdex’s XRPH11 Opens New Doors for Crypto Investors
According to CoinMarketCap, XRP is currently the fourth-largest cryptocurrency by market capitalization. The total worth of XRP currently amounts to US$128.4 billion. Ripple developed XRP for its primary purpose as an exchange instrument that focuses on international payment processing.
Interestingly, there is no existing XRP Exchange-Traded Fund (ETF) within the United States despite Ripple choosing America to serve as its organizational headquarters. The U.S. SEC faces multiple proposals from asset management firms Grayscale and Bitwise to establish XRP ETFs despite not approving any so far. The regulatory bodies have not given approval to any XRP-based product.
Hashdex CIO Samir Kerbage showed great excitement about the brand-new product launch. The ninth ETF created by Hashdex now trading on B3 exchange is known as XRPH11. Mr. Kerbage stated the ETF enhances investor access to diversified portfolios that contain secure investments within the digital asset space. Hashdex maintains firm dedication toward maintaining clear regulations and ensuring security in all operations.
He also highlighted that XRPH11 belongs to Hashdex’s collection of single-asset funds. The existing ETFs in this line include BITH11 (Bitcoin), ETHE11 (Ethereum) and SOLH11 (Solana). The ETFs aim to cater to advanced investors who maintain their investments on the B3 platform.
Ultimately, Hashdex achieved a significant milestone for the cryptocurrency investment world through its revolutionary introduction of the first-ever spot XRP ETF. The product provides fresh opportunities for investors from Brazil and worldwide who want to investigate the expanding digital economy in a protected framework with regulatory oversight.
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