XP launches REAL11 ETF combining Selic yield with BRL exposure

XP introduces a new ETF, REAL11, that pairs Brazilian Selic-linked returns with exposure to the real, effectively offering a carry trade instrument. The product capitalizes on the interest rate differential between Brazil and other markets, providing investors a novel way to gain currency and rate exposure. This is a product launch, not a policy shift, but it signals growing retail demand for FX-carry strategies.