Grayscale XRP ETF (GXRP) Sells $180.78 Million...75% of Net Assets 'Evaporates'

▲ XRP decline/ChatGPT generated image

Grayscale's XRP investment product sold tokens worth $180.78 million over six months.

According to crypto media outlet BeInCrypto on August 5 (local time), the Grayscale XRP Trust ETF (GXRP) sold 103.41 million XRP to process investor redemptions in the first half of 2026. The sale amount recorded in the second-quarter report submitted to the U.S. Securities and Exchange Commission (SEC) was $180.78 million.

Holdings plummeted from 122.23 million XRP at the end of 2025 to 55.04 million XRP on June 30. Net assets also decreased from $223.36 million in December last year to $57.41 million. In just six months, holdings more than halved, and net assets decreased by approximately three-quarters.

Although new funds flowed in, they could not keep up with the scale of redemptions. The Trust newly incorporated 36.27 million XRP, worth $66.58 million, in the first half. As outflows significantly increased more than inflows, the overall decline in holdings continued.

Realized losses of $34.16 million occurred from the XRP sold for redemptions. Unrealized losses of $17.47 million were also recorded on the remaining holdings. An additional realized loss of $39,000 occurred from separate sales to cover operating expenses.

The number of shares outstanding also decreased from 6.3 million at the end of 2025 to 2.84 million at the end of June. During the same period, the Trust redeemed 5.33 million shares and newly issued 1.87 million shares. Authorized participants processed investor share creations and redemptions, and regular XRP withdrawals to cover management fees also affected the decrease in holdings per share.

BeInCrypto explained that redemptions are transactions processed by authorized participants according to established procedures, not a judgment by the fund manager on the asset's outlook. However, the fact that GXRP lost more than half of its holdings and approximately three-quarters of its net assets in six months indicates a significant reduction in the product's size.

[Article Key Summary]

-The Grayscale XRP Trust ETF sold 103.41 million XRP for $180.78 million in the first half.

-Net assets decreased from $223.36 million to $57.41 million, and holdings also decreased by more than half.

-Realized losses of $34.16 million and unrealized losses of $17.47 million occurred from XRP redemption sales.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*