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Peter Mintzberg, CEO of Grayscale, a crypto asset company managing over $35 billion in assets, announced plans to sell 2,611 shares of the company’s $XRP ETF.
Mintzberg has filed a request with the SEC to sell 2,611 shares of the Grayscale $XRP Trust (GXRP) ETF for a total of $53,394.95 at $20.45 per share.
The CEO acquired the shares in question through a private purchase from the trust on October 3, 2024, long before GXRP became an exchange-traded $XRP ETF.
The $XRP ETF share sale will be conducted through Cantor Fitzgerald on the NYSE Arca, it was stated.
CEO Mintzberg is not the first Grayscale executive to reduce his investment in GXRP. Previously, Digital Currency Group founder Barry Silbert and Grayscale Chief Legal Officer Craig Salm also notified the SEC to sell a portion of their GXRP shares prior to the IPO.
Market observers believe Grayscale CEO’s sell-off is aimed at reducing his exposure to $XRP due to concerns about the Fed’s interest rate hikes and the delay in the Clarity Act.
As is known, GXRP launched via private placement in September 2024, and insiders purchased shares at that stage, long before the IPO.
*This is not investment advice.
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