Other DebtActive
Master XRP Loan Agreement
BLSH-XRP
$34.91▼ 2.54%
BTC Holdings
21,430 BTC
Total Debt
$488.07M
Leverage
26.2%
mNAV
3.33x
Outstanding
$5.22M
Issue date
2023-09-01
Principal
—
Coupon
5.50%
Maturity
2027-09-01
Conversion price
—
- XRP loan for market making activities
- $15.1M repaid during 2025
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Unsecured
- Facility type
- Term loan
- Rate type
- Fixed
- Prepayment
- Either party may terminate or reduce loan balance at any time
Outstanding History
Outstanding history(4)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | period_end | $5.22M |
| 2025-12-31 | Repayment | $5.60M Non-current $5,267K + current $334K |
| 2024-12-31 | Draw | $20.61M FVTPL value including revaluations |
| 2023-12-31 | Issuance | $6.16M FVTPL value at year-end |
- 2026-03-31 — $5,219,000Note 19 — Digital assets loan payable
- 2025-12-31 — $5,601,000Note 23
- 2024-12-31 — $20,613,000Note 23
- 2023-12-31 — $6,164,000Note 23