Grayscale XRP Trust ETF (NYSEARCA:GXRP) Shares Shorted: Short Interest Down 87.7% in October

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 8,673 shares, a decrease of 87.7% from the September 30th total of 70,461 shares. Based on an average daily volume of 44,930 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Trading of Grayscale XRP Trust ETF

A hedge fund recently bought a new position in Grayscale XRP Trust ETF stock. Gallacher Capital Management LLC acquired a new position in Grayscale XRP Trust ETF (NYSEARCA:GXRP) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 27,981 shares of the company’s stock, valued at approximately $728,000. Gallacher Capital Management LLC owned 1.14% of Grayscale XRP Trust ETF as of its most recent filing with the SEC.

Grayscale XRP Trust ETF Trading Up 2.2%

Shares of NYSEARCA:GXRP traded up $0.56 during midday trading on Tuesday, hitting $25.54. 9,858 shares of the stock were exchanged, compared to its average volume of 67,805. The company has a 50 day moving average price of $26.62 and a 200-day moving average price of $25.61. Grayscale XRP Trust ETF has a twelve month low of $19.25 and a twelve month high of $46.51.

Grayscale XRP Trust (listed on NYSE Arca under the ticker GXRP) is an investment vehicle managed by Grayscale Investments that holds XRP, the native digital token associated with the Ripple network. The trust issues shares intended to provide investors with exposure to the price movement of XRP through a single, tradable security without requiring direct ownership or custody of the underlying cryptocurrency.

The trust’s primary activity is custody and administration of XRP on behalf of its shareholders and the issuance of shares that reflect the value of the assets held by the trust, less applicable fees and expenses.