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 Thursday . The stock had previously closed at $20.07, but opened at $21.83. Grayscale Ethereum Mini Trust ETF shares last traded at $21.74, with a volume of 1,569,613 shares.

Grayscale Ethereum Mini Trust ETF Stock Performance

The stock’s 50-day moving average is $17.49 and its two-hundred day moving average is $19.06. The stock has a market cap of $2.21 billion, a PE ratio of 9.76 and a beta of 2.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Verde Capital Management raised its holdings in shares of Grayscale Ethereum Mini Trust ETF by 79.4% in the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after buying an additional 78,826 shares during the period. Integrity Wealth Partners LLC acquired a new position in Grayscale Ethereum Mini Trust ETF during the 1st quarter worth about $707,000. Graetz Wealth LLC acquired a new position in Grayscale Ethereum Mini Trust ETF during the 1st quarter worth about $1,334,000. Miller Global Investments LLC boosted its holdings in Grayscale Ethereum Mini Trust ETF by 285.0% during the 2nd quarter. Miller Global Investments LLC now owns 37,972 shares of the company’s stock valued at $571,000 after acquiring an additional 28,109 shares during the period. Finally, Freedom Financial Partners LLC boosted its holdings in 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 valued at $742,000 after acquiring an additional 2,870 shares during the period. 77.84% of the stock is currently owned by hedge funds and other institutional investors.

Grayscale Ethereum Mini Trust ETF Company Profile

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.