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Brazil’s B3 Launches XRPH11, World’s First Spot XRP ETF Managed by Hashdex and Genial Investimentos

Brazil`s B3 stock exchange has launched the world`s first spot XRP exchange-traded fund (ETF), marking a pioneering development in cryptocurrency investment products. The ETF, listed under the ticker XRPH11, is managed by Hashdex, a crypto-focused asset management firm, in partnership with Genial Investimentos, which handles administration. The fund tracks the Nasdaq XRP Reference Price Index and allocates at least 95% of its net assets to XRP, providing investors direct exposure to the cryptocurrency. This launch precedes any similar approval in the United States, positioning Brazil at the forefront of XRP ETF offerings globally. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag

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Swiss National Bank President Makes Statement on Bitcoin (BTC) Following Heavy Demand

Martin Schlegel, President of the Swiss National Bank (SNB), has categorically rejected suggestions that the central bank should hold Bitcoin in its reserves, stating that cryptocurrencies do not meet the institution’s reserve asset standards. Speaking at the SNB’s annual shareholders’ meeting in Bern, Schlegel cited growing pressure from crypto advocates who argue the central bank needs to diversify its reserves in light of growing global economic uncertainty. The move has gained momentum since U.S. President Donald Trump imposed new tariffs that critics say could destabilize international markets. The movement is launching a referendum initiative aimed at amending the Swiss constitution to make it mandatory for the SNB to hold Bitcoin alongside gold as part of its official reserves. The initiative is being led by the Bitcoin Initiative, a group founded by Luzius Meisser, a prominent figure in the Swiss crypto community. Related News: Critical Number Revealed for Bitcoin: Miners Start Losing Money If BTC Falls Below This Number Despite this momentum, Schlegel remained steadfast. “Cryptocurrencies are not currently fulfilling the requirements for our foreign exchange reserves,” he said. He emphasized the need for the central bank to reliably buy and sell assets, raising concerns about market liquidity. Schlegel also pointed to the extreme volatility of cryptocurrencies, describing their value swings as “very, very high,” casting doubt on their role as stable reserve assets. Addressing shareholders earlier in the meeting, Meisser argued that Bitcoin offers strategic value in a changing geopolitical environment. “I must admit that it may not be very valuable in the scenarios that most of you consider normal,” he said, adding, “But Bitcoin will be very valuable in the specific scenario of a multipolar world order where reliance on sovereign debt is decreasing.” *This is not investment advice. Continue Reading: Swiss National Bank President Makes Statement on Bitcoin (BTC) Following Heavy Demand CoinOtag