Grayscale’s XRP ETF Sold $180 Million in Tokens After Major Loss
Grayscale XRP Trust ETF disclosed promoting greater than $180 million in tokens through the first half of 2026, in response to a brand new SEC submitting that additionally revealed important realized losses.
The numbers present how sharply redemptions and falling costs have eroded belief over six months.
What the SEC Filing Actually Shows
A Form 10-Q is the quarterly report filed with the Securities and Exchange Commission (SEC) detailing monetary efficiency and holdings. Grayscale’s submission covers the interval ending June 30.
The headline determine stands out. The belief cashed out $180.78 million value of XRP, promoting 103.41 million tokens to redeem investor assets.
Holdings contracted dramatically in consequence. The belief held 122.23 million XRP on the finish of 2025, a determine that dropped to 55.04 million by June 30. Net property fell even sooner. The worth declined from $223.36 million in December to simply $57.41 million on the finish of June.
Inflows did arrive. The belief created a further 36.27 million XRP, contributions valued at $66.58 million. Those additions couldn’t offset the exits. Outflows considerably exceeded inflows, driving the sharp reduction in holdings.
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The mechanics contain licensed individuals, who deal with share creation and redemption primarily based on shares issued or redeemed. Sponsor charges added stress. Periodic XRP withdrawals overlaying these charges largely brought on the discount in holdings per share.
The Losses Behind the Redemptions
The losses inform their very own story. Grayscale recorded a realized lack of $34.16 million on XRP offered for redemptions, plus $17.47 million in unrealized losses on the remaining place.
A smaller entry seems additional down. Sales performed to offset working bills generated a further realized lack of $39,000.
Share counts mirrored the exodus. Outstanding shares dropped from 6.30 million on the finish of 2025 to 2.84 million by June 30, with the belief shopping for again 5.33 million shares whereas promoting simply 1.87 million.
Price motion explains a lot of the harm. XRP traded at $1.06 on the time of writing, down roughly 1.35% over 24 hours and nonetheless far under its cycle highs, in response to BeInCrypto data.
That decline compounds the redemption impact. Fewer tokens backing a less expensive asset produce the steep drop in internet asset worth in the submitting paperwork.
Leadership exercise had already drawn consideration. Chief Executive Peter Mintzberg sold part of his personal stake in GXRP earlier this year. Redemptions themselves are routine, nevertheless. Authorized individuals execute them mechanically, with out expressing any directional view on the asset.
The scale nonetheless warrants consideration. Losing half its holdings and three-quarters of its internet property inside six months marks a big contraction for the product.
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