Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Here’s Why

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $20.07, but opened at $21.83. Grayscale Ethereum Mini Trust ETF shares last traded at $21.74, with a volume of 1,569,613 shares traded.

Grayscale Ethereum Mini Trust ETF Price Performance

The company has a market cap of $2.08 billion, a price-to-earnings ratio of 9.21 and a beta of 2.48. The firm’s 50 day simple moving average is $17.22 and its 200-day simple moving average is $19.06.

Institutional Trading of Grayscale Ethereum Mini Trust ETF

Large investors have recently made changes to their positions in the company. Turim 21 Investimentos Ltda. purchased a new position in Grayscale Ethereum Mini Trust ETF during the 1st quarter worth approximately $30,000. Global Assets Advisory LLC purchased a new stake in Grayscale Ethereum Mini Trust ETF in the first quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Grayscale Ethereum Mini Trust ETF by 58.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,575 shares of the company’s stock valued at $54,000 after acquiring an additional 1,313 shares during the period. Beaird Harris Wealth Management LLC boosted its holdings in shares of Grayscale Ethereum Mini Trust ETF by 20.5% in the second quarter. Beaird Harris Wealth Management LLC now owns 5,451 shares of the company’s stock valued at $82,000 after acquiring an additional 929 shares during the period. Finally, Evercore Wealth Management LLC purchased a new position in shares of Grayscale Ethereum Mini Trust ETF during the first quarter worth approximately $210,000. 77.84% of the stock is owned by institutional investors and hedge funds.

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.