Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Still a Buy?

Shares of Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) gapped up before the market opened on Monday . The stock had previously closed at $14.95, but opened at $16.05. Grayscale Ethereum Mini Trust ETF shares last traded at $16.05, with a volume of 996,157 shares.

Grayscale Ethereum Mini Trust ETF Stock Performance

The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6.84 and a beta of 2.48. The business has a fifty day moving average of $20.59 and a two-hundred day moving average of $23.36.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ETH. Verde Capital Management increased its holdings in shares of Grayscale Ethereum Mini Trust ETF by 79.4% during the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock worth $3,537,000 after acquiring an additional 78,826 shares during the last quarter. Graetz Wealth LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth approximately $1,334,000. Integrity Wealth Partners LLC acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth approximately $707,000. SJS Investment Consulting Inc. increased its holdings in shares of Grayscale Ethereum Mini Trust ETF by 46,640.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 23,370 shares of the company’s stock worth $464,000 after acquiring an additional 23,320 shares during the last quarter. Finally, Broadhurst Jeffrey B acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the 1st quarter worth approximately $421,000. 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.