XRP ETF Crashes Over 20% in Brazil as Hype Fizzles and Losses Mount

The world’s first spot XRP exchange-traded fund, XRPH11, has plunged more than 20 percent since its highly anticipated launch in Brazil. Issued by Hashdex and listed on the B3 stock exchange, the ETF has failed to maintain investor momentum following a sharp decline in XRP’s market value.

On June 13, XRPH11 closed trading at 18.65 BRL, or approximately $3.37, marking a 6.33 percent single-day drop. The fund has dipped 20.6 percent in the last month despite the euphoria that prevailed when it broke into the scene in late April.