Grayscale XRP Trust ETF (NYSEARCA:GXRP) Short Interest Down 63.1% in June

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 18,180 shares, a decline of 63.1% from the June 15th total of 49,321 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 44,508 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Grayscale XRP Trust ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of GXRP. Goldman Sachs Group Inc. acquired a new position in shares of Grayscale XRP Trust ETF in the 4th quarter valued at $37,961,000. Front Row Advisors LLC acquired a new stake in shares of Grayscale XRP Trust ETF during the fourth quarter worth $49,000. Finally, Gallacher Capital Management LLC bought a new stake in Grayscale XRP Trust ETF in the first quarter valued at about $728,000.

Grayscale XRP Trust ETF Trading Down 0.5%

Shares of NYSEARCA GXRP traded down $0.11 during mid-day trading on Wednesday, hitting $21.50. The company’s stock had a trading volume of 37,731 shares, compared to its average volume of 82,363. Grayscale XRP Trust ETF has a one year low of $19.71 and a one year high of $46.51. The company has a fifty day simple moving average of $23.69.

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.