Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Sees Large Increase in Short Interest

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,224,929 shares, an increase of 117.7% from the June 15th total of 562,671 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 2,738,676 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of institutional investors have recently modified their holdings of ETH. Turim 21 Investimentos Ltda. purchased a new position in Grayscale Ethereum Mini Trust ETF during the 1st quarter worth $30,000. Global Assets Advisory LLC acquired a new position in Grayscale Ethereum Mini Trust ETF in the first quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. raised 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 buying an additional 1,313 shares during the last quarter. Beaird Harris Wealth Management LLC raised 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 buying an additional 929 shares during the last quarter. Finally, Evercore Wealth Management LLC acquired a new stake in shares of Grayscale Ethereum Mini Trust ETF during the first quarter worth about $210,000. 77.84% of the stock is owned by institutional investors and hedge funds.

Grayscale Ethereum Mini Trust ETF Stock Down 2.6%

ETH traded down $0.47 during trading on Thursday, hitting $17.85. 1,147,865 shares of the stock were exchanged, compared to its average volume of 5,593,546. Grayscale Ethereum Mini Trust ETF has a 1-year low of $14.53 and a 1-year high of $45.78. The stock has a fifty day moving average price of $17.81 and a two-hundred day moving average price of $20.98. The firm has a market capitalization of $1.71 billion, a P/E ratio of 7.56 and a beta of 2.60.

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.