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Grayscale CEO Sells XRP ETF Shares Amid Growing Competition

Guavy AI Editorial Team
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XRP
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Grayscale's CEO Peter Mintzberg has filed to sell 2,611 shares of the company's XRP ETF (GXRP) at a value of approximately $53,395. The proposed sale comes as GXRP faces growing competition from new U.S. spot XRP ETFs.

The filing is not unusual, but it does coincide with weakening investor demand for GXRP. Since January, the number of outstanding shares in the trust has declined significantly, from around 5.79 million to an unknown lower figure.

This decline may reflect redemptions as investors sell their XRP holdings, reducing the overall number of shares outstanding.

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