Xrp Trust Shares And Holdings Plunge In First-Half Filing

What Happened

The filing documents sales of XRP for share redemptions and for expenses, as well as changes in the trust’s XRP holdings and share count. Redemptions may require token sales to meet investor withdrawals, while authorized participants handle share creation and redemption.

Market Context

This news dropped as XRP USD trades for $1.02, dangerously close to losing its key support at $1 following a -0.2% drop overnight. Daily trading volume is sitting at $732M, up from $670M yesterday.

XRP Price and Fund Flows

The US Senate delayed consideration of the crypto market-structure legislation known as the CLARITY Act until at least September. Regulatory developments, institutional demand, and Ripple’s XRP holdings are among the factors that can influence XRP’s price.

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Why It Matters

Grayscale’s XRP Trust ETF sold 103.41 million XRP worth $180.78M during the first half of 2026, reducing its holdings from 122.23 million tokens at the end of 2025 to 55.04 million by June 30, according to a Ripple SEC filing, marking a worrying drop in institutional adoption for the digital asset.

CoinGlass data shows that XRP ETF net inflows total $1.42Bn since they went live in November 2024, a healthy number that puts into perspective the size of Grayscale’s ETF selloff.

Details

The Mechanics Behind the Contraction

The value of the trust’s XRP holdings fell from $223.36M at the end of 2025 to $57.41M on June 30, according to the SEC filing. Grayscale recorded a $34.16M realized loss on XRP sold for share redemptions, along with a $17.47 million unrealized loss on its remaining XRP position.

The trust created an additional 36.27M XRP valued at $66.58M during the six-month period, but those additions did not offset the redemptions. Outstanding shares declined from 6.30 million at the end of 2025 to 2.84 million by June 30.

The trust bought back 5.33 million shares and sold 1.87 million shares during that period. It also recorded a $39,000 realized loss on XRP sold to cover expenses.

Authorized participants are responsible for creating and redeeming shares in the trust. The filing also attributes the reduction in XRP holdings per share to periodic XRP withdrawals used to meet the sponsor’s fee.

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XRP declined from $1.84 on Jan. 1 to $1.05 on June 30, a drop of more than 40%. The token traded between $1.015 and $1.041 on Aug. 7, placing it near the bottom of its 52-week range of $1.0095 to $3.3818.

Weekly inflows into XRP exchange-traded funds dropped to about $1M from $14.9M the previous week, although daily flows rebounded to roughly $3.5M on Aug. 6, according to CoinGlass data. XRP was down roughly 10% over the prior month and about 5.5% over the seven days through Friday.

Ripple released 1 billion XRP from escrow on Aug. 1 as part of its scheduled monthly unlock. The company has historically returned a substantial portion of its monthly releases to escrow rather than putting all of the tokens into circulation.

What the Ripple SEC Filing Establishes

The trust’s XRP holdings fell by more than half between the end of 2025 and June 30, while the value of those holdings declined from $223.36M to $57.41M. The filing also shows that XRP creations during the period were smaller than the XRP sold for redemptions.

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