Grayscale and DCG Executives Sell XRP and Solana ETF Shares

Executives at Grayscale and its parent company, Digital Currency Group (DCG), have sold shares in ETFs linked to XRP, Solana, and Chainlink.

The sales come as investors move money out of crypto and into safer assets like gold and silver. SEC filings show that Grayscale chairman Barry Silbert sold 9,158 shares of the Grayscale XRP Trust ETF (GXRP). Grayscale’s chief legal officer, Craig Salm, also sold 7,123 GXRP shares.

In addition, DCG International Investments sold 3,000 GXRP shares on January 26. These shares were bought in September 2024 through private deals with the issuer.

DCG Reduces Solana and Chainlink Exposure

DCG International Investments also reduced its exposure to Solana. The firm sold 18,862 shares of the Grayscale Solana Staking ETF (GSOL), which were also acquired in September 2024. This was not the first sale, as DCG has sold GSOL shares several times over the past three months.

DCG also cut its holdings in the Grayscale Chainlink Trust ETF (GLNK), selling 2,822 shares. These shares were purchased in private transactions in September 2023 and October 2024. The sale happened despite positive news for Chainlink, including the launch of a Chainlink ETF by Bitwise and plans by CME to introduce Chainlink futures.

Prices of XRP, Solana, and Chainlink fell following the disclosures. XRP dropped to $1.88 as selling pressure increased. Solana fell nearly 1% to around $123.56, with trading volume down sharply. Chainlink also stayed under pressure, trading near $11.87 with lower volume.

While XRP and Solana ETFs are still seeing inflows, the amount of new money coming in has slowed in recent weeks, showing weaker investor confidence.