Peter Mintzberg filed a Form 144 on July 28 to sell 2,611 shares of the Grayscale XRP Trust ETF, the entire block he bought privately from the trust in October 2024.
The notice puts the aggregate market value at $53,394.95, or $20.45 per share, with Cantor Fitzgerald handling the sale on NYSE Arca.
Mintzberg acquired the shares on October 3, 2024, through a privately negotiated transaction with the issuer and paid cash. He reported no sales of the security in the previous three months. A Form 144 registers an intention to sell and does not confirm a completed trade.
Third Insider to File on GXRP
Mintzberg took over as Grayscale’s CEO on August 15, 2024, arriving from Goldman Sachs, which put the purchase seven weeks into the job. The fund was a private placement for accredited investors at the time, holding close to $17 million across 301,500 shares by its first anniversary in September 2025.
Two other Grayscale insiders filed notices on the same security in January. For example, Digital Currency Group founder Barry Silbert, listed as a 10% stockholder, reported 9,158 shares worth $336,373.34, held through a Roth IRA and routed via Capital Institutional Services.
Moreover, Chief Legal Officer Craig Salm reported 7,123 shares worth $266,970.04 through Canaccord Genuity. Silbert’s notice names OTCQX as the venue, while Salm’s and Mintzberg’s both name NYSE Arca.
All three insiders bought inside the same seven-week window in 2024. Silbert took 4,407 shares on September 14 and 4,751 on October 4. Salm took 2,319 on October 8 and 4,804 on October 31.
Both January notices reached the SEC on January 26, and Salm signed his three days earlier. The January filings imply share prices of $36.73 and $37.48, against the $20.45 in Mintzberg’s notice, a decline of 44% over the six months between them.
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Trust Float Halves in Six Months
The January filings each listed 5,790,100 shares outstanding. Mintzberg’s July notice lists 2,840,100, a reduction of 2,950,000 shares, or 51%. At $20.45 a share, the remaining count values the trust near $58 million, behind the category leaders at close to $500 million for Bitwise’s fund and below $470 million for Canary’s XRPC.
Grayscale uplisted the fund eleven days after the first US spot XRP ETF began trading on Nasdaq on November 13, 2025, with GXRP shares opening on NYSE Arca on November 24.
Across the category, seven of the ten business days to July 19 recorded zero net flows, at US spot XRP funds, against close to $1.5 billion in cumulative inflows since launch.
XRP traded at $1.07 on July 30, 70.5% below the $3.65 high it set on July 17, 2025.
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