Grayscale, the crypto asset manager that oversees more than $35 billion in assets under management (AUM), revealed that CEO Peter Mintzberg plans to sell 2,611 shares of the company’s XRP ETF.
The filing comes as XRP is trading near $1.09, raising questions about investor demand and the ETF’s weaker position in the market.
Grayscale CEO Moves to Sell GXRP Shares
Grayscale CEO Peter Mintzberg File Form 144 Notice With the Securities and Exchange Commission for the sale of 2,611 shares of the Grayscale XRP Trust ETF, trading under the ticker GXRP. Based on the deposit value of approximately $53,395, the shares are worth approximately $20.45 each.
Mintzberg acquired the shares on October 3, 2024, through a private purchase from the trust, well before GXRP became a listed spot XRP ETF.
The proposed sale will be handled on NYSE Arca through Cantor Fitzgerald.
Meanwhile, Mintzberg was also not the first grayscale insider to reduce exposure to GXRP. Cryptocurrency Group founder Barry Silbert and Grayscale legal director Craig Salm filed notices to sell previously listed GXRP shares in January 2026, when the ETF was trading near $37.
While Mintzberg’s proposed sell-off is small, the broader move in GXRP shares is more significant to investors.
The number of GXRP shares is declining as competition increases
Regulatory filings as of January showed that GXRP had approximately 5.79 million shares outstanding. However, more recent filings indicate that this number has decreased significantly.
Since ETF share redemptions typically require the fund to sell its underlying holdings of XRP and reduce the number of shares outstanding, the decline may reflect weak investor demand.
Meanwhile, GXRP faces increasing competition from newly launched US XRP ETFs. While the broader XRP ETF market has grown to more than $971 million in net assets, Grayscale now only holds about 6% of the market, according to Soso value data.
However, investor interest in XRP remains strong overall, with cumulative flows across US XRP ETFs exceeding $1.5 billion.
XRP price is facing major resistance at $1.12
Despite the announced news, the price of XRP continues to rise by 2.57% in 24 hours to reach around $1.09.
However, the technical picture remains cautious. XRP is being traded Below the 30-day and 200-day moving averages, while the RSI is near 40 and the MACD is close to a bearish crossover.
A daily close above $1.12 could boost the recovery and refocus on $1.50. If XRP fails to rally, continued ETF recoveries and weaker momentum could keep the token under pressure.
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