The primary spot exchange-traded fund (ETF) tied to XRP on this planet, issued by Hashdex and managed by Genial Investimentos, started buying and selling on April 25 on Brazil’s inventory alternate, B3.
Listed beneath the ticker XRPH11, the ETF tracks the Nasdaq XRP Reference Worth Index and, in keeping with Hashdex, will allocate at the least 95% of its web belongings to XRP. The introduction of the fund marks Hashdex’s ninth ETF launch on the Brazilian alternate.
The asset supervisor may use direct or oblique holdings, futures contracts geared toward replicating the index’s efficiency, or different monetary devices that mirror the worth of XRP as outlined by Nasdaq’s benchmark to offer publicity.
The launch expands Hashdex’s single-asset ETF choices on B3, which additionally embody merchandise primarily based on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Based on Hashdex’s chief funding officer, Samir Kerbage, the fund goals to draw subtle buyers, together with establishments trying to construct crypto portfolios on Brazil’s fairness market infrastructure.
He added that the ETF goals to increase investor entry whereas aligning with regulatory steering on fund security and transparency.
An $8 billion market
XRP-related exchange-traded merchandise (ETPs) registered $950 million in belongings beneath administration (AUM) as of April 18, as CoinShares reported.
Moreover, XRP funds registered the strongest weekly inflows amongst different crypto-related ETPs final week, with $37.7 million allotted.
Based on a January prediction by JPMorgan, these merchandise may appeal to as much as $8 billion in web flows, over eight instances their present AUM dimension.
Though Hashdex secured a head begin in conquering this market, Brazil represents solely 0.9% of the worldwide AUM of crypto ETPs. XRPH11 should discover international enchantment to succeed in a big AUM and grant Hashdex a cushty spot within the race.