- Brazil debuts first XRP spot ETF (XRPH11) via Hashdex, trading on B3 since April 25 amid U.S. delays.
- XRPH11 tracks Nasdaq’s XRP index, holds 95% in XRP via spot, futures; targets institutions under local regulations.
- Brazil’s crypto ETF push contrasts U.S. hurdles; Solana ETF flopped last year, raising questions on XRP demand.
Brazil’s stock exchange, B3, began trading the world’s first spot XRP exchange-traded fund (ETF) on April 25. The fund, labeled XRPH11, is managed by Genial Investimentos and issued by Hashdex, a firm with eight existing crypto ETFs on B3, including products tied to Bitcoin, Ethereum, and Solana. The launch positions Brazil ahead of the U.S., where regulatory delays have stalled comparable offerings.
XRPH11 tracks the Nasdaq XRP Reference Price Index and allocates a minimum of 95% of its assets to XRP through direct holdings, futures contracts, or related instruments. While initial trading volumes remain undisclosed, the ETF is already listed on B3’s platform, accessible to institutional and accredited investors.
Samir Kerbage, Hashdex’s Chief Investment Officer, stated the fund prioritizes transparency and compliance with Brazilian rules, aiming to meet demand for regulated crypto exposure in equity markets.
The move follows Brazil’s approval of a Solana ETF in 2023, which saw limited traction. Analysts suggest XRPH11’s performance could influence short-term XRP price action, particularly if adoption lags.
However, broader optimism persists: CoinShares reported $37.7 million flowing into XRP-focused funds globally last week, the highest weekly figure among crypto exchange-traded products. JPMorgan analysts estimate XRP ETFs could eventually draw up to $8 billion in net inflows, though Brazil’s 0.9% share of the global crypto ETF market means XRPH11 may need cross-border interest to drive meaningful impact.
Regulatory contrasts remain stark. Brazil’s swift ETF approvals contrast with U.S. hesitations, where proposals for similar products face prolonged scrutiny. Polymarket, a prediction platform, assigns a 74% likelihood to U.S. regulators greenlighting a spot XRP ETF by 2025. For now, Brazil’s experiment tests whether localized crypto products can resonate beyond regional borders—a question with answers as uncertain as the markets themselves.
XRP (Ripple) is currently trading at $2.188, posting a modest +0.23% daily gain, with a strong +6.18% rise over the past week. Over the past month, XRP remains slightly in correction with a -6.77% decline, but it shows impressive longer-term strength, rising +323.99% over the last 6 months and +316.40% over the past year. XRP’s market capitalization is $127.79 billion, and the 24h trading volume stands at $3.09 billion.
From a technical view, XRP has recently peaked at $2.299 before pulling back to a low of $2.120, but has since rebounded above the 50% Fibonacci retracement level, which is a bullish sign.
Immediate resistance lies near $2.25–$2.30, and a clear breakout could propel XRP toward $2.50 and $2.77. Key support remains around $2.12, and if breached, could trigger a short-term correction toward $2.00. Oscillators and moving averages suggest a neutral-to-bullish bias, aligning with bullish sentiment seen across crypto markets.
On the fundamentals, XRP continues to gain momentum with institutional interest, highlighted by moves like the first XRP ETF launch in Brazil, and the upcoming launch of XRP futures by CME, pending approval.
