| Schedule of Changes in Quantity and the Fair Value of XRP |
The following represents the changes in quantity and the fair value of XRP for the three months ended March 31, 2026 (Unaudited) and 2025 (Unaudited): | | | Quantity of XRP | | | Fair Value | | | Beginning balance as of January 1, 2026 | | | 135,559,073.5077 | | | $ | 247,693,539 | | | XRP purchased for contributions | | | 9,658,968.8374 | | | | 18,937,580 | | | XRP sold for redemptions | | | (39,313,882.7266 | ) | | | (72,140,092 | ) | | XRP sold to pay expenses | | | (102,500.0000 | ) | | | (155,180 | ) | | Net realized loss on investment in XRP sold to pay Sponsor Fee | | | – | | | | (63,157 | ) | | Net realized loss on investment in XRP sold for redemptions | | | – | | | | (11,683,909 | ) | | Net change in unrealized depreciation on investment in XRP | | | – | | | | (40,434,409 | ) | | Net change in unrealized appreciation on Sponsor Fee payable | | | | | | | 738 | | | Ending balance as of March 31, 2026 | | | 105,801,659.6185 | | | $ | 142,155,110 | | | | | Quantity of XRP | | | Fair Value | | | Beginning balance as of January 1, 2025 | | | 100,000,000.0000 | | | $ | 209,510,000 | | | XRP purchased for contributions | | | - | | | | - | | | XRP sold for redemptions | | | - | | | | - | | | XRP sold to pay expenses | | | - | | | | - | | | Net realized gain on investment in XRP sold to pay Sponsor Fee | | | – | | | | 131,491 | | | Net realized loss on investment in XRP sold for redemptions | | | - | | | | - | | | Net change in unrealized appreciation on investment in XRP | | | – | | | | 1,375,222 | | | Net change in unrealized appreciation on Sponsor Fee payable | | | – | | | | 84,129 | | | Ending balance as of March 31, 2025 | | | 100,000,000.0000 | | | $ | 211,100,842 | |
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