On April 25, 2025, Hashdex launched the world's first XRP spot exchange-traded fund (ETF) on Brazil's B3 stock exchange. The ETF, managed by Genial Investimentos, is listed under the ticker XRPH11.
The ETF tracks the Nasdaq XRP Reference Price Index, with at least 95% of its net assets allocated to XRP, according to Hashdex. This launch marks Hashdex's ninth ETF on the Brazilian exchange, expanding its single-asset ETF offerings which include Bitcoin, Ethereum, and Solana.
As of April 18, XRP-related exchange-traded products (ETPs) had $950 million in assets under management (AUM), according to CoinShares. XRP funds saw the strongest weekly inflows last week with $37.7 million allocated.
Hashdex aims to attract sophisticated investors, including institutions, to build crypto portfolios on Brazil's equity market. JPMorgan predicted in January that these products could attract up to $8 billion in net flows.
While Hashdex has a head start, Brazil represents only 0.9% of the global AUM of crypto ETPs. XRPH11 needs global appeal to reach a significant AUM.