Bitwise XRP ETF sees reported $3.58M redemption

A reported $3.58 million outflow from the Bitwise XRP ETF drew attention on Aug. 6 after social media accounts described the move as an unusual sale by the asset manager. Summary Bitwise’s XRP ETF reportedly recorded $3.58 million in net redemptions during Wednesday’s U.S. trading session. Official Bitwise data showed 293.9 million XRP held by the trust through August 4, 2026. ETF outflows reflect shareholder redemptions and do not establish a discretionary bearish decision by Bitwise. The trust may distribute XRP in kind or sell tokens to satisfy cash redemption orders. XRP traded near $1.07, remaining roughly 70% below its July 2025 record high of $3.65. The available evidence supports a narrower conclusion: the fund reportedly experienced a net redemption during the Aug. 5 U.S. session. No public transaction details show that Bitwise made a discretionary market call against XRP. The distinction matters because the fund is a trust holding XRP for shareholders. Bitwise Investment Advisers sponsors the product, while authorized financial firms handle share creation and redemption orders under the trust’s operating documents. Bitwise XRP ETF outflow is a shareholder redemption The B...