Grayscale CEO Mintzberg Unloads on XRP Amid Weakening Investor Demand
Grayscale CEO Peter Mintzberg filed a Form 144 notice with the SEC to sell 2,611 shares of the Grayscale XRP Trust ETF (GXRP), trading at around $20.45 each.
The proposed sale would be handled on NYSE Arca through Cantor Fitzgerald and comes as GXRP trades near $1.09, raising questions about investor demand and the ETF's weaker position in the market.
Mintzberg acquired the shares on Oct. 3, 2024, well before GXRP became a listed spot XRP ETF, and is not the first Grayscale insider to reduce exposure to GXRP. Digital Currency Group founder Barry Silbert and Grayscale Chief Legal Officer Craig Salm filed notices to sell their pre-listing GXRP shares in January 2026, when the ETF was trading near $37.
Regulatory filings from January showed GXRP had approximately 5.79 million shares outstanding, but more recent filings indicate that figure has declined significantly, suggesting weakening investor demand and competition from newly launched U.S. spot XRP ETFs.