An ETF XRP nicknamed XRPH11 began to trade in Brazil today, which makes it the first product of this type in the world. The ETF, issued by Hashdex, is negotiated on the Brazil B3 scholarship.
Brazil also marked history by approving the first ETF Solana last year. The commercial volume of XRPH11 is not yet public knowledge, but it could open the way to such approvals on the American market.
The FNB XRP of Brazil is put online
Hashdex obtained approval for the exchange of this ETF XRP in Brazil in February. Although the company continued several ETF Crypto in the United States, it recognized Brazil as a potential area of intervention almost two years ago.
Today, Hashdex’s efforts are bearing fruit, as B3 announced earlier.
“XRPH11 is part of the Hashdex mono-active funds range, such as ETF Bith11, ETHE11 and Solh11. The objective of these ETF is sophisticated investors, such as institutional investors who want to build crypto portfolios on local media”, Samir Kerbage, Cio de Hashdex, in a declaration in local media.
XRPH11 will invest at least 95% of its assets in XRP, although it is made up of direct and indirect holders. So far, it does not seem that commercial data of its first day will be accessible to the public, but the Hashdex site confirms that XRPH11 is already live.
However, Brazil has won a major achievement, because the very first ETF XRP is negotiated in its markets. Regulators based in the United States have reported their desire to approve these products, but candidates are still waiting.
Compared to this elaborate process, the green light from Brazil in February and the launch of the market in April seem squarely fast.
Last year, Brazilian regulators also approved the world’s first ETF in the world, although it did not have much impact on the immediate market. Hopefully this situation will not happen again in today’s trade data; There are several disturbing signs in XRP price movements.
If the new ETF of Brazil landed with a thud for XRP as for Solana, it could spell more lower.
Be that as it may, XRPH11 trading performance will contain several useful information. The US FNB market may soon face a flood of Altcoin products, and they may not have a chance to capture the domination of the Bitcoin market.
Currently, Polymarket shows a 74% chance of an ETF XRP approval in the United States by the end of this year.
Non-liability clause
In membership of the Trust project guidelines, Beincrypto has embarked on transparent impartial reports. This press article aims to provide precise and timely information. However, readers are invited to check the facts independently and consult a professional before making decisions according to this content. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
