Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Sees Large Increase in Short Interest

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 1,224,929 shares, a growth of 117.7% from the June 15th total of 562,671 shares. Based on an average daily trading volume, of 2,738,676 shares, the short-interest ratio is presently 0.4 days. Approximately 1.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrity Wealth Partners LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at $707,000. Verde Capital Management boosted its position in Grayscale Ethereum Mini Trust ETF by 79.4% during the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock worth $3,537,000 after acquiring an additional 78,826 shares during the period. Graetz Wealth LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF in the 1st quarter valued at about $1,334,000. Meitav Investment House Ltd. lifted its position in shares of Grayscale Ethereum Mini Trust ETF by 10.3% in the first quarter. Meitav Investment House Ltd. now owns 42,316 shares of the company’s stock worth $840,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Retirement Financial Solutions LLC lifted its position in Grayscale Ethereum Mini Trust ETF by 38.2% in the 1st quarter. Retirement Financial Solutions LLC now owns 36,944 shares of the company’s stock worth $734,000 after buying an additional 10,215 shares in the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.

Grayscale Ethereum Mini Trust ETF Stock Performance

NYSEARCA ETH traded up $0.46 on Wednesday, reaching $18.34. The company’s stock had a trading volume of 1,208,667 shares, compared to its average volume of 5,621,632. Grayscale Ethereum Mini Trust ETF has a twelve month low of $14.53 and a twelve month high of $45.78. The firm’s 50 day moving average is $17.89 and its two-hundred day moving average is $21.04. The stock has a market cap of $1.76 billion, a PE ratio of 7.77 and a beta of 2.60.

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.