TL;DR
U.S. XRP ETFs have recorded $1.81 billion in net inflows since November 2025. Their current assets stand at approximately $1.5 billion.
An estimation model puts unrealized losses at $375.5 million, equivalent to 21.3% of the positions analyzed.
The estimated average entry price is $1.72 per XRP, compared with the $1.36 reference price used in the analysis.
U.S. spot XRP ETFs have accumulated $1.81 billion in net inflows, but their investors face estimated unrealized losses of $375.5 million . The five funds analyzed hold approximately $1.5 billion in assets, according to data as of October 20.
The analysis estimates an average purchase price of $1.72 per XRP , compared with a reference price of $1.36 . The difference represents an estimated 21.3% loss , despite the capital that has flowed into these products since November 2025.
The figures come from a model based on historical ETF share creations, redemptions, and XRP prices. They do not represent realized losses or the actual purchase prices paid by individual investors.
All Five XRP ETFs Face Estimated Losses
Canary Capital’s fund has the largest estimated loss at $152.6 million , with an average entry price of $1.99.
Franklin Templeton follows, with its fund facing estimated losses of $97.5 million , while Bitwise accounts for approximately $96.3 million .
Grayscale has an estimated loss of $28.8 million , while 21Shares’ TOXR shows approximately $107,000 in losses.
All five products have estimated average acquisition prices above the reference price used in the analysis. However, ETF shares also trade between investors, meaning individual returns can differ considerably .
Capital Inflows Exceed the Current Value of ETF Assets
The funds have received $1.81 billion in net subscriptions , but currently manage approximately $1.5 billion.
The roughly $310 million difference is not equivalent to the estimated $375.5 million in unrealized losses, as the two figures are calculated using different accounting methods.
Activity has also slowed. On October 20, the funds analyzed recorded no net share creations or redemptions , following a period of sustained inflows and subsequent withdrawals.
The estimated average price of $1.72 provides a reference point for assessing a potential recovery in the positions analyzed, although it is not a confirmed technical resistance level .
XRP deposits to exchanges have also raised concerns about potential selling pressure, but transfers to trading platforms do not confirm that holders have sold their tokens .
