Canary XRP ETF 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. The Shares of the Trust are listed in the accompanying table. The date the Shares of the Trust began trading, their symbols and their primary listing exchange are indicated below: Trust Commencement of Operations Ticker Symbol Name of each exchange on which registered Canary XRP ETF November 12, 2025 XRPC The Nasdaq Stock Market, LLC As of February 25, 2026, there were approximately 77 DTC participating Shareholders of record of the Trust. Because the Trust’s Shares are held by brokers and other institutions on behalf of Shareholders, we are unable to estimate the total number of Shareholders represented by these record holders. The Trust made no distributions to Shareholders during the period ended December 31, 2025. The Trust has no obligation to make periodic distributions to Shareholders. a) On November 12, 2025, Canary Capital Group, Inc. purchased 10,000 Shares at a per-Share price of $25.00 (the “Seed Shares”) in an in-kind transaction exempt from registration under Section 4(a)(2) of the 1933 Act. Total proceeds to the Trust from the sale of the Seed Share was $250,000 in XRP. The Trust’s Shares began trading on the Exchange on November 13, 2025 and since that date, through December 31, 2025 (excluding any redemptions), the Trust sold 16,550,000 Shares for aggregate proceeds of $394,112,370, including the Seed Shares. b) Not applicable. c) There was one redemption during the period from inception on November 12, 2025, through December 31, 2025. The following table provides information about XRPC’s redemptions by Authorized Participants during the three months ended December 31, 2025: d) Calendar Month Number of Shares Redeemed Average Price Paid per Share November 2025 0 — December 2025 60,000 $ 19.69 Total 60,000 $ 19.69 18 Item 6. [Reserved]