XRP ETF holds a position of $1.5 billion, but investors face a book loss of approximately $375.5 million
Coinpaper
55m ago
Ai Focus
The US spot XRP ETF position is worth about $1.5 billion, but investors are facing an estimated unrealized loss of around $375.5 million. CryptoETF Today data shows that five related funds have seen a cumulative net inflow of $1.81 billion since November 2025, with an average entry price of about $1.72, which is higher than the XRP reference price of $1.36 on October 20th.
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Key Points

  • XRP ETF holds assets worth $1.5 billion, but the estimated losses are significant.
  • The average entry price for investors is approximately $1.72.
  • Cumulative net inflow of ETF still exceeds $1.8 billion

The US spot XRP exchange-traded fund currently holds assets worth about $1.5 billion, but due to the trading price of this cryptocurrency being far lower than the deployment price of the fund's capital, investors are facing an estimated unrealized loss of about $375.5 million.

The 5 funds covered by the data from October 20th have seen a cumulative net inflow of $1.81 billion since November 2025. However, their estimated average entry price is $1.72, while the reference price of this tracker on October 20th was $1.36.

The resulting estimated loss of 21.3% indicates that the gap between the ongoing demand for regulated XRP investment products and the actual performance of investors is widening.

XRP ETF Investors face an estimated 21% loss

According to the tracker of CryptoETF Today, the estimated average entry prices of the 5 funds covered are all higher than the reference price of XRP on October 20th.

The XRPC of Canary Capital is estimated to have incurred the largest loss in dollars, amounting to approximately 152.6 million US dollars, with an average entry price of 1.99 US dollars. The XRPZ of Franklin Templeton is about 97.5 million US dollars, and the XRP ETF of Bitwise has another loss of about 96.3 million US dollars.

These losses also occurred after a period of slowdown in demand for ETF; during that time, even though the cumulative investment approached $1.8 billion, the daily subscriptions also weakened.

Why couldn't the inflow of $1.8 billion protect the investors of XRP?

The difference between the cumulative cash flow and the current assets further illustrates the weakness of XRP.

The tracked funds have received approximately $1.81 billion in net subscriptions, but the value of their holdings is about $1.5 billion. However, this difference of $310 million does not exactly match the model's estimated unrealized loss of $375.5 million, as the two use different accounting methods.

Historical inflows reflect the funds that enter and exit these products, while the current net assets reflect their market value of the holdings.

Previous institutional buying efforts helped the US XRP fund's holdings exceed 1 billion tokens, but the price decline weakened the dollar value of this portion of the exposure.

Coinpaper has previously recorded consecutive 13 weeks of capital inflows. Despite the significant weekly decline in XRP, demand still remains positive in ETF.

Subsequently, this trend weakened, and funds began to flow out of the fund again.

Will holders of ETF who are in a loss-making state bring greater pressure to XRP?

The estimated entry price of $1.72 provides a reference for determining how much XRP needs to rebound and what average position in the model would be required to potentially break even.

At the same time, the recent increase in inflows to exchanges has raised concerns about potential selling pressure in the market. However, the deposits into exchanges do not necessarily prove that token holders have actually sold their tokens.

As we have previously reported, the holdings of institution ETF may reflect hedging and trading strategies, rather than simply long-term buying and holding.

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