21Shares XRP ETF Plunges 54% as Redemptions Worsen Crypto Loss
The 21Shares XRP ETF (TOXR) has lost more than half of its assets in just six months, as falling XRP prices combined with heavy redemptions to crystallize a $13.36 million loss.
According to the fund's quarterly filing on August 11, TOXR ended June with $112.9 million in net assets, down 54.4% from $247.7 million at the end of December.
XRP prices fell by 42.9% over the same period to $1.0431, while the fund's outstanding shares dropped 20% to 11.11 million from 13.89 million.
The difference shows how investor withdrawals amplified the damage from XRP's price decline. TOXR recorded $75 million of redemption distributions during the half against $25.5 million contributed through creations, leaving the fund with $49.5 million in negative net capital transactions.