Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Here’s What Happened

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.83, but opened at $17.29. Grayscale Ethereum Mini Trust ETF shares last traded at $17.25, with a volume of 990,315 shares changing hands.

Grayscale Ethereum Mini Trust ETF Price Performance

The business has a fifty day simple moving average of $20.21 and a 200 day simple moving average of $22.95. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 7.43 and a beta of 2.48.

Hedge Funds Weigh In On Grayscale Ethereum Mini Trust ETF

A number of hedge funds have recently made changes to their positions in ETH. Turim 21 Investimentos Ltda. acquired a new position in shares of Grayscale Ethereum Mini Trust ETF during the first quarter valued at approximately $30,000. Global Assets Advisory LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at approximately $45,000. Evercore Wealth Management LLC purchased a new stake in shares of Grayscale Ethereum Mini Trust ETF in the first quarter valued at approximately $210,000. Sunbelt Securities Inc. grew its position in shares of Grayscale Ethereum Mini Trust ETF by 1,060.0% in the first quarter. Sunbelt Securities Inc. now owns 11,217 shares of the company’s stock valued at $223,000 after purchasing an additional 10,250 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Grayscale Ethereum Mini Trust ETF by 8.0% in the first quarter. Kestra Private Wealth Services LLC now owns 11,290 shares of the company’s stock valued at $224,000 after purchasing an additional 835 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.

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.