Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Reaches New 1-Year Low – Here’s What Happened

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $14.64 and last traded at $14.95, with a volume of 10936048 shares changing hands. The stock had previously closed at $16.86.

Grayscale Ethereum Mini Trust ETF Stock Down 11.3%

The company has a market cap of $1.27 billion, a PE ratio of 6.33 and a beta of 2.48. The firm’s fifty day simple moving average is $20.59 and its 200-day simple moving average is $23.39.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

Several institutional investors and hedge funds have recently modified their holdings of ETH. Verde Capital Management lifted its holdings in shares of Grayscale Ethereum Mini Trust ETF by 79.4% in the first quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after purchasing an additional 78,826 shares in the last quarter. Graetz Wealth LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $1,334,000. Integrity Wealth Partners LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $707,000. SJS Investment Consulting Inc. lifted its holdings in shares of Grayscale Ethereum Mini Trust ETF by 46,640.0% in the first quarter. SJS Investment Consulting Inc. now owns 23,370 shares of the company’s stock valued at $464,000 after purchasing an additional 23,320 shares in the last quarter. Finally, Broadhurst Jeffrey B purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $421,000. Hedge funds and other institutional investors 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.