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

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 210,834 shares, an increase of 116.7% from the August 15th total of 97,306 shares. Based on an average daily volume of 76,566 shares, the short-interest ratio is presently 2.8 days. Currently, 8.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Grayscale XRP Trust ETF

Hedge funds have recently modified their holdings of the company. Front Row Advisors LLC acquired a new stake in shares of Grayscale XRP Trust ETF during the 4th quarter valued at about $49,000. Gallacher Capital Management LLC acquired a new position in Grayscale XRP Trust ETF in the 1st quarter worth about $728,000. Finally, Goldman Sachs Group Inc. acquired a new position in Grayscale XRP Trust ETF in the 4th quarter worth about $37,961,000.

Grayscale XRP Trust ETF Stock Performance

NYSEARCA GXRP traded up $2.03 during mid-day trading on Monday, reaching $28.40. 27,785 shares of the stock were exchanged, compared to its average volume of 72,620. The business’s 50 day moving average is $22.90 and its 200-day moving average is $24.67. 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.