Institutional demand for XRP continues to strengthen, with exchange-traded fund (ETF) holdings surpassing $1.25 billion in net assets. The latest milestone coincided with Canary Capital’s quarterly filing to the U.S. Securities and Exchange Commission (SEC), which disclosed a massive spot XRP position of 194,948,011 tokens as of March 31, 2026.
According to the Form 10-Q, the Canary XRP ETF reported net assets of $261.9 million and total assets of approximately $264.8 million, with negligible liabilities. This structure ensures nearly all value remains tied directly to XRP. Despite a decline in net asset value per share from $20.46 in December 2025 to $15.03 at quarter-end—reflecting XRP’s softer Q1 performance—investor participation continued to expand. Shares outstanding rose from 17.425 million to 20.24 million by May 8, 2026, signaling steady inflows. The fund charges a 0.34% sponsor fee and tracks the CME CF XRP Reference Rate New York Variant for spot exposure.
Meanwhile, broader XRP ETF buying momentum pushed total net assets across all such products to the $1.25 billion mark. A single-day inflow of $18.52 million underscored the appetite, with analysts pointing to increased whale liquidity shifts as large holders reposition for institutional expansion. On-chain data suggests that these significant wallet movements often coincide with accumulation phases, bolstering bullish sentiment. The combination of surging ETF inflows and strategic whale activity is being interpreted as a strong signal of long-term institutional confidence in XRP.
