Spot XRP ETF Crashes Nearly 45% from All-Time High

The world's first spot XRP ETF has experienced significant volatility since its launch in April 2025. The Hashdex Nasdaq XRP Fundo de Índice (XRPH11), listed on Brazil’s B3 exchange, is now down by nearly 45% from its all-time high of $2.11.

This decline marks a prolonged downturn for the ETF, which began in 2026 and accelerated throughout the year. Over the past year, XRPH11 has dropped more than 57%, while it has declined by about 31% year-to-date.

Despite being the first product of its kind to offer direct exposure to XRP through a regulated exchange-traded fund structure, XRPH11 has had limited influence on XRP price discovery compared to its North American counterparts.