Overly funded custodial account

My oldest child (8) has a very well funded custodial account. We opened it very shortly after their birth without putting to much thought into it. As time has progressed we have learned more, also seen the account grow tremendously from gifts from one specific grandparent, and we're questioning our decision having opened it in the first place. Our concern is our child having access to this money when they turn 21. We opened a 529 and asked said grandparent to gift there, they said no because they'd have to pay taxes from selling stocks to transfer cash to 529. Said grandparent also gifts my two children differently, second child has received 20% of what first child has received (at given age). My husband and I have tried to think through different options... -We could buy child 1 a car w/custodial money. But child 2 wouldn't receive a car of similar value. -We could hope our (extremely intelligent) child does not get any scholarships and goes to private school. (No, we wouldn’t actually hope for this) -We could ask said grandparent to gift into 529-oh wait, already tried that and didn't work (sorry... bitter). Does anyone have any ideas? No, we have not talked to a personal advisor…

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