Grayscale slashes XRP holdings by 27% in Crypto 5 ETF, fair value drops 67%

Grayscale’s CoinDesk Crypto 5 ETF ended its 2026 fiscal year with 12.30 million XRP, marking a sharp decrease from 16.87 million XRP a year earlier. This substantial reduction appeared in Grayscale’s latest annual filing with the U.S. Securities and Exchange Commission for the fiscal period ending June 30, 2026.

XRP allocation and fund flows

Between June 2025 and June 2026, the ETF’s XRP position fell by approximately 4.57 million XRP, equal to a 27.1% decline. Over the same period, the fund reported a much larger decrease in the fair value of its XRP holdings—from about $39.14 million down to $12.83 million, reflecting a drop of roughly 67%.

XRP-focused researcher BankXRP identified these figures shortly after the SEC published Grayscale’s fiscal 2026 Form 10-K on September 3. The document clarified that the change in XRP holdings was not simply the result of direct sales or bearish bets on the asset.

During the fiscal year, the CoinDesk Crypto 5 ETF received approximately 3.00 million XRP in new contributions. At the same time, about 7.44 million XRP were redeemed by investors. An additional 153,534 XRP were distributed to cover management fees, and portfolio rebalancing resulted in a net addition of 11,912 XRP to the fund’s holdings.