Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Sets New 12-Month Low – What’s Next?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $14.56 and last traded at $14.75, with a volume of 970534 shares trading hands. The stock had previously closed at $15.04.

Grayscale Ethereum Mini Trust ETF Price Performance

The business’s 50-day simple moving average is $19.24 and its two-hundred day simple moving average is $22.12. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 6.34 and a beta of 2.48.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Several hedge funds have recently modified their holdings of ETH. Turim 21 Investimentos Ltda. bought a new stake in Grayscale Ethereum Mini Trust ETF during the 1st quarter worth $30,000. Global Assets Advisory LLC bought a new position in Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $45,000. Evercore Wealth Management LLC bought a new position in Grayscale Ethereum Mini Trust ETF in the first quarter valued at about $210,000. Sunbelt Securities Inc. boosted its stake in shares of Grayscale Ethereum Mini Trust ETF by 1,060.0% during 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 boosted its stake in shares of Grayscale Ethereum Mini Trust ETF by 8.0% during 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.