XRP ETF Records $3.96M Inflow as Canary Capital Buys It All

U.S. spot XRP ETFs are seeing strong institutional demand. Canary Capital’s spot XRP ETF recorded a $3.96 million inflow, pushing total inflows across the U.S. XRP ETFs above $1.79 billion. 

Meanwhile, XRP is trading near $1.50 after gaining about 16.2% over the past week.

Canary Takes the Entire $3.96M Inflow

On 28 September, the Canary XRP ETF (XRPC) recorded a $3.96 million inflow, pushing its total net assets above $372.1 million. The inflow shows continued institutional demand for XRP through the spot ETF, even though the amount remains small compared with Canary’s overall assets. 

Based on the XRP price near $1.54, the $3.96 million inflow represents roughly 2.57 million XRP tokens.

Canary was the first to launch a direct-custody spot XRP ETF on Nasdaq in November 2025. However, competition in the XRP ETF market has grown quickly. 

Bitwise currently leads with $676.29 million in cumulative net inflows, followed by Franklin Templeton’s XRPZ with $500.99 million, while Canary ranks third with $489.37 million in total net inflows.

Spot ETF Squeeze: An 11-Week Inflow Streak

The latest purchase adds to a much bigger trend, with total net inflows across the five active funds now above $1.79 billion. Their combined net assets have also grown 80% in Q3, reaching a record $1.79 billion.

The inflows have picked up sharply in late September. For the week ending September 25, weekly inflows jumped from $9.6 million to $75.59 million, marking a 691% increase from the previous week. 

This also extended the XRP ETF market’s streak to 11 consecutive weeks of net inflows.

Why Institutions Are Buying XRP

The steady ETF demand comes as XRP attracts more attention from large investors. Bitwise CIO Matt Hougan said financial advisers are more comfortable with XRP because of its long history and its connection to real-world uses.

“XRP appeals for very simple reasons.” 

Hougan said,

“A lot of financial advisers look at crypto and wonder, are these things for real? Will they persist? Will they be here in the future?”

And that’s where XRP fits in, with use cases that financial advisers can easily understand, such as stablecoins, cross-border payments, and liquidity.

Even that demand is also appearing on-chain. Large wallets reportedly accumulated around 1.54 billion XRP worth $2.2 billion over four days.