One XRP ETF ate the whole $3.96M lunch — and it wasn't the names you'd expect 🍴

Canary Capital's spot XRP ETF (ticker: XRPC) absorbed the entire $3.96 million in net inflows into U.S. XRP spot ETFs on September 28, with every other issuer recording zero net movement for the session, according to SoSoValue flow data. The print lifted Canary Capital XRPC's cumulative net inflows to approximately $493 million and pushed the lifetime inflows of the broader U.S. XRP spot ETF complex to roughly $1.79 billion.

Bitwise, Franklin Templeton and the remaining XRP spot ETF issuers posted no net creations or redemptions on the day, leaving the $3.9585 million net inflow entirely concentrated in XRPC. Market data cited in the report placed the daily net inflow figure at $3.96 million.

Behind the flow, disclosure filings showed institutional positioning shifting. Goldman Sachs re-emerged as the largest disclosed holder of XRPC with 1.76 million shares, while Citadel Securities built a 79,500-contract call book tied to the fund. The combination of single-issuer concentration in the daily flow and the reappearance of large disclosed holders was framed in the original reporting as a signal of institutional demand.

The session marked the latest in a steady run of inflows into U.S. spot crypto ETFs, with September 28 again routing entirely through the Canary Capital product for the XRP segment. SoSoValue confirmed the figure after U.S. markets closed, and no other XRP spot ETF reported a net creation or redemption on the date.