---
title: "Canary XRP ETF is down 55% in its first year"
url: "https://etf.net/news/xrpc-down-55-in-first-year-2026-11-11"
published_at: "2026-11-11T16:02:11.153Z"
updated_at: "2026-11-11T16:02:11.153Z"
byline: "ETF.net Research"
---

# Canary XRP ETF is down 55% in its first year

XRP fell 54%, and two funds that started days later are now larger.

By ETF.net Research. Published Nov 11, 2026.

Canary Capital Group's Canary XRP ETF XRPC is down **55%** at net asset value since inception through Nov. 10, 2026, [Canary reports](https://canaryetfs.com/xrpc/). The shares were priced at [$25](https://www.sec.gov/Archives/edgar/data/2039505/000199937126007350/xrpc-10k_123125.htm) on Nov. 12, 2025, and trading on Nasdaq began the next day.

Chart: **54.3%** below the first close through Nov. 10

XRP, the token XRPC holds, was $2.30 on that date, [Canary's annual report](https://www.sec.gov/Archives/edgar/data/2039505/000199937126007350/xrpc-10k_123125.htm) said. On Nov. 11, 2026, Canary priced the XRP in XRPC at $1.06, down 54% from that $2.30.

The annual report says XRPC does not seek returns beyond tracking the price of XRP. From the start through Dec. 31, 2025, the report said, the token fell 20.86% and the net asset value per share fell 21.69%.

## Bitwise and Franklin are larger

The Bitwise fund that holds XRP, Bitwise XRP ETF XRP, started on Nov. 19, 2025, and [reported $431 million](https://bitxrpetf.com/) in net assets as of Nov. 9, 2026. Franklin Templeton's Franklin XRP ETF XRPZ started on Nov. 24, 2025, and [reported $339 million](https://www.franklintempleton.com/investments/options/exchange-traded-funds/products/47318/SINGLCLASS/franklin-xrp-etf/XRPZ) in net assets as of Nov. 9, 2026. Canary [reported $257 million](https://canaryetfs.com/xrpc/) in net assets on Nov. 10, 2026.

On Nov. 26, 2025, [Canary said](https://www.nasdaq.com/press-release/canary-capitals-xrpc-larger-all-other-us-spot-xrp-etfs-combined-11-26-25-and-hbr) XRPC had more than $336 million in assets, against $330.3 million for the other U.S. funds that hold XRP, from three other issuers.

Source: etf.net, https://etf.net/news/xrpc-down-55-in-first-year-2026-11-11. Please cite the page URL.