Major Altcoin ETFs See Sell-Offs by Grayscale Executives and Digital Currency Group

• Grayscale executives Barry Silbert and Carig Salm sold shares in the XRP Trust.
• Digital Currency Group and its related investment firm cut holdings in Grayscale XRP, Solana, and LINK ETF.

Grayscale officials,  the firm’s parent company, Digital Currency Group, and DCG International Investments have recently cut their stakes in numerous high-profile crypto ETFs, indicating a possible shift in mood towards altcoin-linked investment products.

According to U.S. Securities and Exchange Commission (SEC) filings, Grayscale Chairman Barry Silbert and Chief Legal Officer Craig Salm sold significant portions of their shares in the newly listed Grayscale XRP Trust (GXRP), as Silbert sold 9158 shares, and Salm sold 7123 shares. 

While the  DCG International Investments offloaded positions in both Grayscale XRP Trust, with 3000 shares, and sold 18,862 shares of Grayscale Solana Staking ETF (GSOL). 

Moreover, Grayscale’s parent company, Digital Currency Group, trimmed its  2,822 shares in the Grayscale Chainlink Trust ETF (GLNK). 

These major altcoin ETFs’ cut coincides with Grayscale’s recent entry into the crypto ETF space, which has filed for BNB ETF and NEAR ETF this month with the SEC, which signals continued expansion, even with selective portfolio adjustments.

Altcoins See Price Swings with ETF Inflows

After hitting an intraday high of almost $1.93, XRP is currently trading at $1.88. The volume of trading has decreased by almost 28% throughout the day. According to CMC statistics, the XRP’s price has ranged between a low of $1.88 and a high of $1.93 over this time.

Also, the U.S. spot XRP ETFs continue to see positive flows. As of January 26, it recorded $7.76 million inflow, and the cumulative net inflow stands at  $1.24 billion, as per SoSoValue Data.  

SOL is currently up 1.25% from the previous day and trading at $123.93.  The token’s price has fluctuated within a narrow range today, reaching a high of over $125 during intraday trading, while its 24-hour trading volume has fallen by about 44%. 

While the U.S. spot Solana ETF saw inflows for the past week, on January 26, it recorded $2.46 million inflow, with the cumulative total net inflow of $875.84 million. 

While LINK is also down, where it is trading at $11.86, as the intra-day high was reached at $12. Whereas the 24-hour trading volume is declining by more than 40% in activity. Even the U.S. spot LINK ETF  has also recorded an inflow of $1.08 million after 3 days of no movement in funds. 

Highlighted Crypto News Today:

‌Crypto Industry Targeted by North Korean Hackers Using AI Deepfake Meetings