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FIGR_HELOC $1.00Canary XRP ETF Absorbs Entire $3.96 Million XRP Inflow on Sept. 28
Canary Capital's XRPC was the only U.S. spot XRP ETF to record net inflows on Sept. 28, taking the full $3.96 million while peers sat flat.
Key takeaways
- One fund took it all. Canary's XRPC absorbed the entire $3.96 million XRP ETF inflow on Sept. 28, with every other issuer flat.
- Canary trails two rivals. Bitwise leads with $676.29 million in cumulative net inflows, Franklin Templeton has $500.99 million, and Canary ranks third with $489.37 million.
- XRP traded near $1.50. XRP traded near $1.50 after tagging $1.60, $1.65 the prior week, and gained about 16.2% over the past week.
What happened
On Sept. 28, Canary Capital's XRPC absorbed the entire $3.96 million net creation into U.S. spot XRP ETFs, while every other XRP issuer posted flat flows. SoSoValue flow data confirmed the $3.9585 million figure after U.S. markets closed.
The print pushed Canary's cumulative net inflows to approximately $493 million, CoinGape reported, and the broader U.S. XRP spot ETF complex now sits at roughly $1.79 billion in lifetime net inflows.
Coinpedia reported that XRPC's net assets climbed above $372.1 million after the inflow, and that U.S. XRP ETFs have recorded 11 consecutive weeks of positive net inflows.
Why it matters
The concentration of the entire daily inflow in one fund is a signal for institutional allocators watching demand. Canary was the first to launch a direct-custody spot XRP ETF on Nasdaq in November 2025.
Wall Street firms are treating XRP wrappers as standard portfolio plumbing. Goldman Sachs returned as the largest XRP ETF holder with 1.76 million XRPC shares, and Citadel built a book that includes 79,500 XRPC call contracts.
Bitwise CIO Matt Hougan said financial advisers are more comfortable with XRP because of its long history and its connection to real-world uses, including stablecoins, cross-border payments and liquidity.
What the data shows
On the same day, Bitcoin ETFs added $31.07 million, Ethereum $17.10 million and Solana $12.70 million.
The week before, between Sept. 21 and 25, spot XRP ETF inflows topped $75.6 million, led by Bitwise and Franklin, with $22.65 million on Sept. 25 alone. For the week ending Sept. 25, weekly inflows jumped from $9.6 million to $75.59 million, a 691% increase, per Coinpedia.
Based on an XRP price near $1.54, the $3.96 million inflow represents roughly 2.57 million XRP tokens. Combined net assets across the five active funds grew 80% in Q3 to a record $1.79 billion.
Background
XRPC launched on Nasdaq in November 2025 as the first U.S. spot XRP product, debuting with $245 million in day-one inflows. The fund charges a 0.50% sponsor fee and holds actual XRP through custodians BitGo and Gemini, and CME overtook Binance as the largest XRP futures venue with open interest crossing $4.1 billion.
What is still unclear
- Canary's cumulative net inflows are reported as approximately $493 million by CoinGape and $489.37 million by Coinpedia.
- The reports do not explain why Bitwise, Franklin Templeton and other issuers posted flat flows while Canary took the full print.
Questions readers ask
How much did Canary XRPC take in on September 28?
Canary Capital's XRPC absorbed the entire $3.96 million net inflow into U.S. spot XRP ETFs that day. Every other XRP issuer posted flat flows.
How large is the U.S. spot XRP ETF market?
The complex sits at roughly $1.79 billion in lifetime net inflows, with total assets under management near $1.68 billion, according to CoinGape. Coinpedia says the five active funds have total net inflows above $1.79 billion.
Which XRP ETF leads by cumulative net inflows?
Bitwise leads with $676.29 million, followed by Franklin Templeton's XRPZ with $500.99 million and Canary with $489.37 million, per Coinpedia.
What is XRP's price?
XRP traded near $1.50 after tagging $1.60, $1.65 the prior week. Coinpedia reported XRP near $1.50 after gaining about 16.2% over the past week.
