Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Shares Down 9.4% – Time to Sell?

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE)’s share price traded down 9.4% on Thursday . The company traded as low as $15.71 and last traded at $16.00. 8,374,830 shares were traded during mid-day trading, an increase of 0% from the average session volume of 8,345,210 shares. The stock had previously closed at $17.66.

Grayscale Ethereum Trust (ETH) Trading Down 10.6%

The stock has a 50-day simple moving average of $24.55 and a two-hundred day simple moving average of $29.87.

Institutional Investors Weigh In On Grayscale Ethereum Trust (ETH)

A number of institutional investors have recently added to or reduced their stakes in ETHE. PNC Financial Services Group Inc. grew its stake in Grayscale Ethereum Trust (ETH) by 86.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,225 shares of the company’s stock valued at $26,000 after acquiring an additional 569 shares in the last quarter. Nvwm LLC grew its holdings in shares of Grayscale Ethereum Trust (ETH) by 500.0% during the 4th quarter. Nvwm LLC now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Grayscale Ethereum Trust (ETH) during the 2nd quarter worth about $31,000. Dunhill Financial LLC acquired a new position in Grayscale Ethereum Trust (ETH) in the third quarter valued at about $31,000. Finally, Ameritas Advisory Services LLC purchased a new position in Grayscale Ethereum Trust (ETH) during the third quarter worth about $34,000.

About Grayscale Ethereum Trust (ETH)

Grayscale Ethereum Trust (OTCMKTS: ETHE) is a publicly quoted investment vehicle that offers investors exposure to the price movement of Ethereum through a traditional security. The trust holds Ethereum (“ETH”) as its sole underlying asset and issues shares that trade over the counter in U.S. dollars. By packaging ether into a familiar trust structure, ETHE is designed to simplify the process of gaining exposure to digital assets without the need for personal wallets, private keys, or direct interactions with cryptocurrency exchanges.

As a decentralized asset held in trust, ETHE provides daily transparent reporting of its assets under management, net asset value per share and the trust’s Ethereum holdings.