According to CoinMeta, citing the 10-Q report for the second quarter of 2023 from 21Shares Polkadot ETF ( TDOT ), the fund sold 98,505 DOT in order to pay shareholders approximately $107,500 in cash distributions from pledged earnings from the previous quarter. As a result, the fund recognized a realized loss of about $485,600, which means that for every $1 in pledged earnings paid out, there was a loss of about $4.52. During the same period, the price of DOT fell by about 34% in the second quarter, and the stock price of TDOT also dropped from $14.95 to $9.86. The fund's total realized loss for that quarter was about $2.5 million, of which approximately $1.76 million came from the sales of DOT due to investor redemptions.