SEC filing shows viral $71 million XRP ETF claims are out by 1,000x
Brookstone Capital Management’s June 30 13F disclosed 12,380 shares of Volatility Shares’ XRP ETF (CUSIP 92864M780) valued at $71,059. Social media misread this as a $71 million position by applying the pre-2023 SEC convention that reported values in thousands. Under current SEC rules, 13F values are reported in actual dollars, so the filing means $71,059, not $71 million. The per-share value is about $5.74, which also makes the $71 million interpretation implausible. Brookstone’s March 31 filing showed 11,144 shares valued at $84,469, indicating the position increased in shares but fell in reported value. The ETF is XRPI, a XRP futures product that does not hold XRP itself, so the disclosure reflects discretionary holdings in the fund, not direct XRP ownership.
