Background: Daily oral antiretroviral therapy (ART) has transformed HIV into a chronic, manageable condition, but it still poses psychological, logistical, and biological challenges. Long-acting injectable (LAI) cabotegravir plus rilpivirine provides an alternative for virologically suppressed individuals, reducing treatment fatigue, stigma, and daily dosing. While clinical trials have demonstrated efficacy and safety, real-world data remain limited. We assessed the effectiveness and safety of LAI cabotegravir plus rilpivirine in Spain. Methods: RELATIVITY is a 5-year, multicentre, ambispective, non-controlled cohort study. The primary endpoint was treatment effectiveness, defined as the proportion of patients discontinuing LAI therapy for any reason, including loss of virological suppression (HIV-RNA >50 copies/mL) during follow-up, regardless of formal failure criteria. Results: This interim analysis (cut-off: March 1, 2025) included 3203 patients from 58 Spanish hospitals; 57 were excluded due to detectable viral load at switch, leaving 3146 participants. Most were men (84.6%), with a median age of 45 years. Median time on ART before switching was 9.0 (5.0–15.0) years, and duration of viral suppression was 84.0 (36.0–132.0) months. Prior integrase inhibitor–based regimens were reported in 77.1%. Virological suppression was maintained in ≥96% through 23 months of follow-up. Overall, 6.4% (n = 199) discontinued, most frequently for injection-site reactions (n = 45), systemic adverse events (n = 29), or virological failure (n = 20). Conclusions: Interim results from the RELATIVITY cohort confirm high effectiveness and safety of LAI cabotegravir plus rilpivirine in Spanish clinical practice, consistent with randomized trial outcomes and real-world data. An extended follow-up will provide further insights.