Grayscale XRP Trust ETF (NYSEARCA:GXRP) Short Interest Update

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 49,934 shares, a decrease of 76.3% from the August 31st total of 210,834 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 45,628 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of Grayscale XRP Trust ETF

An institutional investor recently bought a new stake in Grayscale XRP Trust ETF stock. Gallacher Capital Management LLC bought a new position in Grayscale XRP Trust ETF (NYSEARCA:GXRP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,981 shares of the company’s stock, valued at approximately $728,000. Gallacher Capital Management LLC owned 1.14% of Grayscale XRP Trust ETF at the end of the most recent reporting period.

Grayscale XRP Trust ETF Stock Up 3.0%

GXRP traded up $0.88 on Friday, hitting $30.47. The company had a trading volume of 44,403 shares, compared to its average volume of 71,582. The company’s fifty day moving average price is $24.22 and its 200 day moving average price is $24.76. Grayscale XRP Trust ETF has a 1-year low of $19.25 and a 1-year high of $46.51.

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.