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

Shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) gapped up prior to trading on Monday . The stock had previously closed at $14.95, but opened at $16.05. Grayscale Ethereum Mini Trust ETF shares last traded at $16.05, with a volume of 996,157 shares traded.

Grayscale Ethereum Mini Trust ETF Stock Down 1.7%

The company has a market cap of $1.33 billion, a PE ratio of 6.67 and a beta of 2.48. The stock has a 50-day moving average of $20.46 and a 200-day moving average of $23.18.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Turim 21 Investimentos Ltda. purchased a new stake in Grayscale Ethereum Mini Trust ETF during the first quarter valued at about $30,000. Global Assets Advisory LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF during the first quarter valued at about $45,000. Evercore Wealth Management LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF during the first quarter valued at about $210,000. Sunbelt Securities Inc. raised its position in Grayscale Ethereum Mini Trust ETF by 1,060.0% during the first quarter. Sunbelt Securities Inc. now owns 11,217 shares of the company’s stock valued at $223,000 after purchasing an additional 10,250 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in Grayscale Ethereum Mini Trust ETF by 8.0% during the first quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after purchasing an additional 835 shares in the last quarter. 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.