Bitwise XRP ETF Sees Reported $3.58M Redemption Amid Token Weakness

The Bitwise XRP ETF reported a $3.58 million outflow on August 5, sparking attention from investors and analysts.

The fund's holdings page showed that it held 293.9 million XRP as of August 4, valued at $314.39 million. The net asset value per share was $11.95.

Redemptions are a normal part of the ETF's operations, and the fund can settle redemptions in two ways: by transferring XRP to an authorized participant or by selling XRP for cash proceeds.

The reported outflow is a shareholder redemption, not a discretionary decision made by Bitwise. It does not necessarily indicate that Bitwise has changed its view of XRP.