Grayscale XRP Trust ETF sold more than $180 million in tokens during the first half of 2026, according to a new SEC filing that disclosed the sales occurred to meet redemption demands. The trust cashed out $180.78 million worth of XRP by selling 103.41 million tokens during the period ending June 30, as detailed in its Form 10-Q quarterly report filed with the Securities and Exchange Commission. The sales were driven by sharply elevated redemptions combined with falling XRP prices, which together eroded the trust's net asset value over six months. The filing also revealed the trust recorded $34.16 million in realized losses on tokens sold for redemptions, plus $17.47 million in unrealized losses on its remaining position. Form 10-Q quarterly reports are mandatory SEC filings that detail financial performance and holdings for investment products, providing transparency into asset flows and portfolio changes.
Grayscale XRP Trust Holdings Contracted from 122 Million to 55 Million Tokens
The trust held 122.23 million XRP at the end of 2025, a figure that dropped to 55.04 million by June 30. Net assets fell from $223.36 million in December to $57.41 million at the end of June.
Inflows did arrive during the period. The trust created an additional 36.27 million XRP, contributions valued at $66.58 million. Those additions could not offset the exits, as outflows substantially exceeded inflows.
The mechanics involve authorized participants, who handle share creation and redemption based on shares issued or redeemed. Sponsor fees added pressure. Periodic XRP withdrawals covering those fees largely caused the reduction in holdings per share.
Outstanding shares dropped from 6.30 million at the end of 2025 to 2.84 million by June 30, with the trust buying back 5.33 million shares while selling 1.87 million.
Trust Recorded $34 Million Realized Loss on Redemption Sales
The trust recorded a realized loss of $34.16 million on XRP sold for redemptions, plus $17.47 million in unrealized losses on the remaining position. Sales conducted to offset operating expenses generated an additional realized loss of $39,000.
XRP traded at $1.06 at the time of writing, down roughly 1.35% over 24 hours and still far below its cycle highs, according to BeInCrypto data. That decline compounds the redemption effect, as fewer tokens backing a cheaper asset produce the steep drop in net asset value documented in the filing.
Chief Executive Peter Mintzberg sold part of his personal stake in GXRP earlier this year. Redemptions themselves are routine, however, as authorized participants execute them mechanically without expressing any directional view on the asset.
FAQ
What did Grayscale XRP Trust ETF disclose in its SEC filing for the first half of 2026?
Grayscale XRP Trust ETF disclosed selling $180.78 million worth of XRP tokens (103.41 million tokens) during the period ending June 30. The trust also reported holdings dropped from 122.23 million XRP at the end of 2025 to 55.04 million by June 30, while net assets fell from $223.36 million in December to $57.41 million at the end of June.
How much loss did the trust record on its XRP sales?
The trust recorded a realized loss of $34.16 million on XRP sold for redemptions, plus $17.47 million in unrealized losses on its remaining position. An additional realized loss of $39,000 was generated from sales conducted to offset operating expenses.
