Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Sees Large Growth in Short Interest

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 1,224,929 shares, a growth of 117.7% from the June 15th total of 562,671 shares. Based on an average daily volume of 2,738,676 shares, the short-interest ratio is presently 0.4 days. Currently, 1.3% of the shares of the stock are short sold.

Grayscale Ethereum Mini Trust ETF Stock Performance

Shares of Grayscale Ethereum Mini Trust ETF stock opened at $17.85 on Friday. Grayscale Ethereum Mini Trust ETF has a one year low of $14.53 and a one year high of $45.78. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 7.56 and a beta of 2.60. The business’s 50 day moving average price is $17.73 and its 200 day moving average price is $20.91.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ETH. Beaird Harris Wealth Management LLC boosted its position in shares of Grayscale Ethereum Mini Trust ETF by 20.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 5,451 shares of the company’s stock valued at $82,000 after acquiring an additional 929 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Grayscale Ethereum Mini Trust ETF by 58.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,575 shares of the company’s stock worth $54,000 after purchasing an additional 1,313 shares during the period. Cooper Financial Group raised its stake in Grayscale Ethereum Mini Trust ETF by 11.9% during the second quarter. Cooper Financial Group now owns 44,433 shares of the company’s stock worth $668,000 after purchasing an additional 4,740 shares during the period. Miller Global Investments LLC raised its stake in Grayscale Ethereum Mini Trust ETF by 285.0% during the second quarter. Miller Global Investments LLC now owns 37,972 shares of the company’s stock worth $571,000 after purchasing an additional 28,109 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings in Grayscale Ethereum Mini Trust ETF by 1,060.0% in the 1st 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 during the last quarter. Hedge funds and other institutional investors 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.