Brazil’s First Spot XRP ETF Makes an Appearance in Major Report on New Crypto Regulations

Brazil’s first spot XRP ETF has been highlighted in a recent report by The Rio Times.

The report spotlights the country’s evolving crypto landscape as it rolls out one of the most comprehensive digital asset regulatory frameworks in Latin America.

XRP community figure WrathofKahneman (WoK) drew attention to the mention in a post on X. He noted that Brazil’s spot XRP ETF featured in the publication’s in-depth analysis of the country’s new cryptocurrency regulations.

Key Points

• Brazil’s first spot XRP ETF was featured by The Rio Times amid new crypto reforms.

• Banco Central do Brasil now requires licenses, capital reserves, audits, and fund segregation.

• Hashdex launched XRPH11 on B3, Latin America’s first spot XRP ETF.

• Brazil saw $318.8B in crypto inflows, with rising XRP Ledger and stablecoin adoption.

Brazil’s Regulatory Shift Enters a New Era

According to the February 3 report, Brazil has officially entered a structured phase of crypto oversight under the leadership of the Banco Central do Brasil. The new rules require any company offering crypto services in Brazil to obtain formal authorization from the central bank.

Firms are now categorized as:

• Intermediaries (connecting buyers and sellers)
• Custodians (holding crypto assets for clients)
• Brokers (trading on behalf of clients)

Notably, capital requirements range from around $2 million for basic operations to $6.9 million for full-service providers, far higher than those of many global counterparts. Companies must also segregate customer funds, maintain independent audits, and meet proof-of-reserves standards. This measure was influenced by the collapse of FTX in 2022.

Brazil’s Massive Crypto Footprint

The report emphasizes that Brazil is no minor player in the digital asset space. The country ranked 5th globally in the 2025 Chainalysis Global Crypto Adoption Index, up from 10th in 2024.

Between July 2024 and June 2025, Brazil received $318.8 billion in crypto value, accounting for nearly one-third of Latin America’s total crypto activity. Year-on-year growth reached 109.9%, with an estimated 18–19% of Brazilians now owning cryptocurrency.

Crypto ETFs on Brazil’s main stock exchange mobilized roughly $10 billion in 2024 alone, reflecting rising institutional and retail participation.

Latin America’s First Spot XRP ETF

The report also notes that Brazil approved Latin America’s first spot XRP ETF in early 2025.

Asset manager Hashdex launched the product on B3 under the ticker XRPH11. The fund tracks XRP’s performance using the Nasdaq XRP Reference Price Index and provides regulated exposure to the XRPL native asset.

The ETF’s approval marked a significant milestone as it positioned Brazil ahead of larger markets in offering a spot XRP investment vehicle. The product joined Hashdex’s growing suite of crypto ETFs already trading on B3, including funds tied to Bitcoin, Ethereum, and Solana.

XRP Growing Presence in Brazil

Brazil has also seen expanding XRP Ledger activity beyond ETFs. In 2025, Braza Bank processed over $1 billion in stablecoin payments on the XRP Ledger during a single day in April, according to previous disclosures. 

The bank has issued BRL- and USD-backed stablecoins on XRPL, signaling growing institutional usage of blockchain rails in the country.

With a structured regulatory framework now in place and institutional products like a spot XRP ETF already trading, Brazil is building a formal bridge between traditional finance and blockchain infrastructure.