“The world's first XRP spot ETF plummets 10%, U.S. delay in approval triggers market panic!”

The world's first XRP spot ETF launched by the Brazilian Stock Exchange (code: XRPH11B3) has plummeted nearly 10% within a week of its listing. On May 5, the ETF closed at 19.30 Brazilian reais (3.47 USD), down 3.5% in a single day, influenced by overall market volatility, accumulating a drop of 8.7% over five trading days.

Despite a strong initial performance, the ETF struggles to maintain growth, facing low liquidity in the Brazilian market and ongoing selling pressure on XRP. Meanwhile, the spot price of XRP has also dropped to 2.10 USD, falling over 4% in the past 24 hours, with a weekly total decline of 8.75%.

U.S. delays XRP spot ETF approval, market outlook uncertain

The U.S. Securities and Exchange Commission (SEC) announced a delay in the resolution of the XRP spot ETF submitted by Franklin Templeton until June 17, 2025. At the same time, other XRP spot ETF applications have also been delayed until mid-October 2025. This decision is believed to be related to the progress of legal proceedings, potentially allowing the SEC to address legal issues before making a final decision.

Nevertheless, the market predicts a 74% chance that the XRP spot ETF will be approved by the end of the year. Meanwhile, three XRP futures ETFs from ProShares are expected to launch on May 14, becoming a new focal point for the market.