Grayscale XRP Fund Suffers Another Blow as Market Hit Erases Q2 Gains

Grayscale's XRP fund suffered another blow after investors poured millions back into it in Q2, only to see a $16.8M market hit instantly wipe out the gains.

The six-month bleed has left the trust with net assets of just $57.413 million, down from $165 million since January.

Despite adding 480,000 shares in Q2, which helped cover only 12.2% of its first-quarter contraction, the fund's XRP balance grew by a modest 20.2% to reach 55.036 million XRP at June 30.

The fund's operating losses outweighed new share capital in Q2, with $16.846 million in losses cutting net assets down from $61.516 million at the end of March.