Brazil launched the first Spot XRP investment fund on the B3 stock market platform by taking a pioneering step in crypto asset management. The fund was followed by the NASDAQ XRP Reference Price Index and was reportedly launched with a net asset worth $ 40 million.
First Spot XRP ETF
Hashdex NASDAQ XRP Fundo de índice (xrph11), which is released under the name of the investment fund, draws attention with the obligation to invest at least 95 %of XRP and similar products. While the maximum wage determined up to 0.7 %annually for fund management is applied, no additional fees are requested for separation procedures. The Brazilian securities and the stock market commission approved the fund two months ago.
Global Situation and Market Expectations
The fact that the approval process of similar funds in the United States has not been completed has made Brazil stand out in this field. The postponement of the US Securities and Stock Exchange Commission’s postponement of spot fund approvals on XRP and Solana causes an increase in the interest of investors, while analysts estimate that approved funds can increase new investment flows.
The Fund follows XRP’s instant price through the NASDAQ XRP reference price index and Banco Genial plays to provide security services. This step can contribute to the diversification of alternative investment instruments for institutions interested in crypto assets.
Samir Kerbage – Hashdex CIO: “XRPH11 is added to the company’s mono asset portfolio and expanding its product portfolio for institutions aiming to create crypto strategies in the local financial system.”
Hashdex has a total of nine crypto assets investment funds traded on B3. In addition to products such as Bitcoin, Ethereum and Solana, the XRP Investment Fund is also in the portfolio. This diversity aims to attract the interest of corporate investors in the crypto asset market.
Researchers say that Brazil’s step in this field can prepare the ground for increased similar practices in other countries. Approaches of regulatory institutions and investor demands may shape the future of the global digital asset market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
