21Shares' Polkadot ETF, TDOT, disclosed that it realized about $4.52 in losses for every $1 of distributed staking income in the second quarter of 2026. According to ChainCatcher, the fund sold 98,505 DOT tokens in Q2 and raised about $107,500 in cash to pay staking income to shareholders.

The regulatory filing said those sales locked in about $485,600 in losses as DOT prices fell sharply. DOT dropped about 34% in the second quarter of 2026 and was down 76% over the prior 12 months through June 30.

TDOT paid shareholders about $0.14698 per share in distributions during the quarter, but the fund's share price fell from $14.95 to $9.86 over the same period, also a decline of about 34%. The staking income did not offset the decline in the underlying asset price.