Investors poured millions back into Grayscale’s XRP fund, but a $16.8M market hit instantly wiped out the comeback
GXRP recovered some Q2 demand, adding 480,000 net shares after a derived 3.94 million-share Q1 contraction, but 87.8% of that earlier loss remained unrecovered at June 30. Over the first half, the trust issued 1.87 million shares and redeemed 5.33 million, for a net decline of 3.46 million shares. Q2 share activity brought in $12.743 million of net capital, but a $16.846 million loss from operations reduced net assets to $57.413 million from $61.516 million at March 31. Most of the operating loss came from investment performance, including a $16.327 million drop in unrealized appreciation and smaller realized losses tied to XRP sales. XRP holdings rose 20.2% in Q2 to 55.036 million XRP, though they remained 55.0% below year-end 2025 levels. In the first half, net assets fell $165.951 million, with $114.203 million driven by capital-share transactions and $51.748 million by operations. GXRP reported 2,840,100 shares outstanding on both June 30 and July 30.
