Grayscale's XRP Trust ETF sold $180.78 million worth of XRP in the first half of 2026, according to a new SEC filing, as investor redemptions drove its holdings from 122.23 million XRP down to 55.04 million XRP. The trust also booked a $34.16 million realized loss on those sales.
Grayscale's XRP Trust ETF sold $180.78 million worth of Ripple's XRP in the first six months of 2026, according to a new SEC Form 10-Q filing. The trust redeemed 103.41 million XRP to meet investor withdrawals, sharply thinning its holdings.
The fund held 122.23 million XRP at the end of 2025. That figure fell to 55.04 million XRP by June 30, 2026, and net assets dropped from $223.36 million to $57.41 million over the same six months.
Redemptions Outpaced New Inflows
Grayscale did add XRP during the period. Authorized participants created 36.27 million XRP worth $66.58 million in new shares. Yet the outflows were far larger than those inflows, and the gap drove the steep drop in holdings.
The filing ties the swing to the trust's creation-and-redemption process, in which authorized participants add or remove XRP as they issue or redeem shares. It also notes that the decline in XRP held per share was largely caused by periodic withdrawals used to pay the sponsor's fee.
Losses Pile Up as Shares Shrink
The trust recorded a $34.16 million realized loss on XRP sold to cover redemptions, plus a separate $39,000 realized loss on XRP sold to cover expenses.
Shares outstanding fell from 6.30 million at the end of 2025 to 2.84 million by June 30, 2026. Grayscale sold 1.87 million shares and bought back 5.33 million shares during the period.
The filing follows an earlier disclosure that Grayscale CEO Peter Mintzberg sold part of his stake in the GXRP ETF.
Source: SEC
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