Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Still a Buy?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s share price gapped up prior to trading on Friday . The stock had previously closed at $19.62, but opened at $20.68. Grayscale Ethereum Mini Trust ETF shares last traded at $20.76, with a volume of 2,175,204 shares changing hands.

Grayscale Ethereum Mini Trust ETF Trading Up 4.0%

The company has a market cap of $1.60 billion, a price-to-earnings ratio of 8.64 and a beta of 4.50. The company has a fifty day moving average price of $23.38 and a two-hundred day moving average price of $30.87.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

A hedge fund recently raised its stake in Grayscale Ethereum Mini Trust ETF stock. World Investment Advisors grew its holdings in Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,780 shares of the company’s stock after buying an additional 1,757 shares during the quarter. World Investment Advisors’ holdings in Grayscale Ethereum Mini Trust ETF were worth $1,060,000 as of its most recent filing with the SEC. 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.