Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Shares Gap Down – Time to Sell?

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $21.84, but opened at $18.93. Grayscale Ethereum Trust (ETH) shares last traded at $19.36, with a volume of 5,869,183 shares trading hands.

Grayscale Ethereum Trust (ETH) Stock Performance

The business has a fifty day moving average of $24.69 and a two-hundred day moving average of $29.96.

Institutional Trading of Grayscale Ethereum Trust (ETH)

A number of hedge funds have recently modified their holdings of ETHE. PNC Financial Services Group Inc. grew its stake in Grayscale Ethereum Trust (ETH) by 86.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,225 shares of the company’s stock valued at $26,000 after buying an additional 569 shares during the last quarter. Nvwm LLC boosted its holdings in shares of Grayscale Ethereum Trust (ETH) by 500.0% during the fourth quarter. Nvwm LLC now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 1,000 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Grayscale Ethereum Trust (ETH) during the second quarter worth approximately $31,000. Dunhill Financial LLC acquired a new position in shares of Grayscale Ethereum Trust (ETH) in the third quarter valued at approximately $31,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Grayscale Ethereum Trust (ETH) during the 3rd quarter worth approximately $34,000.

Grayscale Ethereum Trust (ETH) Company Profile

Grayscale Ethereum Trust (OTCMKTS: ETHE) is a publicly quoted investment vehicle that offers investors exposure to the price movement of Ethereum through a traditional security. The trust holds Ethereum (“ETH”) as its sole underlying asset and issues shares that trade over the counter in U.S. dollars. By packaging ether into a familiar trust structure, ETHE is designed to simplify the process of gaining exposure to digital assets without the need for personal wallets, private keys, or direct interactions with cryptocurrency exchanges.

As a decentralized asset held in trust, ETHE provides daily transparent reporting of its assets under management, net asset value per share and the trust’s Ethereum holdings.