What to know:
- Canary Capital reported nearly 195 million XRP holdings in its latest quarterly filing.
- XRP ETF net asset value declined as institutional participation continued to increase steadily.
- The company maintained direct spot XRP exposure through regulated ETF investment structures.
Canary Capital has disclosed the size of its XRP reserves in a newly released quarterly filing submitted to the United States Securities and Exchange Commission (SEC), with the report confirming that the investment firm holds a massive XRP position despite recent pressure across the broader cryptocurrency market.
How Much XRP Holding Does Canary Capital Have
According to the document, the Canary XRP ETF held 194,948,011 XRP in the first quarter of the year ending on March 31, 2026, while the trust also reported net assets exceeding $261 million as institutional interest surrounding regulated XRP investment products continued drawing attention across financial markets.
The filing further revealed that the ETF maintained total assets worth approximately $264.8 million, while liabilities remained slightly above $116,000, showing that nearly all of the trust’s value remained directly tied to XRP holdings rather than other investment instruments or operational obligations.
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Moreover, Canary Capital continued structuring the ETF around direct spot XRP exposure by tracking the CME CF XRP Reference Rate New York Variant, allowing investors to gain regulated exposure to XRP price movements without directly holding the digital asset themselves.
Canary XRP ETF Reports Lower NAV as Investor Participation Continues Rising
Meanwhile, the ETF’s net asset value declined to $15.03 per share during the reporting period, compared to $20.46 recorded at the end of December 2025, reflecting XRP’s weaker market performance throughout the first quarter of 2026.
However, despite the decline in valuation, the filing suggested that investor participation within the ETF structure continued increasing during and after the reporting period, indicating that institutional appetite for XRP exposure remained active even amid broader market uncertainty.
The report showed that shares outstanding stood at 17.425 million by the end of March 2026, although the figure later increased to 20.24 million as of May 8, 2026, signaling continued inflows into the XRP-focused investment product.
Additionally, the filing confirmed that Canary Capital maintained a sponsor fee of 0.34%, while the trust continued positioning itself as a regulated spot XRP investment vehicle during a period where crypto ETF competition has intensified across the digital asset sector.
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