Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) Shares Down 4.9% – Time to Sell?

Grayscale Ethereum Trust ETF (NYSEARCA:ETHE) traded down 4.9% on Thursday . The company traded as low as $16.40 and last traded at $16.58. 491,327 shares traded hands during trading, a decline of 92% from the average session volume of 6,065,435 shares. The stock had previously closed at $17.43.

Grayscale Ethereum Trust ETF Trading Down 3.8%

The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 2.06 and a beta of 4.48. The stock has a 50-day simple moving average of $17.78 and a 200-day simple moving average of $24.95.

Institutional Trading of Grayscale Ethereum Trust ETF

Institutional investors have recently added to or reduced their stakes in the stock. StoneX Group Inc. grew its holdings in Grayscale Ethereum Trust ETF by 510.5% during the 2nd quarter. StoneX Group Inc. now owns 134,015 shares of the company’s stock worth $2,796,000 after acquiring an additional 112,063 shares in the last quarter. Nwam LLC raised its stake in shares of Grayscale Ethereum Trust ETF by 128.6% in the 3rd quarter. Nwam LLC now owns 96,624 shares of the company’s stock valued at $3,020,000 after purchasing an additional 54,359 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Grayscale Ethereum Trust ETF by 234.9% in the 3rd quarter. Global Retirement Partners LLC now owns 60,280 shares of the company’s stock valued at $2,066,000 after purchasing an additional 42,279 shares in the last quarter. WESPAC Advisors LLC bought a new position in shares of Grayscale Ethereum Trust ETF during the third quarter worth about $846,000. Finally, Synovus Financial Corp lifted its position in shares of Grayscale Ethereum Trust ETF by 112.0% during the third quarter. Synovus Financial Corp now owns 99,549 shares of the company’s stock worth $3,412,000 after purchasing an additional 52,593 shares during the last quarter.

About Grayscale Ethereum Trust ETF

Grayscale Ethereum Staking ETF (ETHE) is an exchange-traded fund designed to provide exposure to Ether (ETH), with shares intended to reflect the value of the fund’s ETH holdings, minus fees and expenses. The fund may stake a portion of its Ether to seek additional returns through staking rewards, which can enhance total return but may also introduce additional risks and variability. ETHE is a commodity-based product and is not registered under the Investment Company Act of 1940.