Grayscale CEO Files to Sell $53K of GXRP Shares Bought Before Ripple ETF Listing

The discover places the combination market worth at $53,394.95, or $20.45 per share, with Cantor Fitzgerald dealing with the sale on NYSE Arca.

Mintzberg acquired the shares on October 3, 2024, by way of a privately negotiated transaction with the issuer and paid money. He reported no gross sales of the safety within the earlier three months. A Form 144 registers an intention to promote and doesn’t verify a accomplished commerce.

Third Insider to File on GXRP

Mintzberg took over as Grayscale’s CEO on August 15, 2024, arriving from Goldman Sachs, which put the acquisition seven weeks into the job. The fund was a non-public placement for accredited traders on the time, holding shut to $17 million throughout 301,500 shares by its first anniversary in September 2025.

Two different Grayscale insiders filed notices on the identical safety in January. For instance, Digital Currency Group founder Barry Silbert, listed as a ten% stockholder, reported 9,158 shares value $336,373.34, held by way of a Roth IRA and routed through Capital Institutional Services.

Moreover, Chief Legal Officer Craig Salm reported 7,123 shares value $266,970.04 by way of Canaccord Genuity. Silbert’s discover names OTCQX because the venue, whereas Salm’s and Mintzberg’s each title NYSE Arca.

All three insiders purchased inside the identical seven-week window in 2024. Silbert took 4,407 shares on September 14 and 4,751 on October 4. Salm took 2,319 on October 8 and 4,804 on October 31.

Both January notices reached the SEC on January 26, and Salm signed his three days earlier. The January filings suggest share costs of $36.73 and $37.48, towards the $20.45 in Mintzberg’s discover, a decline of 44% over the six months between them.

Trust Float Halves in Six Months

The January filings every listed 5,790,100 shares excellent. Mintzberg’s July discover lists 2,840,100, a discount of 2,950,000 shares, or 51%. At $20.45 a share, the remaining depend values the belief close to $58 million, behind the class leaders at shut to $500 million for Bitwise’s fund and beneath $470 million for Canary’s XRPC.

Grayscale uplisted the fund eleven days after the primary US spot XRP ETF started trading on Nasdaq on November 13, 2025, with GXRP shares opening on NYSE Arca on November 24.

Across the class, seven of the ten enterprise days to July 19 recorded zero web flows, at US spot XRP funds, towards shut to $1.5 billion in cumulative inflows since launch.

XRP traded at $1.07 on July 30, 70.5% beneath the $3.65 high it set on July 17, 2025.

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