Grayscale CEO Peter Mintzberg has sold a portion of his Ripple (XRP) exchange-traded fund (ETF) holdings, reducing his XRP investment exposure for the first time.

According to overseas cryptocurrency media outlet Coingape, CEO Mintzberg recently sold 2,611 shares of GXRP ETF through Cantor Fitzgerald, as disclosed in a filing submitted to the U.S. Securities and Exchange Commission (SEC). The sale was valued at approximately $53,394.

As of the filing, CEO Mintzberg still holds 2.84 million shares of GXRP ETF. He acquired the shares in October 2024 (local time) through a private transaction with the issuer for cash, and there were no additional sales in the past three months beyond this transaction.

Meanwhile, GXRP ETF closed at $20.51 on the 29th (local time), down 3.07%. Coingape analyzed that given the GXRP ETF price has fallen more than 50% year-to-date, CEO Mintzberg may have reduced his investment exposure for partial profit-taking or risk management purposes. The Grayscale XRP Trust ETF currently has approximately $58 million in assets under management (AUM).

Macroeconomic and regulatory uncertainties also influenced the decision to sell. Coingape reported that investor sentiment surrounding XRP has contracted significantly due to a combination of concerns over a potential September rate hike by the U.S. Federal Reserve (Fed) and delays in the passage of the CLARITY Act.

There have been past instances of Grayscale insiders selling GXRP shares as well. According to Coingape, when the cryptocurrency market plunged in February (local time), Grayscale's Chief Legal Officer (CLO), parent company Digital Currency Group (DCG), and CEO Barry Silbert also reduced their GXRP investment exposure.

Recently, inflows into spot XRP ETFs have also been slowing. The total AUM of five spot XRP ETFs has fallen back below $1 billion. While cumulative net inflows reached $1.5 billion, monthly net inflows amounted to just $13.03.

[This article is by no means an investment solicitation. The content may represent opinions only, and readers are advised not to use it as a reference or resource for investment. All investment decisions should be made at one's own discretion, and the ultimate responsibility lies with the investor. This publication bears no responsibility whatsoever.]