Viral $71M XRP ETF Claim Debunked by SEC Filing Math

A social media rumor claiming that Brookstone Capital Management holds $71 million in an XRP ETF has been proven false. The confusion stems from a simple misreading of a standard SEC 13F filing. While the document lists a value of 71,059, recent claims incorrectly treated this as millions instead of thousands.

Since January 2023, the SEC has required firms to report dollar values rounded to the nearest dollar. Before this rule change, filings were reported in thousands. By applying the outdated convention, social media users multiplied the actual value of $71,059 by 1,000 to reach the exaggerated $71 million figure. A quick calculation shows that the reported shares and value equate to about $5.74 per share, confirming the much smaller total is the correct one.

It is also important to note that the security in question, XRPI, is an XRP futures product rather than a direct holding of XRP tokens. This confusion serves as a reminder for traders to check reporting units and share counts when analyzing institutional disclosures. When in doubt, verifying CUSIP numbers and comparing data against previous quarters can help prevent the spread of incorrect market narratives.