SEC filing shows viral $71 million XRP ETF claims are out by 1,000x
Investment manager Brookstone Capital Management reported 12,380 shares of Volatility Shares' XRP ETF with a fair value of $71,059 in its June 30 quarter-end holdings disclosure. Yet, social media is spreading a...
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A notable development has hit the crypto markets. Investment manager Brookstone Capital Management reported 12,380 shares of Volatility Shares' XRP ETF with a fair value of $71,059 in its June 30 quarter-end holdings disclosure. Yet, social media is spreading a narrative of a massive $71 million position. Brookstone's June 30 information table filed with the SEC lists the Volatility Shares XRP ETF under CUSIP 92864M780, with 12,380 shares and a reported value of 71,059.
Under the SEC's current reporting rule, that means $71,059. X posts paired the share count with a rounded “$71M position. ” Others repeated the $71 million interpretation just over an hour later.
Market Dynamics
Since then, the figures have continued to do the rounds. Related Reading Here's the real XRP ETF launch timeline as DTCC is misread again DTCC records show plumbing prep, not XRP ETF approval - here’s how to track real S-1, listing, and launch dates. Nov 11, 2025 Liam 'Akiba' Wright The filing unit changed in 2023 The $71 million figure matches what the filing's 71,059 value would mean under the obsolete pre-2023 thousands convention.
The SEC's Form 13F guidance says filings submitted on or after Jan. 3, 2023, report dollar values rounded to the nearest dollar. Before the amendment, values were reported to the nearest thousand dollars.
The agency made the technical change explicit in EDGAR Release 22. 1, which said the XML value field would change from thousands to the nearest dollar on Jan. That leaves two readings of the same entry: Current convention: 71,059 means $71,059.
Market Impact
Superseded convention: 71,059 would mean $71,059,000. The obsolete reading is exactly 1,000 times the filing's actual value. The X posts rounded that stale-unit result to $71 million.
Dividing $71,059 by 12,380 gives about $5. 74 of reported fair value per share. Applying the old unit would imply about $5,740 per share for the same holding.
That per-share check shows why the $71 million reading does not seem possible. Brookstone's March 31 information table reported 11,144 shares under the same CUSIP, valued at $84,469. According to 's analysis of its SEC filings, Brookstone filed the prior-quarter report on April 16, 2026, and the June 30 report on July 15, 2026.
Crypto markets are watching this development closely as investors weigh its potential impact on prices.
