Grayscale CEO Peter Mintzberg has filed to sell 2,611 shares of the firm's GXRP XRP ETF, a stake valued at about $53,395. The filing lands as GXRP's outstanding share count falls and the fund holds only about 6% of the U.S. XRP ETF market by net assets.
Grayscale, the crypto asset manager overseeing more than $35 billion in assets under management, disclosed that CEO Peter Mintzberg plans to sell 2,611 shares of the Grayscale XRP Trust ETF, which trades under the ticker GXRP. Mintzberg filed a Form 144 notice with the SEC valuing the shares at about $53,395, or roughly $20.45 each.
Mintzberg follows earlier insider filings
Mintzberg acquired the shares on Oct. 3, 2024 through a private purchase from the trust, well before GXRP became a listed spot XRP ETF. Cantor Fitzgerald would handle the proposed sale on NYSE Arca.
He is also not the first Grayscale insider to reduce exposure to the fund. Digital Currency Group founder Barry Silbert and Grayscale Chief Legal Officer Craig Salm filed notices to sell their pre-listing GXRP shares in January 2026, when the ETF was trading near $37.
GXRP share count falls as rival funds launch
Mintzberg's proposed sale is small, but the wider movement in GXRP shares matters more for investors. Regulatory filings from January showed approximately 5.79 million shares outstanding, and more recent filings indicate that figure has declined significantly.
Because ETF share redemptions typically require the fund to sell its underlying XRP holdings and reduce the number of outstanding shares, the drop may reflect weakening investor demand. Grayscale also faces growing competition from newly launched U.S. spot XRP ETFs.
The broader XRP ETF market has grown to more than $971 million in net assets. Grayscale now holds only about 6% of that market, according to SoSoValue data, though investor interest in XRP remains strong overall, with cumulative inflows across U.S. XRP ETFs surpassing $1.5 billion.
XRP trades near $1.09 with $1.12 in focus
Despite the filing news, XRP continues to rise 2.57% in 24 hours to around $1.09. The technical picture remains cautious, however: XRP trades below its 30-day and 200-day moving averages, with RSI near 40 and MACD close to a bearish crossover.
A daily close above $1.12 could strengthen the recovery and put $1.50 back in focus. Failing to clear that resistance, with continued ETF redemptions and weaker momentum, could keep the token under pressure.
Source: Coinpedia Fintech News
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