A single $2.47 million withdrawal from Canary Capital's XRPC tipped US spot XRP funds into the red for the first time since mid-July
US spot XRP ETFs just had their first losing week in months. The funds recorded $1.84 million in net outflows for the week ending October 16, 2026, ending a 13-week run of consecutive inflows.
The streak had been running since early July. This is the first week of negative flows since mid-July, which means the products went through most of a summer and early fall without a single net-negative week.
Most of the damage came from a single product on a single day. Canary Capital’s XRPC saw $2.47 million leave on October 16.
That one withdrawal was bigger than the net outflow for the whole week. Put plainly, without that session, the week would likely have closed in positive territory.
The rest of the week was fairly calm. Other sessions saw flat activity or modest inflows, including a mid-week gain of approximately $740,400.
Cumulative inflows into US spot XRP ETFs since their launch in November 2025 total approximately $1.8 billion. Measured against that, last week’s net outflow works out to roughly a tenth of a percent of everything that has flowed in.
Total net assets across the products sit at around $1.47 billion to $1.57 billion, depending on the reporting date. The gap between cumulative inflows and current assets reflects how the value of the underlying XRP holdings has moved since money arrived.
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The issuer leaderboard has stayed fairly stable. Bitwise, Franklin Templeton, and Canary Capital lead by inflows and assets under management, while Grayscale and 21Shares trail behind.
XRP funds did not have a rough week in isolation. Bitcoin , Ethereum , and Solana ETFs also reported withdrawals amid broader volatility in the crypto market. XRP itself traded near $1.30 during the period.
Breadth of flows. If next week’s outflows, should there be any, spread across Bitwise, Franklin Templeton, Grayscale, and 21Shares rather than concentrating in one fund, that would point to a broader shift in sentiment. Concentrated moves are easier to dismiss.
Canary Capital’s XRPC specifically. A single large redemption can be a one-off portfolio decision. Repeated large redemptions from the same product would suggest something more persistent, whether a reallocation by a major holder or a preference for competing issuers.
The cross-asset picture. Because Bitcoin, Ethereum, and Solana ETFs were also bleeding, XRP flows are likely to keep tracking overall risk appetite in crypto. If the broader ETF complex stabilizes and XRP funds keep losing money, that would be a more meaningful warning sign than this week’s dip.
The XRP price. With XRP near $1.30, fund flows and price action can feed each other. Weak prices can prompt redemptions, and redemptions can add selling pressure on the underlying asset.