Brazil introduced the first XRP ETF, called XRPH11, which started trading on the B3 stock exchange. Hashdex issued the ETF, marking a significant milestone globally. In the past year, Brazil also made history by approving the first Solana ETF. The trading volume of XRPH11 is not disclosed yet, but this development could potentially influence similar approvals in the US market.

Hashdex secured approval to launch the XRP ETF in Brazil in February after focusing on the region as a potential market for around two years. The launch of XRPH11 is part of Hashdex's series of mono-asset funds designed for sophisticated investors, including institutional investors looking to diversify their crypto portfolios on B3.

The XRP ETF will predominantly invest in XRP assets and may include direct and indirect holdings. While specific trading data from the initial day is not publicly available, the ETF is confirmed to be active on Hashdex's platform. Brazil's approval and prompt market launch stand in contrast to the extended approval process in the US.

Brazil's achievement with XRPH11 follows the approval of the first Solana ETF, which did not have an immediate market impact. The outcome of XRPH11's performance will offer valuable insights, potentially influencing the acceptance of altcoin products in the US ETF market. Reports suggest a high likelihood of an XRP ETF approval in the US by the end of the year.