Grayscale’s Secret Dance with Crypto ETFs

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The execs at Grayscale and their kin at DCG, with the meticulousness of a lepidopterist cataloging rare specimens, have curtailed their holdings in XRP, Solana, and Chainlink ETFs, as the altcoin ETFs languish under the weight of faltering prices and sluggish inflows.

Grayscale insiders and affiliated entities have adjusted their exposure to select altcoin exchange-traded products, their actions as enigmatic as a riddle posed by a sphinx.

The activity occurred during a period of softer crypto prices and slower ETF inflows, while investors show interest in non-crypto assets, a shift as predictable as the sunrise over a desert of indifference.

Executives Reduce Exposure to XRP Trust ETF

Recent filings submitted to the US Securities and Exchange Commission show sales by senior Grayscale officials, those arcane scrolls of financial transparency revealing a tale of calculated retreat.

Chairman Barry Silbert and Chief Legal Officer Craig Salm disclosed planned reductions in their holdings, as if orchestrating a symphony of financial prudence.

Silbert sold 9,158 shares of the Grayscale XRP Trust ETF, while Salm sold 7,123 shares. Both transactions were reported through Form 144 filings, which are required for insider sales, a bureaucratic ritual as old as time itself.

The filings did not include statements explaining the transactions. Such disclosures often reflect routine portfolio management, and no additional guidance was provided by the company, leaving us to speculate like amateur detectives in a dimly lit room.

Parent and Investment Units Adjust Altcoin ETF Positions

DCG International Investments also reduced exposure to Grayscale-linked products. The firm sold 3,000 shares of the Grayscale XRP Trust ETF during January, a move as enigmatic as a whisper in a library.

The shares were originally acquired in September 2024, a period so distant it might as well have been the Paleozoic era.

According to John Morgan, Grayscale Executives, Parent Firm Trim Holdings in XRP, Solana, & Chainlink ETFs during periods of changing market liquidity and asset rotation, a statement as profound as a haiku about the weather.

Grayscale Executives, Parent Firm Trim Holdings in XRP, Solana, & Chainlink ETFs

– John Morgan (@johnmorganFL)

The same investment unit sold 18,862 shares of the Grayscale Solana Staking ETF. Records show the firm reduced its GSOL holdings multiple times over the past three months, a pattern as cyclical as the tides.

Chainlink ETF Holdings Also Reduced

Digital Currency Group disclosed a separate reduction in its Chainlink-related holdings. The parent firm sold 2,822 shares of the Grayscale Chainlink Trust ETF through a planned transaction, a maneuver as deliberate as a chess master’s move.

The Chainlink shares were acquired through privately negotiated purchases in September 2023 and October 2024. The Form 144 filing did not include comments on the sale, a silence as profound as a tomb.

The reduction followed continued activity around Chainlink products. Bitwise launched a Chainlink ETF, while CME announced plans to list Chainlink futures contracts. Despite this, LINK prices remained under pressure, a paradox as baffling as a magician revealing his secrets.

During the period, XRP traded near $1.88, while Solana hovered around $123. Chainlink changed hands close to $11.87. Trading volumes declined across all three assets, a decline as inevitable as the fall of empires.

Spot XRP and Solana ETFs continued to post inflows, although the pace slowed compared to previous weeks, a slowdown as frustrating as watching a clock tick backward.

The disclosures provide insight into insider and parent firm positioning during current market conditions, a glimpse into a world where every transaction is a riddle and every number a clue.

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2026-01-28 10:53