Canary XRP ETF (NASDAQ:XRPC) Sees Significant Increase in Short Interest

Canary XRP ETF (NASDAQ:XRPC) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 197,071 shares, a growth of 439.3% from the August 15th total of 36,539 shares. Based on an average daily volume of 453,254 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in shares of Canary XRP ETF during the fourth quarter worth approximately $13,452,000. Marex Group plc purchased a new stake in shares of Canary XRP ETF in the 4th quarter valued at $3,371,000. Jain Global LLC bought a new position in shares of Canary XRP ETF during the 4th quarter valued at $3,227,000. PNC Financial Services Group Inc. bought a new position in shares of Canary XRP ETF during the 4th quarter valued at $41,000. Finally, Main Street Group LTD purchased a new position in Canary XRP ETF in the 1st quarter worth $53,000.

Canary XRP ETF Price Performance

Shares of NASDAQ XRPC opened at $14.46 on Friday. Canary XRP ETF has a 1-year low of $10.52 and a 1-year high of $26.89. The stock’s 50-day moving average is $12.55 and its 200 day moving average is $13.54.

Canary XRP ETF (NASDAQ: XRPC) is an exchange-traded fund listed on the Nasdaq that provides investors with a vehicle for gaining market exposure to XRP, the digital token associated with the Ripple network. As an ETF, XRPC is structured to trade like a stock on an exchange while offering investors exposure to the price movements of the underlying digital asset without requiring direct custody of cryptocurrencies.

The fund’s primary activity is offering exposure to XRP-related returns through holdings and instruments tied to the token.