Grayscale XRP Trust ETF (NYSEARCA:GXRP) Short Interest Up 407.9% in July

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 92,340 shares, a growth of 407.9% from the June 30th total of 18,180 shares. Based on an average daily volume of 29,522 shares, the short-interest ratio is currently 3.1 days. Currently, 3.8% of the shares of the stock are short sold.

Institutional Trading of Grayscale XRP Trust ETF

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

Grayscale XRP Trust ETF Stock Performance

Shares of GXRP traded down $0.33 during midday trading on Friday, hitting $21.07. The company’s stock had a trading volume of 7,631 shares, compared to its average volume of 79,421. Grayscale XRP Trust ETF has a one year low of $19.71 and a one year high of $46.51. The company’s fifty day moving average price is $22.67.

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.