Hashdex Launches Brazil’s First Spot XRP ETF—Because Wall Street Was Too Busy Obsessing Over Bitcoin
Brazilian investors just got a new playground toy: Hashdex’s spot XRP ETF hits the market today, dodging the SEC’s usual roadblocks by setting up shop in São Paulo instead of New York.
Why it matters: While US regulators keep playing whack-a-mole with crypto products, emerging markets are eating their lunch—this ETF gives direct exposure to Ripple’s native token without the usual derivatives gymnastics.
The fine print: Unlike its futures-based cousins, this fund holds actual XRP tokens. Cue the institutional investors who’ve been waiting for a ’respectable’ way to gamble on the perpetual Ripple vs SEC saga.
Bottom line: Another reminder that the future of crypto innovation is increasingly happening where regulators aren’t—unless you count those pesky 10% daily swings as regulation by market tantrum.
An $8 billion market
XRP-related exchange-traded products (ETPs) registered(AUM) as of April 18, as CoinShares reported.
Additionally, XRP funds registered the strongest weekly inflows among other crypto-related ETPs last week, with $37.7 million allocated.
According to a January prediction by JPMorgan, these products could, over eight times their current AUM size.
Although Hashdex secured a head start in conquering this market, Brazil represents only 0.9% of the global AUM of crypto ETPs. XRPH11 must find global appeal to reach a significant AUM and grant Hashdex a comfortable spot in the race.
