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

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $15.83, but opened at $17.29. Grayscale Ethereum Mini Trust ETF shares last traded at $17.25, with a volume of 990,315 shares trading hands.

Grayscale Ethereum Mini Trust ETF Price Performance

The company has a market cap of $1.45 billion, a PE ratio of 7.23 and a beta of 2.48. The business’s 50 day moving average is $20.12 and its 200-day moving average is $22.79.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Institutional investors have recently modified their holdings of the company. Turim 21 Investimentos Ltda. purchased a new position in Grayscale Ethereum Mini Trust ETF in the first quarter valued at $30,000. Global Assets Advisory LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF during the 1st quarter worth about $45,000. Evercore Wealth Management LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth about $210,000. Sunbelt Securities Inc. boosted its position in shares of Grayscale Ethereum Mini Trust ETF by 1,060.0% during the 1st quarter. Sunbelt Securities Inc. now owns 11,217 shares of the company’s stock worth $223,000 after acquiring an additional 10,250 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Grayscale Ethereum Mini Trust ETF by 8.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after acquiring an additional 835 shares during the last quarter. 77.84% of the stock is owned by hedge funds and other institutional investors.

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.