5 hours ago
FeaturedPublished:May 16, 2026, 9:30 PM
Canary XRP ETF reported 212.6 cardinal XRP, valued astatine astir $305 million, arsenic its latest holdings update followed a quarterly SEC filing. The trust’s disclosures showed rising token holdings, spot-only exposure, and valuation unit tied to XRP’s terms action.
Published: May 16, 2026, 9:30 PM
Key Takeaways
- Canary Capital reported 212.6 cardinal XRP successful its latest ETF holdings update.
- Quarter-end assets roseate successful token terms, but valuation fell aft XRP weakened.
- Further vulnerability depends connected handbasket activity, custody arrangements, and XRP terms moves.
Canary XRP ETF Reports Expanded Holdings
Canary Capital Group published holdings for Canary XRP ETF showing 212.6 cardinal XRP, valued astatine astir $305 million, successful its latest reporting connected May 16. The update followed the trust’s quarterly Form 10-Q, filed with the U.S. Securities and Exchange Commission (SEC) for the 4th ended March 31. The filing elaborate the exchange-traded money (ETF)’s holdings, expenses, operations, and fiscal condition.
Quarter-end disclosures showed the spot held 197.2 cardinal XRP connected March 31, up from 175.6 cardinal connected Dec. 31. That equilibrium was valued astatine $264.9 million, down from $323 million, arsenic XRP’s terms diminution outweighed the higher token count. The filing classified XRP arsenic the trust’s lone investment. The filing states:
“The spot is simply a passive concern conveyance that does not question to make returns beyond tracking the terms of XRP.”
Creation enactment accounted for astir first-quarter XRP inflows. The spot purchased 16.5 cardinal XRP and received 5.6 cardinal XRP done in-kind creations. It sold 319,319 XRP for stock redemptions and transferred 225,061 XRP to wage sponsor fees. No XRP was distributed in-kind for redemptions during the quarter.
Canary XRP ETF holdings. Source: Canary Capital GroupTrust Structure Centers connected Spot XRP Exposure
Organized arsenic a Delaware statutory trust, Canary XRP ETF holds XRP for shareholders done a spot-only structure. Canary Capital Group LLC serves arsenic the sponsor, portion CSC Delaware Trust Company serves arsenic the trustee. Shareholders ain spot shares, not nonstop claims connected circumstantial XRP held by custodians.
Basket enactment ties the fund’s stock proviso to XRP flows. The spot creates and redeems shares successful 10,000-share baskets. Depending connected authorized subordinate agreements, transactions whitethorn settee successful currency oregon XRP. The filing disclosed nary derivatives, leverage, synthetic XRP exposure, different crypto assets, securities, oregon cash-like instruments.
Coinbase Custody Trust Company LLC and Bitgo Trust Company Inc. service arsenic XRP custodians. U.S. Bank Global Fund Services acts arsenic administrator, transportation agent, and accounting agent. The head calculates nett plus worth (NAV) each concern time aft 4 p.m. Eastern time. The filing notes:
“The spot purchases XRP upon the instauration of Shares and sells XRP upon the redemption of Shares.”
Together, the May holdings update and quarterly filing amusement a larger XRP presumption aft quarter-end. The spot remained concentrated successful spot XRP, making custody, handbasket activity, and XRP terms movements cardinal to its reported exposure.
English (US) 