Grayscale CEO Files to Sell XRP ETF Shares He Bought Before Listing
Grayscale chief govt Peter Mintzberg has filed discover with the Securities and Exchange Commission (SEC) to promote 2,611 shares of the Grayscale XRP Trust ETF (GXRP) for $53,394.95. That works out to $20.45 per share.
He is the third Grayscale insider to file that discover on this fund. Barry Silbert and Craig Salm filed in January, when the identical shares had been marked close to $37 every.
What Mintzberg’s Form 144 Actually Discloses
The notice is dated July 28. It lists Mintzberg as an officer of the sponsor of the issuer.
He has led Grayscale Investments since August 2024. He joined from Goldman Sachs, the place he ran technique for asset and wealth administration.
All 2,611 shares had been purchased on October 3, 2024, in a privately negotiated buy from the belief, settled in money. Cantor Fitzgerald is dealing with the sale on NYSE Arca.
Mintzberg reported no gross sales over the prior three months. A Form 144 states an intention to promote. It isn’t proof {that a} commerce cleared.
Why the January Filings Change How This Reads
Grayscale opened GXRP as a private placement in September 2024. Insiders purchased in at that stage, effectively earlier than any public buying and selling.
The belief registered for a public itemizing in November 2025 and started buying and selling on NYSE Arca that month. Rule 144 units when such restricted shares might be resold, and for a reporting firm the holding interval runs six months.
Two insiders moved first. Silbert, who based Digital Currency Group and owns Grayscale by means of it, filed as a ten% stockholder on January 26. Salm, Grayscale’s chief authorized officer, filed on January 23.
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Mintzberg is shifting a smaller block. He can be marking it roughly 45% beneath the place the opposite two marked theirs six months earlier.
What Happened to the Fund’s Share Count
The three filings expose one thing bigger than any single stake. Both January notices record 5,790,100 shares excellent.
Mintzberg’s July discover lists 2,840,100. The share rely has dropped by 2,950,000, or about 51%, in six months.
Share counts in an ETF fall when redemptions outpace creations. None of the three filings explains the trigger, and Grayscale has not damaged it out publicly.
At $20.45 a share, the remaining rely implies roughly $58 million within the belief. US spot XRP ETFs held about $971.6 million in complete web belongings on July 28, in accordance to SoSoWorth, leaving GXRP close to 6% of the class.
What This Means for XRP Holders Next
XRP (XRP) trades near $1.09, up about 3% in 24 hours, with a market worth shut to $68 billion. A $53,000 discover can not transfer that.
The token sits roughly 70% beneath its report of $3.65, set on July 18, 2025. It is down about 66% over 12 months.
So the insider block isn’t the quantity to monitor. The share rely is.
BeInCrypto’s XRP price outlook flagged ETF desks sitting out 10 of July’s 17 buying and selling days. A separate learn on cooling XRP ETF demand famous the hole between a agency chart and skinny shopping for.
A later insider submitting would affirm whether or not Mintzberg’s shares truly offered. Grayscale’s subsequent quarterly report will say extra concerning the redemptions.
Insiders who purchased GXRP in 2024 at the moment are clearing the exit at half of January’s mark. The open query for XRP holders is who’s taking the opposite aspect.
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