Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Time to Buy?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s share price gapped up before the market opened on Friday . The stock had previously closed at $19.62, but opened at $20.68. Grayscale Ethereum Mini Trust ETF shares last traded at $20.76, with a volume of 2,175,204 shares trading hands.

Grayscale Ethereum Mini Trust ETF Stock Up 4.0%

The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 8.64 and a beta of 4.50. The company’s 50-day moving average is $23.38 and its 200-day moving average is $30.87.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A hedge fund recently raised its stake in Grayscale Ethereum Mini Trust ETF stock. World Investment Advisors increased its stake in shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,780 shares of the company’s stock after buying an additional 1,757 shares during the quarter. World Investment Advisors’ holdings in Grayscale Ethereum Mini Trust ETF were worth $1,060,000 at the end of the most recent reporting period. 77.84% of the stock is currently owned by institutional investors and hedge funds.

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.