Grayscale XRP Trust ETF (NYSEARCA:GXRP) Shares Shorted: Short Interest Down 70.1% in October

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the recipient of a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 2,590 shares, a decline of 70.1% from the October 15th total of 8,673 shares. Based on an average trading volume of 29,177 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Grayscale XRP Trust ETF

A hedge fund recently bought a new position in Grayscale XRP Trust ETF stock. Gallacher Capital Management LLC bought a new stake in Grayscale XRP Trust ETF (NYSEARCA:GXRP) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Grayscale XRP Trust ETF Stock Performance

NYSEARCA GXRP traded down $0.27 during trading hours on Friday, hitting $19.78. The company had a trading volume of 20,066 shares, compared to its average volume of 69,150. The business has a 50 day moving average of $26.23 and a 200-day moving average of $25.45. Grayscale XRP Trust ETF has a 1-year low of $19.25 and a 1-year high of $46.51.

About Grayscale XRP Trust ETF

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.