Grayscale CEO Peter Mintzberg has trimmed his position in the Grayscale XRP Trust ETF ($XRP) for the first time, according to a regulatory filing with the U.S. Securities and Exchange Commiss
Grayscale CEO Peter Mintzberg has trimmed his position in the Grayscale XRP Trust ETF ($XRP) for the first time, according to a regulatory filing with the U.S. Securities and Exchange Commission.
Mintzberg filed notice to sell 2,611 shares of GXRP for $53,394.95, or roughly $20.45 per share.The sale is set to be conducted through Cantor Fitzgerald on NYSE Arca.He still holds approximately 2.84 million shares after the transaction.
Mintzberg acquired the shares in October 2024 through a private transaction with the fund, prior to GXRP listing on the exchange as a spot XRP ETF.It is worth noting that a Form 144 states an intention to sell and is not confirmation that the trade has cleared.
Mintzberg is the third Grayscale insider to file notice on GXRP. Barry Silbert, who founded Digital Currency Group and owns Grayscale through it, filed as a 10% stockholder on January 26, while Craig Salm, Grayscale's chief legal officer, filed on January 23.Both January filings marked shares near $37 each, roughly 45% above where Mintzberg is marking his block today.
Mintzberg's July notice lists 2,840,100 shares outstanding, a drop of roughly 2,950,000 shares in six months, representing about 51% of the trust's total float.Share counts in an ETF fall when redemptions outpace creations, though none of the three filings explains why this happened and Grayscale has not addressed it publicly.
At $20.45 per share, the remaining count puts the trust at roughly $58 million in assets, while U.S. spot XRP ETFs held about $971.6 million in total net assets on July 28, according to SoSoValue, leaving GXRP at roughly 6% of the category.Goldman Sachs also liquidated its entire position in GXRP along with three other XRP ETFs in the first quarter of 2026.
The move adds to a difficult stretch for GXRP. The fund has tumbled more than 50% year-to-date.Spot XRP ETFs broadly are recording weaker inflows, with combined AUM falling below $1 billion across five XRP ETFs. While the dollar value of Mintzberg's sale is small relative to his remaining stake, the broader contraction in GXRP's share count is likely to draw more attention from investors watching fund flows.
Sources:BeInCrypto: Grayscale CEO Files to Sell XRP ETF Shares He Bought Before ListingBenzinga: Grayscale CEO Sells GXRP as XRP Trades 70% off the HighsCoinPedia: Grayscale CEO Files to Sell XRP ETF Shares as GXRP Shrinks
