Breaking: Grayscale CEO Peter Mintzberg Sells Holdings in GXRP XRP ETF

Crypto asset manager Grayscale CEO has sold some shareholdings in GXRP ETF, cutting exposure to XRP. This comes amid growing uncertainty in the crypto market and a falling XRP price as concerns over September Fed rate hike and Clarity Act delays.

Grayscale CEO Peter Mintzberg Offloaded 2,611 GXRP Shares

Peter Mintzberg, CEO of Grayscale Investments and an officer of the sponsor of the GXRP ETF, reduced his holdings in the XRP ETF. This marks the first time he reduced his XRP exposure, as per the SEC filing.

Grayscale CEO sold 2,611 shares in GXRP ETF through broker Cantor Fitzgerald. The total market value of the sale was $53,394. At the time of the filing, Peter Mintzberg still holds 2.84 million shares.

Mintzberg acquired the shares in October 2024 in a privately negotiated transaction directly from the issuer for cash. He reported no sales of the issuer’s securities in the last three months.

GXRP ETF shares fell 3.07% to $20.51 on Tuesday. Grayscale CEO likely cut XRP exposure as GXRP has tumbled more than 50% year-to-date. Grayscale XRP Trust ETF has $58 million in AUM.

As CoinGape reported earlier, Grayscale insiders last sold XRP ETF holdings during the February crypto market crash. Grayscale CLO, parent firm Digital Currency Group, and CEO Barry Silbert cut exposure in GXRP.

Will XRP Price Fall amid Low ETF Inflows?

Spot XRP ETFs are recording lower inflows in the past few days, with AUM falling below $1 billion across five XRP ETFs. Notably, the total inflows reached $1.50 billion, with just $13.03 in monthly inflows.

XRP price rebounded more than 3% amid buy-the-dip sentiment in the past 24 hours, with the price currently trading at $1.08. The 24-hour low and high are $1.05 and $1.09, respectively. However, Grayscale CEO cutting XRP exposure may impact further upside momentum.

Furthermore, trading volume has increased by 2% over the last 24 hours amid XRP spot trading in Hong Kong and RLUSD listing in South Korean exchanges. Traders await the Fed rate decision for upside momentum, but US-Iran war strikes turn traders cautious.

CoinGlass data showed mixed sentiment the derivatives market amid Clarity Act delays. At the time of writing, the total XRP futures open interest dropped 0.80% to $2.44 billion in the last 24 hours. The 4-hour XRP futures OI fell 0.31%, with a 0.32% drop on CME and a 1.30% slump on Binance.

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