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SEC filing data shows XRP ETF position claim overstated by about 1,000x

Brookstone Capital Management reported 12,380 shares of Volatility Shares XRP ETF valued at $71,059, while social posts interpreted the figure as a $71 million position under outdated reporting conventions.

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CryptoSlate reports that an SEC filing undermines viral claims about a massive XRP ETF position. The dispute centers on Brookstone Capital Management’s quarter-end holdings disclosure, which lists 12,380 shares of Volatility Shares’ XRP ETF with a reported fair value of $71,059.

According to the filing, the CUSIP shown is 92864M780, and the correct reading comes from how SEC filings round dollar values. For filings submitted on or after Jan. 3, 2023, dollar values are rounded to the nearest dollar, not to the nearest thousand, meaning the $71,059 figure corresponds to about $71,059 total rather than $71 million.

The outlet says earlier social-media posts paired the share count with a rounded $71M interpretation, which would only align with the obsolete thousands convention. CryptoSlate notes that the resulting implied per-share value would be far higher than the filing supports, and that the incorrect reading is effectively 1,000 times the reported value.

CryptoSlate also points to additional SEC filing detail from Brookstone’s March 31 report, which showed 11,144 shares under the same CUSIP and a reported value of $84,469. The later June 30 snapshot disclosed the same security, and the reported fair value fell 15.9% even as share count rose 11.1% between the two filings.

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