Entities linked to Grayscale and its parent company, Digital Currency Group (DCG), have been quietly selling their holdings in XRP and Solana-linked investment products, according to recent U.S. SEC filings. This activity coincides with a broader crypto market correction that has wiped out nearly $5 billion in value and triggered sustained outflows from several spot and staking-based ETFs.
Filings show that Digital Currency Group sold 15,000 shares of the Grayscale Solana Staking Trust (GSOL) on February 2, a transaction valued at roughly $115,000. This sale, executed through Canaccord Genuity, was part of a larger trend; over the past week, DCG is reported to have sold a total of 26,000 GSOL shares. Solana’s price fell nearly 16% over the same period, slipping below the psychologically important $100 mark.
The GSOL product has recorded outflows for four consecutive trading sessions, with net redemptions totaling approximately $5.5 million. While spot Solana ETFs collectively saw modest inflows on Monday, GSOL itself failed to attract fresh capital, highlighting investor hesitation toward staking-linked exposure during volatility.
A similar pattern emerged with XRP. DCG International Investments Ltd disclosed the sale of 3,620 shares of the Grayscale XRP Trust (GXRP), worth around $115,000, also on February 2. This followed an even larger reduction the previous week, when the firm sold 15,000 GXRP shares as XRP dropped below $1.60.
ETF flow data reinforces the bearish institutional tone. Spot XRP ETFs recorded their largest daily outflow at nearly $93 million, with Grayscale’s XRP product accounting for the majority. In contrast, U.S. spot Bitcoin ETFs saw a total of $562 million in net inflows on February 2, led by Fidelity's FBTC with $153 million. Solana spot ETFs were the only altcoins to see positive net inflows on that day, totaling $5.58 million.
Analysts suggest that while insider selling does not necessarily indicate long-term bearish conviction, the timing is notable. With ETF outflows accelerating and prices under pressure, Grayscale-linked firms appear to be defensively de-risking amid uncertain near-term market conditions.
