Canary XRP ETF, listed on Nasdaq under the ticker XRPC, reported a sharp decline in net assets during the first half of 2026 despite continued inflows through capital share activity. According to an SEC filing dated Aug. 7, the fund’s net assets fell by $81.6 million to $241.2 million over the period. The filing said the ETF still recorded $82.36 million in net inflows from capital share activity, but that support was outweighed by $159.7 million in unrealized depreciation tied to XRP’s price decline. As of June 30, the fund’s XRP holdings had risen 31.7% to 231.3 million tokens. Even so, the ETF’s net asset value dropped 42.84% as XRP fell 43.27% over the same period. The filing also said authorized participants can create and redeem shares using either in-kind XRP or cash, indicating that the $82.36 million in capital share activity did not come entirely from retail cash subscriptions. The report was carried by Techub, citing crypto.news.
Canary XRP, the crypto exchange-traded fund launched by Canary Capital, posted an $81.6 million drop in net assets in the first half of 2026, ending the period with $241.2 million in net assets despite $82.36 million in net inflows from capital share activity.
According to an Aug. 7 filing with the U.S. Securities and Exchange Commission, the main drag came from XRP’s price decline. The filing said unrealized depreciation reached $159.7 million, more than offsetting the positive effect of inflows on the fund’s net asset value.
Holdings grew while NAV fell
As of June 30, the ETF’s XRP holdings had increased 31.7% to 231.3 million tokens. Over the same period, XRP’s price fell 43.27%, and the fund’s net asset value declined 42.84%.
Listed on Nasdaq in November 2025
The filing identified the fund as Canary XRP ETF, trading under the ticker XRPC. It was listed on Nasdaq in November 2025 as a cryptocurrency exchange-traded fund from Canary Capital.
Creations and redemptions can use XRP or cash
The SEC filing also said authorized participants can create and redeem shares using either in-kind XRP or cash. That means the $82.36 million in capital share activity was not entirely made up of cash deposits from retail investors.
The item was reported by Techub, citing crypto.news.
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