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Canary Capital’s XRP Trust Reported 194.9 Million XRP Worth $261.9 Million

According to the firm’s Q1 10-Q filing, the XRP-focused trust held 194.9 million XRP as of March 31, providing a snapshot of the vehicle’s asset base.

XRP

Fact Check
The SEC EDGAR filing index (accession 0001999371-26-010641) confirms that Canary XRP ETF filed a genuine Form 10-Q on 2026-05-13 for the quarter ended March 31, 2026, directly validating the existence of the Q1 10-Q referenced in the claim. CoinDesk, a primary crypto news outlet, reported the exact figures of 194.9 million XRP worth $261.9 million as of March 31. These figures are mathematically consistent (194.9M XRP at ~$1.343/XRP ≈ $261.9M). Multiple independent sources corroborate the same numbers with no conflicting reports found. The minor residual uncertainty (7%) reflects that the full 10-Q document text was not fully parsed to confirm the exact XRP quantity figure directly from the filing body, though all available evidence strongly supports the claim.
Summary

Canary Capital disclosed in its first-quarter 10-Q filing that its XRP Trust held 194.9 million XRP valued at $261.9 million as of March 31. The filing gives investors a formal balance-date view of the trust’s crypto holdings and indicates the scale of the firm’s exposure to XRP through a dedicated investment vehicle. A 10-Q filing is a quarterly financial report submitted by public companies in the United States, and it is commonly used by market participants to track reported assets, liabilities, and changes in investment positions.

Terms & Concepts
  • XRP Trust: An investment vehicle designed to hold XRP on behalf of investors, offering exposure to the token without requiring direct custody by each investor.
  • 10-Q filing: A quarterly report filed with the U.S. Securities and Exchange Commission (U.S. markets regulator) that provides updated financial and operational information.
  • XRP: A cryptocurrency associated with the XRP Ledger, a blockchain network used for digital asset transfers and related payment use cases.