Grayscale CEO Applies to Sell GXRP ETF Shares, Becoming the Third Insider to Cash Out

July 29th, Grayscale CEO Peter Mintzberg filed Form 144 with the U.S. Securities and Exchange Commission to sell 2,611 shares of the Grayscale XRP Trust ETF (GXRP), with a total value of approximately $53,400, equivalent to $20.45 per share.

Previously, founder Barry Silbert and Chief Legal Officer Craig Salm had submitted a similar application in January of this year, with a price of about $37 per share at that time. Mintzberg's selling price this time is about 45% lower. It is worth noting that the circulating shares of GXRP have plummeted from 5.79 million shares to 2.84 million shares in the past six months, a decrease of about 51%, reflecting ongoing redemption pressure greater than subscriptions. The total net assets of the U.S. spot XRP ETF are currently around $9.716 billion, with GXRP accounting for approximately 6%.