Here are the 10-Q quarterly reports from Grayscale XRP Trust ETF (GXRP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GXRP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GXRP filings page.
Grayscale XRP Trust ETF (GXRP) reported third-quarter and nine-month 2026 results. At September 30, 2026, the Trust held 65,442,141.123057 XRP valued at $97.417 million, and net assets were $97.417 million, compared with $223.364 million at December 31, 2025. Principal Market NAV per Share was $28.82, compared with $35.45 at year-end. XRP was the Trust’s sole investment, so its net asset value and results are directly affected by XRP’s price.
For the three months ended September 30, operations increased net assets by $26.082 million and total return was 42.53%. XRP’s principal-market price rose from $1.04 at June 30 to $1.49 at September 30. The Trust issued 540,000 shares valued at $13.922 million and redeemed no shares during the quarter.
For the nine months ended September 30, operations decreased net assets by $25.666 million and total return was -18.70%. XRP’s principal-market price moved from $1.83 at December 31, 2025, to $1.49; net assets decreased 56%. The Trust redeemed 5,330,000 shares valued at $180.780 million and issued 2,410,000 shares valued at $80.499 million. The Sponsor’s Fee is 0.35% of assets less liabilities; the temporary fee waiver expired February 25, 2026.
Grayscale XRP Trust ETF, a passive vehicle holding XRP, reported materially weaker results as XRP prices declined and investors redeemed shares. Net assets fell to $57.4 million at June 30, 2026 from $223.4 million at December 31, 2025, a 74% decrease, while the Principal Market NAV per Share dropped to $20.22 from $35.45. XRP held declined from 122.2 million to 55.0 million XRP, reflecting both redemptions and XRP used to pay fees.
For the first half of 2026 the Trust recorded a net realized and unrealized loss on XRP of $51.7 million, including a $34.2 million realized loss on XRP sold to meet redemptions and $17.5 million of unrealized depreciation as the principal-market XRP price fell from $1.83 to $1.04. Total return was -42.96%. During the period 1.87 million shares were created and 5.33 million redeemed, leaving 2,840,100 shares outstanding. The Sponsor’s Fee is now 0.35% annually, with the Sponsor continuing to pay most ordinary expenses. The Trust highlights significant concentration risk in XRP and notes that disclosure controls were deemed effective, with no new legal proceedings or risk factors reported.
Grayscale XRP Trust ETF reported a sharp contraction in Q1 2026 as XRP prices fell and investors redeemed shares. Net assets dropped to $61.5 million at March 31, 2026 from $223.4 million, while Principal Market NAV per share declined to $26.06 from $35.45, a -26.49% total return for the quarter.
The Trust held about 45.8 million XRP, down from 122.2 million, as roughly 5.3 million shares were redeemed for $180.1 million of XRP, partly offset by $53.1 million of creations. Net loss from operations was $34.9 million, driven almost entirely by realized and unrealized losses on XRP as its principal-market price fell from $1.83 to $1.34. Operating costs remained modest, with the Sponsor’s Fee reduced to 0.35% and partially waived for part of the period.