Credit: Forbes
Crypto products occupied four of the five leading positions among B3-listed ETFs on September 3. XRPH11 led with a 10.99% gain, followed by QSOL11 at 6.89%. TOPY11 advanced 6.30%, XBIT11 gained 5.76% and SOLH11 rose 5.71%.
The recovery coincided with lower Treasury yields and reduced expectations for a US interest-rate increase. Federal Reserve Governor Christopher Waller indicated support for keeping rates unchanged if upcoming data confirm that inflation is easing. The probability of a rate increase at the September meeting fell from 63.2% to 50.4%.
US private employers added 38,000 jobs in August, below the projection of 47,000. The result reinforced signs of moderation in the labor market and reduced pressure on assets that are more sensitive to liquidity conditions.
Bitcoin returned to the $77,500 area, while XRP led the major digital currencies. Solana also advanced and extended the recovery that began in August.
TOPY11 was the exception in a ranking dominated by crypto assets. The product tracks a long/short US equity strategy and uses options to generate additional income.
XRPH11 (Hashdex): +10.99%
XRPH11 led the session with a 10.99% gain. The ETF provides direct exposure to XRP and outperformed second-place QSOL11 by 4.10 percentage points.
XRP posted the strongest gain among major crypto assets, extending its recovery after the previous correction.
Institutional interest also supports the asset’s presence in the US market. US-listed XRP ETFs have accumulated approximately $1.8 billion in net inflows since November 2025. Through September 1, the products had recorded 11 consecutive sessions of positive inflows, totaling approximately $170 million.
The fund is up 6.39% for the week and 40.55% for the month. Performance remains negative for the year, with a decline of 25.94%, and over 12 months, with a loss of 52.63%.
The recent advance has recovered part of the previous losses but has not reversed the negative performance over longer periods.
QSOL11 (QR Asset): +6.89% and SOLH11 (Hashdex): +5.71%
QSOL11 and SOLH11 advanced 6.89% and 5.71%, respectively. Both ETFs track Solana and ranked second and fifth among the session’s leading gains.
Solana recovered in an environment of greater risk appetite and increased activity across blockchain-based applications.
On-chain trading terminals surpassed $1 billion in daily volume for the first time since January 2025. Solana is one of the main networks supporting these applications.
The daily return gap between QSOL11 and SOLH11 was 1.18 percentage points. Their monthly performance remains closely aligned: QSOL11 is up 43.93%, while SOLH11 has gained 43.17%.
QSOL11 is down 21.92% for the year, while SOLH11 has declined 21.19%. Over 12 months, the losses reach 53.50% and 53.36%, respectively. The monthly recovery still represents a partial reversal of the previous losses.
TOPY11 (Buena Vista): +6.30%
TOPY11 advanced 6.30% and ranked third. Unlike the other ETFs in the ranking, the product is tied to the US equity market rather than crypto assets.
The ETF tracks BDEXTOPY, an index based on a long/short strategy. The portfolio holds long positions in US companies with stronger financial characteristics and short positions in companies with less favorable signals under the quantitative model.
The selection process considers earnings quality, cash generation, earnings revisions and short interest. The reference portfolio holds approximately 30 long positions and 30 short positions.
Gross long exposure is close to 120%, while short positions represent approximately 55%. The short portfolio reduces part of the directional market exposure and seeks to capture performance differences among the selected companies.
The strategy also sells put options on major US equity indexes to generate income. Returns combine security selection across long and short positions, net market exposure and option premiums.
The fund is up 5.46% for the week and 15.60% for the month. It charges an annual management fee of 0.98%, and the strategy provides for monthly income distributions.
XBIT11 (XP Asset): +5.76%
XBIT11 advanced 5.76% and ranked fourth. The ETF provides exposure to Bitcoin and posted the highest daily return among Brazilian products directly linked to the cryptocurrency.
Bitcoin returned to the $77,500 area after trading near $76,000. Lower Treasury yields and reduced expectations for a US interest-rate increase eased pressure on risk assets.
XBIT11 outperformed BITH11, HODL11, QBTC11 and BITC11, which gained between 5.46% and 5.62%. The difference of only 0.30 percentage point between XBIT11 and BITC11 illustrates the close performance of products linked to the same underlying asset.
The fund is up 3.60% for the week and 28.52% for the month. Performance remains negative for the year at 13.43%.
The monthly recovery extends the move recorded in August, when Bitcoin gained 25% in US dollars and 28% in Brazilian reais.
Exclusive DEX PRO data. This content is provided for informational purposes only and does not constitute a recommendation to invest in, buy or sell any asset.
