21Shares XRP ETF Discloses 135M XRP Holdings; Net Assets Climb to $247M in First Full-Year 10-K

New regulatory disclosures are drawing fresh attention to institutional exposure to XRP after 21Shares detailed the scale of holdings inside its exchange-traded fund. In its newly published Annual 10-K, 21Shares reported that its XRP ETF holds more than 135 million XRP, with total net assets of about $247 million and 13.89 million shares outstanding. The filing marks the first full-year report since the product's launch. The report shows XRP holdings rose from 100 million in 2024 to over 135 million in 2025, a gain of more than 35% despite ongoing volatility and price pressure across the crypto market. Net assets increased from roughly $209 million in 2024 to nearly $247 million in 2025, up about 18% over the period. The filing also notes the ETF's XRP position is currently below its average acquisition cost, pointing to unrealized losses driven by market conditions rather than a decline in participation. The fund remains highly concentrated, with nearly 100% of capital allocated directly to XRP and minimal liabilities, reinforcing its function as a pure-play exposure vehicle. Shares outstanding grew from 10 million to 13.89 million, an increase of almost 39%. Over the same period, net asset value per share fell in line with broader XRP price moves. 21Shares estimates its product represents about 33% to 37% of the total XRP ETF market, offering a window into how institutional allocations are distributed through regulated XRP-linked vehicles. The XRP held in the ETF is maintained in custody structures, limiting its immediate availability for active trading. Even so, price action has yet to reflect the scale of the accumulation, suggesting broader market forces continue to dominate. On March 31, 2026, a market post circulated figures from the filing: 135.56 million XRP held, $247 million in net assets, and 13.89 million shares outstanding, describing it as 21Shares' first full-year report since launch.