Overview
- Canary disclosed on Aug. 7 in an unaudited Form 10-Q that XRPC’s net assets fell from $322.8 million at Dec. 31, 2025 to $241.2 million at June 30, 2026, a drop of about $81.6 million.
- The filing shows $82.36 million of net capital-share activity during H1 2026 made up of $88.26 million in creations and $5.90 million in redemptions, but that inflow was not equivalent to cash coming from retail buyers.
- Unrealized depreciation in XRP drove the operational decline, accounting for roughly $159.7 million of a $164.0 million decrease from operations while realized losses were about $3.6 million.
- XRPC increased its XRP holdings to about 231.3 million tokens at June 30, up 31.7% from year-end, and the fund sold 3.93 million XRP to meet redemptions, recording a $3.26 million realized loss.
- Canary’s published fund data shows further NAV weakness into early August with net assets at about $237.4 million on Aug. 7, underscoring that creation volume alone does not prove net cash demand or stop valuation losses.