- Grayscale XRP Trust holdings surged dramatically as institutional exposure expanded rapidly.
- Annual filing reveals XRP reserves jumped from 5 million to 122 million.
- Rising shares outstanding pushed Grayscale to acquire millions more XRP tokens.
Crypto analyst ChartNerd recently highlighted a major shift in institutional XRP exposure after reviewing the latest annual filing from Grayscale Investments. In a post shared on X, he pointed to data showing that the Grayscale XRP Trust ETF sharply expanded its XRP reserves within a single year. According to ChartNerd, the newly released filing reveals a 2,356% increase in XRP holdings linked to the trust’s portfolio growth.
The update followed the release of the trust’s Form 10-K filing covering the fiscal year ending December 31, 2025. The document outlines notable changes in both the asset composition and the capital structure of the investment product. Moreover, the filing provides a detailed breakdown showing how the trust’s XRP exposure expanded throughout the reporting period.
XRP Holdings Surge Within One Year
The report shows that the trust held approximately 4.97 million XRP at the end of 2024. By December 2025, that figure had climbed sharply to around 122.23 million XRP. Consequently, the trust accumulated more than 117 million additional XRP within the 12 months. Moreover, this increase represents an approximate 2,356% surge in the total XRP reserves held by the investment vehicle.
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Additionally, the filing indicates that the trust’s net assets reached roughly $223 million by the end of 2025. The document also confirms that XRP represents the entire portfolio allocation within the trust. Besides that, the report shows a notable increase in the number of shares issued during the year. Outstanding shares rose from roughly 2.76 million to about 6.3 million.
Consequently, the expansion in shares required the trust to acquire additional XRP. This mechanism ensures that every issued share remains backed by the underlying digital asset held by the fund. Moreover, the filing indicates that the net asset value per share stood near $35.45 during the reporting period. This figure reflects the relationship between the trust’s total assets and the number of shares in circulation.
Institutional Demand Drives XRP Accumulation
The sharp increase in XRP holdings suggests that demand for regulated crypto exposure strengthened during 2025. As investors purchased more shares of the trust, Grayscale expanded its XRP reserves to maintain asset backing.
Consequently, capital inflows into the investment product translated directly into additional token purchases. Moreover, the trust structure ensures that the value of issued shares remains linked to the underlying XRP holdings.
Additionally, the report confirms that XRP represents 100% of the trust’s investment portfolio. The rapid rise in holdings highlights how institutional exposure to digital assets can expand through structured investment vehicles.
However, the annual report also shows that the trust recorded negative performance during the period. The filing lists a total return of approximately negative 14.93%, reflecting XRP price volatility during the year.
Grayscale’s latest annual filing confirms a significant increase in XRP exposure through its investment trust. The product expanded its holdings by roughly 2,356% within a year, showing how institutional capital flows can rapidly increase digital asset accumulation through regulated investment structures.
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