Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Shares Gap Down – What’s Next?

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) gapped down prior to trading on Tuesday . The stock had previously closed at $17.33, but opened at $16.52. Grayscale Ethereum Trust (ETH) shares last traded at $16.41, with a volume of 1,717,568 shares changing hands.

Grayscale Ethereum Trust (ETH) Trading Down 4.4%

The business has a 50-day moving average price of $24.08 and a two-hundred day moving average price of $29.57.

Hedge Funds Weigh In On Grayscale Ethereum Trust (ETH)

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETHE. PNC Financial Services Group Inc. boosted its position in Grayscale Ethereum Trust (ETH) by 86.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,225 shares of the company’s stock valued at $26,000 after buying an additional 569 shares in the last quarter. Nvwm LLC lifted its stake in shares of Grayscale Ethereum Trust (ETH) by 500.0% in the 4th quarter. Nvwm LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,000 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Grayscale Ethereum Trust (ETH) during the 2nd quarter valued at $31,000. Dunhill Financial LLC bought a new stake in Grayscale Ethereum Trust (ETH) during the 3rd quarter worth $31,000. Finally, Ameritas Advisory Services LLC acquired a new position in Grayscale Ethereum Trust (ETH) in the 3rd 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.