Grayscale XRP Trust ETF (NYSEARCA:GXRP) Short Interest Down 58.4% in May

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 29,838 shares, a decrease of 58.4% from the May 14th total of 71,680 shares. Based on an average daily trading volume, of 31,060 shares, the short-interest ratio is currently 1.0 days. Approximately 1.2% of the company’s stock are sold short.

Institutional Trading of Grayscale XRP Trust ETF

A number of large investors have recently bought and sold shares of the business. Front Row Advisors LLC acquired a new stake in Grayscale XRP Trust ETF during the 4th quarter worth $49,000. Gallacher Capital Management LLC purchased a new position in Grayscale XRP Trust ETF during the 1st quarter worth $728,000. Finally, Goldman Sachs Group Inc. purchased a new position in Grayscale XRP Trust ETF during the 4th quarter worth $37,961,000.

Grayscale XRP Trust ETF Trading Down 0.7%

Shares of Grayscale XRP Trust ETF stock traded down $0.15 during trading hours on Friday, hitting $21.97. The company had a trading volume of 8,309 shares, compared to its average volume of 90,790. The company’s 50-day moving average price is $26.05. Grayscale XRP Trust ETF has a twelve month low of $20.75 and a twelve month high of $46.51.

Grayscale XRP Trust (listed on NYSE Arca under the ticker GXRP) is an investment vehicle managed by Grayscale Investments that holds XRP, the native digital token associated with the Ripple network. The trust issues shares intended to provide investors with exposure to the price movement of XRP through a single, tradable security without requiring direct ownership or custody of the underlying cryptocurrency.

The trust’s primary activity is custody and administration of XRP on behalf of its shareholders and the issuance of shares that reflect the value of the assets held by the trust, less applicable fees and expenses.