Grayscale XRP Position Drops 27% to 12.3M Tokens in New SEC Filing

Grayscale’s CoinDesk Crypto 5 ETF ended fiscal 2026 holding 12.30 million XRP, a sharp reduction from the 16.87 million XRP reported one year earlier, according to a newly filed annual report with the U.S. Securities and Exchange Commission.

The position fell by roughly 4.57 million XRP, or 27.1%, between June 30, 2025 and June 30, 2026. Its reported fair value dropped even more dramatically, from approximately $39.14 million to $12.83 million, a decline of about 67%.

XRP-focused researcher BankXRP highlighted the change shortly after Grayscale’s FY2026 Form 10-K appeared in SEC records. The filing was submitted Sept. 3 and covers the fiscal year ended June 30, 2026.

What actually happened to Grayscale’s XRP?

The headline decline does not mean Grayscale simply sold 4.57 million XRP because of a bearish investment decision.

The filing provides a more detailed breakdown.

During fiscal 2026, the fund received about 3.00 million XRP in contributions, while approximately 7.44 million XRP were redeemed. Another 153,534 XRP were distributed for management fees, while portfolio rebalancing contributed a net 11,912 XRP.

The fund also recorded approximately $28.01 million in unrealized depreciation on XRP during the year. Separately, XRP transactions associated with share redemptions generated a realized gain of roughly $12.19 million.