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

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 92,340 shares, a growth of 407.9% from the June 30th total of 18,180 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average trading volume of 29,522 shares, the days-to-cover ratio is currently 3.1 days.

Grayscale XRP Trust ETF Stock Performance

Shares of NYSEARCA GXRP traded up $0.44 during trading hours on Monday, hitting $21.51. 528 shares of the company’s stock were exchanged, compared to its average volume of 78,859. Grayscale XRP Trust ETF has a 1-year low of $19.71 and a 1-year high of $46.51. The firm has a 50-day moving average of $22.67.

Institutional Trading of Grayscale XRP Trust ETF

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

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.