Key facts
- Grayscale CEO Peter Mintzberg sold 2,611 shares of the GXRP XRP ETF.
- The sale was valued at $53,394 and occurred through Cantor Fitzgerald.
- Mintzberg still holds 2.84 million shares in the ETF.
- The GXRP ETF has fallen more than 50% year-to-date.
- Total inflows for spot XRP ETFs have been low, with AUM below $1 billion.
Grayscale CEO Peter Mintzberg has sold 2,611 shares of the Grayscale XRP Trust ETF (GXRP), marking his first reduction in XRP exposure. The sale, valued at $53,394, was conducted through broker Cantor Fitzgerald. Mintzberg acquired the shares in October 2024 directly from the issuer.
This move occurs as the GXRP ETF has seen its share price fall 3.07% to $20.51, contributing to a year-to-date decline of over 50%. The Grayscale XRP Trust ETF currently has $58 million in assets under management (AUM).
Broader concerns in the crypto market, including low inflows for spot XRP ETFs which have seen their total AUM drop below $1 billion, may be influencing these decisions. Despite a recent 3% rebound in XRP's price to $1.08, the CEO's sale could impact future upward momentum. The market is also awaiting the Federal Reserve's rate decision and is cautious due to geopolitical tensions.