Brazil’s Crypto Coup: XRP’s ETF Party Starts Here 🎉💸

by

So Brazil, that carnival-loving, soccer-obsessed land, just decided to spice things up by becoming the inaugural country to launch a spot XRP ETF. Because why settle for samba and beaches when you can dive headfirst into crypto chaos?

This isn’t your run-of-the-mill ETF; it’s directly tethered to XRP, the digital currency born from Ripple’s dream of instant, cheap international payments. They’re tracking the XRP Reference Price Index (NQXRP) — basically the crypto crystal ball that shows you real-time prices, plucked straight from the glittering digital bazaars of top exchanges.

Hashdex, the financial wizards behind this, got Brazil’s Securities and Exchange Commission (CVM) thumbs-up back in February. After a brief rehearsal phase—because even crypto needs a dress rehearsal—this fund strutted onto the trading floor like it owned the place.

🚀 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.

— Hashdex (@hashdex) April 25, 2025

According to the paperwork nobody reads, 95% of this ETF’s treasure chest is either XRP or something suspiciously linked to it. XRPH11 is already worth nearly $40 million, proving that even digital money can bulk up without a gym membership.

If you’re wondering about the fees—because someone always wonders—there’s a tidy 0.7% annual toll for management and admin, plus a custody fee cap at 0.1%. No hidden structural fees lurking in the shadows. How quaint.

With this, Hashdex broadens its crypto buffet on Brazil’s B3 exchange, now offering nine ETFs including those spicy Bitcoin (BITH11), Ethereum (ETHE11), and Solana (SOLH11) dishes – mostly designed for the pros who prefer their crypto seasoned with a dash of regulation.

Samir Kerbage, the official “We-make-crypto-easy” guy at Hashdex, insists they’re all about giving institutions a smooth, safe jump into the volatile crypto pool. Because nothing says “safe” like a market known for rollercoaster prices and memes.

Meanwhile, across the equator and an ocean away, the U.S. watches with envy (and maybe a bit of FOMO). Analysts whisper that if American regulators give the nod, similar spot XRP and Solana ETFs could pull in a staggering $14 billion, proving that crypto fever is catching faster than a Brazilian carnival dance.

In the end, Brazil’s bold move says loud and clear: when it comes to digital finance, they’re ready to samba with the future—fees, risks, and all. 🕺💃

Read More

2025-04-26 13:25