Ripple's XRP ETFs marked their one-year anniversary in November 2026, with spot trading funds accumulating over 1.16 billion tokens during that period. The funds achieved cumulative net inflows of $1.79 billion, with particularly strong performance in their opening months.
Early momentum and current landscape
The first six weeks following the November 2025 launch of Canary Capital's XRPC generated $666.61 million in inflows, followed by $500 million in December. The funds posted net inflows in all but one month during their first year—March being the exception. Canary Capital's XRPC, once the first-mover advantage holder, now ranks as the third-largest XRP ETF, trailing Bitwise's XRP and Franklin Templeton's XRPZ.
Recent performance has weakened, with $19.66 million in net outflows recorded during the first two weeks of November 2026.
Scale in context
While 1.16 billion tokens accumulated by the ETFs represents a notable figure, it comprises less than 1.6% of XRP's 63.51 billion circulating supply. By comparison, Bitcoin ETFs have captured approximately 6% of total BTC supply. The monthly XRP releases from Ripple escrow—approximately 1 billion tokens at the start of each month—mean the ETFs required a full year to accumulate what the company releases in a single month.
Price performance concerns
The most significant challenge for the ETF ecosystem centers on XRP's price movement over the period. The token traded at $2.30-$2.40 when the first ETF launched in November 2025, but has since declined to $0.90, representing a 60% decrease over 12 months. Despite institutional investment products helping legitimize XRP's market presence, the funds have not provided sufficient support to insulate the asset from broader market declines.
