Key points
- The XRP ETF holds $1.5 billion in assets, but estimated losses are significant.
- The average entry price for investors is approximately $1.72.
- Cumulative ETF net inflows still exceed $1.8 billion.
The U.S. spot XRP exchange-traded fund currently holds approximately $1.5 billion in assets, but investors are facing an estimated $375.5 million in unrealized losses due to the cryptocurrency trading significantly below the fund’s deployment price.
As of October 20, the five funds covered by CryptoETF Today have recorded a cumulative net inflow of $1.81 billion since November 2025. However, their estimated average entry price for XRP is $1.72, while the tracker’s reference price on October 20 was $1.36.
The resulting 21.3% loss estimate highlights a growing gap between the sustained demand for regulated XRP investment products and investors' actual performance.
XRP ETF investors face an estimated 21% loss
According to CryptoETF Today’s tracker, the estimated average entry prices for the five covered funds are all higher than XRP’s reference price on October 20.
Canary Capital's XRPC incurred the largest estimated USD loss, approximately $152.6 million, with an average entry price of $1.99. Franklin Templeton's XRPZ amounted to approximately $97.5 million, and Bitwise's XRP ETF had an additional loss of approximately $96.3 million.
These losses also followed a period of slowing ETF demand, during which daily subscriptions weakened despite cumulative investments nearing $1.8 billion.
Why did $1.8 billion in inflows fail to protect XRP investors?
The difference between cumulative cash flow and current assets further illustrates XRP's weakness.
The tracked fund has received approximately $1.81 billion in net subscriptions, but its assets under management are valued at around $1.5 billion. However, this $310 million discrepancy does not exactly match the $3.755 billion unrealized loss estimate from the model, as the two use different accounting methods.
Historical inflows reflect the funds that have entered and exited these products, while current net assets reflect the market value of their holdings.
Previous institutional buying helped the U.S. XRP fund's holdings surpass 1 billion tokens, but the price decline has reduced the dollar value of this exposure.
Coinpaper previously recorded 13 consecutive weeks of net inflows, despite XRP's significant weekly decline, ETF demand remained positive.
Subsequently, this pattern weakened, and the fund experienced renewed outflows.
Will ETF holders in a loss position put additional pressure on XRP?
The estimated entry price of $1.72 serves as a reference for determining how much XRP needs to rebound for the average position in the model to approach breakeven.
Meanwhile, the recent increase in exchange inflows has heightened concerns about potential selling pressure; however, deposits to exchanges do not prove that holders have sold their tokens.
We have previously reported that institutional ETF holdings may reflect hedging and trading strategies, rather than simply long-term buy-and-hold positions.