First-ever XRP spot ETF crashes 45%
3 minute readPublished: Sunday, March 8, 2026 at 11:44 am
First XRP Spot ETF Plummets, While Others Gain Traction
The world's first XRP spot exchange-traded fund (ETF), launched in Brazil, has experienced a significant downturn since its debut. The ETF, trading under the ticker XRPH11, has declined by approximately 45% since its launch. The fund closed at 11.19 BRL ($2.13) on Friday, down 3.7% for the day, and has posted a year-to-date loss of 30.5%.
The ETF, which tracks the Nasdaq XRP Reference Price Index, provides direct exposure to the XRP token. The Brazilian asset manager behind the product received regulatory approval in February 2025, and the ETF began trading on April 25, 2025. This allowed retail and institutional investors in Brazil to gain regulated exposure to XRP through standard brokerage accounts.
Despite being the first of its kind, the ETF had a limited impact on XRP's global price. The ETF's domestic market focus and modest inflows were insufficient to generate significant buying pressure on XRP's large circulating supply. Additionally, traditional finance settlement delays further muted any short-term price effect.
In contrast, subsequent spot XRP ETF launches in North America have shown a different trajectory. Canada approved multiple spot XRP ETFs in June 2025, which quickly gathered meaningful assets under management. The United States followed suit in late 2025, with several offerings approved, including Canary Capitals XRPC ETF. These U.S. products have recorded substantial and consistent inflows.
Meanwhile, XRP's price has suffered notable losses. At the time of reporting, the asset was trading at $1.36, down about 0.3% in the last 24 hours, and down 0.8% on the weekly timeline. Technical analysis indicates a bearish trend. The 50-day simple moving average (SMA) is at $1.57, well above the current price, and the 200-day SMA is at $2.20. The 14-day Relative Strength Index (RSI) is at 41.81, in the neutral zone.
BNN's Perspective: The contrasting performance of the initial XRP ETF in Brazil and the subsequent launches in North America highlights the importance of regulatory frameworks and market depth in the success of crypto ETFs. While the Brazilian ETF faced headwinds, the U.S. and Canadian markets, with their more established regulatory environments and greater investor participation, have seen more positive results. The overall performance of XRP, however, remains tied to broader market sentiment and macroeconomic factors.
Keywords: XRP ETF, spot ETF, cryptocurrency, Brazil, Canada, United States, XRPH11, XRPP, XRPQ, XRPC, Nasdaq XRP Reference Price Index, price analysis, SMA, RSI, bearish, crypto market.