A $1,000 investment in the Canary XRP ETF (NASDAQ: XRPC), the first U.S. spot XRP exchange-traded fund (ETF), is now worth about $471, reflecting a loss of more than 50% since the fund launched on November 13, 2025.
The decline comes despite a historic debut that saw the fund attract nearly $250 million in inflows and generate $58 million in trading volume on its first day, making it the strongest ETF launch of 2025.
Investors who bought XRPC at its launch price of $24.55 per share would have acquired approximately 40.73 shares. With the ETF closing at $11.57 on Friday, the value of that holding has fallen to roughly $471.
After debuting above $24 per share, XRPC entered a prolonged downtrend that at one point pushed losses beyond 56% from its launch level. In this line, while spot cryptocurrency ETFs simplify access to digital assets, they do not reduce the volatility associated with the underlying tokens.
The ETF was launched to provide regulated exposure to XRP by holding the cryptocurrency directly in custody.
Impact of XRP ETF launch
Its arrival marked a major milestone for both XRP and the broader digital asset sector, opening the door for traditional investors to access the token without using crypto exchanges or managing private wallets.
The success of the launch was quickly followed by competing products from issuers including Bitwise, Grayscale, Franklin Templeton, and 21Shares, reflecting growing institutional interest in XRP-linked investment products.
However, the fund’s performance has tracked XRP’s prolonged weakness. Since late 2025, the cryptocurrency has come under pressure from broader market uncertainty, weaker risk appetite, and post-launch profit-taking following the ETF-driven rally.
Despite the drawdown, XRPC continues to operate as a direct XRP investment vehicle with a 0.50% annual expense ratio and a structure designed to track the token’s market price closely.
Whether the fund can recover will largely depend on XRP’s future price performance, regulatory developments, and the pace of adoption of Ripple’s payment technology.
