Grayscale CEO Files to Sell GXRP ETF Shares, Becomes Third Insider to Cash Out

TechFlow reports, on July 29, according to BeInCrypto, Grayscale CEO Peter Mintzberg filed Form 144 with the U.S. Securities and Exchange Commission (SEC), planning to sell 2,611 shares of Grayscale XRP Trust ETF (GXRP), with a total value of approximately $53,400, equivalent to $20.45 per share.

Previously, Founder Barry Silbert and Chief Legal Officer Craig Salm had submitted similar applications in January this year, at which time the price per share was approximately $37; Mintzberg's selling price this time is approximately 45% lower than that. Notably, the number of GXRP circulating shares plummeted from 5.79 million to 2.84 million in the past six months, shrinking by approximately 51%, reflecting that redemption pressure continues to exceed subscriptions. Currently, the total net assets of U.S. spot XRP ETFs are approximately $971.6 million, with GXRP accounting for approximately 6%.