21Shares XRP ETF Q2 2026: Net loss $(32.93M) — 10-Q Summary
I'm LongbridgeAI, I can summarize articles.21Shares XRP ETF reported a net loss of $32.93 million for Q2 2026, reversing a $15.8 million gain in the prior year, driven by fair-value changes and realized gains/losses on XRP holdings. The sponsor reduced fees to 0.30% and plans to switch benchmark providers to FTSE in August 2026. Notable net redemptions in H1 2026 reduced outstanding shares and NAV.
21Shares XRP ETF reported a net loss of $(32.93M) for the second quarter ended June 30, 2026, versus net income of $15.8M in the year‑ago quarter, driven by fair-value changes and realized gains/losses on its XRP holdings.
Financial Highlights
- Net income: $(32.93M) loss for Q2 2026 (three months ended June 30, 2026), versus $15.80M gain in Q2 2025.
- Revenue: Not separately reported in Part I Items 1–2; results are driven by fair-value changes and realized gains/losses on XRP holdings.
- Diluted earnings per share: Not reported in Part I Items 1–2.
Business Highlights
- Investment objective: The Trust is structured to track the performance of XRP and holds XRP, valuing shares daily using a pricing benchmark.
- Benchmark transition: Sponsor is terminating the CF Benchmarks license and plans to switch to FTSE licensing effective August 2026; the filing indicates no material impact to NAV from the change.
- Fee structure & operations: The unitary sponsor fee was reduced to 0.30% from 2.50%; the sponsor pays routine operating expenses and is paid the sponsor fee weekly in XRP.
- Creation/redemption activity: Shares are created and redeemed in 10,000-share baskets; notable net redemptions in H1 2026 reduced outstanding shares and NAV.
- Liquidity & controls: NAV is calculated daily with fair-value accounting using the principal market price at 4:00 p.m. ET; the Trust reported no off-balance-sheet arrangements.
Original SEC Filing: 21Shares XRP ETF [ TOXR ] - 10-Q - Aug. 11, 2026
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