Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Here’s What Happened

Shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) gapped up prior to trading on Monday . The stock had previously closed at $15.83, but opened at $17.29. Grayscale Ethereum Mini Trust ETF shares last traded at $17.25, with a volume of 990,315 shares trading hands.

Grayscale Ethereum Mini Trust ETF Trading Up 10.7%

The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 7.43 and a beta of 2.48. The company has a fifty day moving average price of $20.21 and a 200-day moving average price of $22.95.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of large investors have recently bought and sold shares of ETH. Kestra Private Wealth Services LLC raised its holdings in Grayscale Ethereum Mini Trust ETF by 8.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock worth $224,000 after purchasing an additional 835 shares during the period. Turim 21 Investimentos Ltda. acquired a new position in Grayscale Ethereum Mini Trust ETF in the 1st quarter worth about $30,000. World Investment Advisors raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 4.9% during the 4th quarter. World Investment Advisors now owns 37,780 shares of the company’s stock worth $1,060,000 after buying an additional 1,757 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth approximately $45,000. Finally, Freedom Financial Partners LLC raised its stake in shares of Grayscale Ethereum Mini Trust ETF by 8.3% during the 1st quarter. Freedom Financial Partners LLC now owns 37,342 shares of the company’s stock worth $742,000 after buying an additional 2,870 shares during the period. Institutional investors and hedge funds own 77.84% of the company’s stock.

About Grayscale Ethereum Mini Trust ETF

The Grayscale Ethereum Mini Trust ETF (ETH) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of ether (ETH). An investment in the fund is not a direct investment in ether. ETH was launched on Apr 23, 2024 and is issued by Grayscale.