On April 25, 2025, the world's first spot XRP ETF, XRPH11, was launched on the B3 exchange in Brazil, where 95 percent of the fund's assets consist of XRP, and the price is tied to the Nasdaq XRP Reference Price Index.

The Brazilian Securities Commission officially approved the launch, which increased the confidence of institutional investors and opened regulated access to XRP. Following the conclusion of legal proceedings in the U.S. and the SEC's decision to drop its appeal, analysts predict a high likelihood of approval for a spot XRP ETF in the U.S. by the end of April 2025. Against this backdrop, the price of XRP remains above two dollars, and in the event of an ETF launch in the U.S., a rise to five to fifteen dollars and an influx of up to fourteen billion dollars is expected. The main risks are possible regulatory delays and high volatility, but the situation surrounding XRP remains favorable for the emergence of an ETF in the U.S. in 2025.