Key dishes to remember
- Brazil introduced the very first ETF SPOT XRP, making its debut on the B3 Stock Exchange.
- The ETF, managed by Hashdex, is defined to follow the price of XRP using the NASDAQ XRP reference price index.
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The world’s leading ETF following the cash price of XRP, the native active in Ripple, officially made its debut on the main Brazil Stock Exchange on April 25, according to a press release from Valor EconôMico.
The fund, nicknamed Hashdex Nasdaq XRP Fundo de índice, or hashdex Nasdaq XRP FI, is managed by Hashdex and administered by Genial Investments Securities Brokerage SA. Genial Bank SA is the keeper of the ETF.
The Global Asset Manager obtained Greenlight from the Securities and Exchange Commission of Brazil (CVM) to launch the fund linked to XRP in February. The approval occurred after the securities regulator approved the Hashdex Solana ETF spot last August.
After regulatory approval, the fund concluded a preoperative phase. During this phase, he did not yet actively trading but made preparatory steps.
The ETF, which is now negotiated on B3 under the Ticker XRPH11, reproduces the XRP reference price index (NQXRP), which follows the cash price of XRP on the main exchanges of Crypto, according to the fund documents.
The fund will invest at least 95% of its net assets in XRP and digital assets, titles or term contracts linked to the index. Since the latest data, the net value of XRPH11 has been nearly $ 40 million.
The structure of FNB costs includes maximum global costs of 0.7% per year for administration, management and distribution, plus maximum daycare costs of 0.1% per year. No structuring fees applies to the fund.
With the launch of XRPH11, Hashdex has expanded its ETF range on B3 to nine products, said Samir Kerbage, CIO de Hashdex.
He added that the new fund is part of the Hashdex ETF Mono-Asset group, which also includes Bith11, Ethe11 and Solh11. These funds target sophisticated investors such as institutions wishing to develop cryptographic strategies on B3.
While Brazil is launching the first ETF XRP in the world, the United States should approve the funds that soon follow the fourth greatest asset in the world crypto.
If it is approved by the dry, Spot Solana and XRP ETF could draw up to $ 14 billion in investment, as estimated by JPMorgan analysts.
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