Canary XRP ETF filed its quarterly report on Form 10-Q for the period ended September 30, 2026, disclosing unaudited financial statements for the three and nine months ended on that date.

Key Highlights

  • Net assets of $368,656,616 as of September 30, 2026, up from $322,819,725 at December 31, 2025, according to the filing.
  • 247,755,213 XRP held at fair value of $368,802,432 against a cost basis of $488,550,080 as of September 30, 2026.
  • Net asset value per share of $15.79 as of September 30, 2026, compared with $19.58 at December 31, 2025.
  • 22,920,000 shares outstanding as of November 9, 2026, the filing reported.
  • Net decrease in net assets from operations of $(60,496,996) for the nine months ended September 30, 2026, driven by unrealized depreciation of $(50,206,666) and net realized loss of $(9,203,207).
  • Sponsor fees of $1,087,123 were the sole expense for the nine months ended September 30, 2026.
  • Capital share transactions added $106,333,887 net to assets over the nine-month period, with $119,910,923 in shares sold and $13,577,036 redeemed.

Canary XRP ETF Financial Position and Operations Through September 30, 2026

According to the filing, Canary XRP ETF (NASDAQ:XRPC) is a Delaware statutory trust formed on September 24, 2024, and managed by Canary Capital Group LLC as Sponsor. The Trust's sole investment objective is to seek exposure to the price of XRP, the native asset of the XRP Ledger, less operating expenses and other liabilities. Net asset value is established each business day by reference to the CoinDesk XRP Benchmark 60m NY Rate.

The filing disclosed total assets of $371,966,167 as of September 30, 2026, consisting primarily of investment in XRP at fair value of $368,802,432 and a receivable for XRP sold of $3,163,735. Total liabilities were $3,309,551, including a payable to the Sponsor of $145,811 and a payable for capital shares redeemed of $3,163,740. The net asset value per share declined from $19.58 at December 31, 2025 to $15.79 at September 30, 2026, while shares outstanding increased from 16,490,000 to 23,350,000 over the same period.

For the three months ended September 30, 2026, the filing reported a net increase in net assets from operations of $103,507,551, reflecting net unrealized appreciation of $109,490,137 partially offset by a net realized loss of $(5,612,361) and sponsor fees of $370,225. For the nine months ended September 30, 2026, the Trust recorded a net decrease in net assets from operations of $(60,496,996). The filing noted that no comparative prior-period figures are presented because the initial share purchase date of the Trust was November 12, 2025.

What Was Disclosed

Canary XRP ETF filed a 10-Q for the quarter ended September 30, 2026, disclosing unaudited statements of assets and liabilities, schedules of investments, statements of operations, and statements of changes in net assets. The Trust held 247,755,213 XRP with net assets of $368,656,616 at period end.