Canary’s XRPC leads with $347M in assets under management
Total US XRP ETF value stands at $775M including REX-Osprey
XRP fell to $2 during broader crypto drawdown despite ETF inflows
Exchange-traded funds offering exposure to XRP have accumulated 318 million XRP in total holdings across several providers in less than three weeks. Based on current market prices, these holdings are worth about $648 million.
The data includes four major funds launched in the US—Canary Capital, Bitwise, Grayscale, and Franklin Templeton. Together with the REX-Osprey fund, total assets under management for US XRP ETFs now exceed $775 million, according to the most recent fund disclosures.
Canary Capital’s XRPC ETF currently leads with nearly $347 million in assets under management. It also posted the highest first-day volume of any US ETF launched in 2025. Canary executives said the strong debut shows strong institutional interest in XRP exposure through regulated investment vehicles.
“We’re seeing more than early adoption, it’s clear validation of investor demand,” said Steven McClurg, CEO and Founder of Canary Capital. He added that investors prefer the ETF model for XRP because of ease of access and regulated custody.
XRPC allows investors to gain exposure to the XRP Ledger’s native token without managing direct wallet storage. The fund tracks the price of XRP while maintaining secure custody through institutional-grade partners.
The expansion of XRP ETF products comes as the token’s price declined sharply during a broader market drawdown. XRP fell to around $2 after leveraged trading positions were unwound, leaving the token below its January 2025 price.
Analysts have pointed to over-leveraged conditions and post-launch selling pressure as likely reasons for the decline. The recent sell-off occurred during the anticipation of new ETF listings and has been described by analysts as a typical “sell-the-news” pattern.
XRP also saw a similar drop after the debut of Canary Capital’s ETF in mid-November. Bitwise followed with its own XRP product, which also experienced early volume before XRP dropped again during broader market weakness.
XRP ETF launches are part of a broader trend in the crypto ETF market. Managers are now preparing additional products based on other digital assets such as Solana, Dogecoin, HBAR, and Litecoin. Grayscale is also expected to launch a spot Chainlink (LINK) ETF in the coming days.
ETF managers are responding to investor demand for regulated access to a wider range of cryptocurrencies. Despite XRP’s underperformance year-to-date, institutional interest in spot XRP ETFs continues to grow based on the inflows and fund activity since launch.
Current flows suggest continued appetite for altcoin exposure through ETFs, even as the market adjusts from high volatility. XRP remains a key token in the payment and settlement sector, with Ripple Labs continuing to develop its cross-border payment technology.
Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
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