Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Here’s Why

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares gapped up prior to trading on Thursday . The stock had previously closed at $20.07, but opened at $21.83. Grayscale Ethereum Mini Trust ETF shares last traded at $21.74, with a volume of 1,569,613 shares changing hands.

Grayscale Ethereum Mini Trust ETF Stock Performance

The company has a 50-day simple moving average of $17.22 and a 200-day simple moving average of $19.06. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 9.21 and a beta of 2.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ETH. Compass Financial Management LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF during the 2nd quarter worth $2,931,000. Verde Capital Management increased its holdings in shares of Grayscale Ethereum Mini Trust ETF by 79.4% in the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after purchasing an additional 78,826 shares in the last quarter. Graetz Wealth LLC acquired a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $1,334,000. Integrity Wealth Partners LLC acquired a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $707,000. Finally, Miller Global Investments LLC boosted its holdings in Grayscale Ethereum Mini Trust ETF by 285.0% during the second quarter. Miller Global Investments LLC now owns 37,972 shares of the company’s stock worth $571,000 after buying an additional 28,109 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.

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.