Canary XRP ETF Sees $82M Inflows Overwhelmed by $164M Loss

The Canary XRP ETF, managed by Canary Capital, reported an influx of $82.4 million in net capital-share transactions over the first half of 2026. However, this growth was overshadowed by a significant decline in the fund's net assets due to unrealized depreciation of its XRP holdings.

The fund's unaudited Form 10-Q filing showed that its net assets decreased from $322.8 million at December 31, 2025, to $241.2 million at June 30, 2026. This decline was primarily caused by unrealized depreciation of $159.7 million, which far exceeded the growth in net capital-share transactions.

The fund's holdings increased by 55.7 million XRP units, but the dollar value of these holdings decreased due to falling prices. The fund also recorded a realized loss of $3.26 million on the sale of 3.93 million XRP units to fund share redemptions.