Grayscale XRP Trust ETF (NYSEARCA:GXRP) Sees Significant Drop in Short Interest

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 18,180 shares, a decrease of 63.1% from the June 15th total of 49,321 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 44,508 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Grayscale XRP Trust ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new position in shares of Grayscale XRP Trust ETF during the 4th quarter worth approximately $37,961,000. Gallacher Capital Management LLC acquired a new position in Grayscale XRP Trust ETF during the first quarter worth $728,000. Finally, Front Row Advisors LLC bought a new stake in Grayscale XRP Trust ETF during the fourth quarter worth $49,000.

Grayscale XRP Trust ETF Price Performance

NYSEARCA:GXRP opened at $21.44 on Monday. Grayscale XRP Trust ETF has a twelve month low of $19.71 and a twelve month high of $46.51. The business’s 50 day moving average price is $23.93.

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.