Grayscale’s XRP holdings have fallen by more than half, according to figures highlighted by crypto analyst Steph Is Crypto. The data highlights a significant reduction in the XRP in the trust
Grayscale’s XRP holdings have fallen by more than half, according to figures highlighted by crypto analyst Steph Is Crypto. The data highlights a significant reduction in the XRP in the trust during the first half of 2026, with the remaining balance standing at roughly 55 million XRP by June 30.
The development provides a clear look at how the trust’s XRP position changed over the period and comes as XRP continues to trade below the levels seen at the end of 2025.
In a recent post, Steph Is Crypto stated that Grayscale had sold more than $67 million worth of XRP and reduced its holdings by more than 50%. The accompanying financial statement shows that the trust held approximately 122.23 million XRP at the end of December 2025.
By June 30, 2026, that balance had declined to approximately 55.04 million XRP. This represents a reduction of roughly 67.2 million XRP, meaning the trust held less than half of its previous quantity six months earlier.
The filing also records the fair value of XRP at $1.04 on June 30, compared with $1.83 at the end of 2025. Based on those respective prices, the trust’s XRP holdings had a fair value of approximately $57.43 million at the end of June, compared with approximately $223.36 million six months earlier.
The document shows several transactions affecting the trust’s XRP balance, including XRP redeemed, XRP distributed for the sponsor’s fee, and realized and unrealized changes in value.
JUST IN: Grayscale has sold over $67,000,000 worth of $XRP, cutting its holdings by more than 50%. pic.twitter.com/Y33SbkNbHp
— STEPH IS CRYPTO (@Steph_iscrypto) August 6, 2026
The post drew reactions from XRP market participants, with some focusing on the implications of the reduced institutional holdings.
Rick Wilson suggested that institutions could also decide to exit positions when an asset has generated substantial losses. He claimed that many investors who purchased XRP ETFs could currently be in losses and interpreted XRP’s difficulty recovering from recent lows as a possible indication of further downside.
While his comment reflected a bearish interpretation of the data, the filing itself does not establish that all XRP ETF investors are currently losing money or that XRP must decline further.
Another commenter, DAMAGE, provided additional context about Grayscale’s previous activity. He claimed that the company had already sold approximately $180 million worth of XRP at the beginning of 2026 because of financial issues, while still holding around 55 million XRP.
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The financial statement provides a more specific picture of the trust’s position. Grayscale’s XRP balance declined from more than 122 million tokens at the end of 2025 to about 55 million by June 30, 2026.
The filing also states that the trust determines XRP’s fair value using the price provided at 4 p.m. New York time by Coinbase, which it considers the trust’s principal market.
Steph Is Crypto’s post therefore highlights a substantial reduction in Grayscale’s XRP holdings, while the accompanying figures show that the change involved multiple trust transactions and valuation adjustments. The remaining balance of roughly 55 million XRP indicates that, despite the reduction, the trust continued to hold a significant XRP position at the end of June.
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