Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Shares Gap Up – Still a Buy?

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $15.15, but opened at $16.09. Grayscale Ethereum Trust (ETH) shares last traded at $16.24, with a volume of 1,316,212 shares changing hands.

Grayscale Ethereum Trust (ETH) Stock Performance

The company has a 50 day moving average of $21.97 and a two-hundred day moving average of $28.42.

Institutional Trading of Grayscale Ethereum Trust (ETH)

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in Grayscale Ethereum Trust (ETH) in the 2nd quarter worth $376,000. StoneX Group Inc. increased its holdings in shares of Grayscale Ethereum Trust (ETH) by 510.5% in the second quarter. StoneX Group Inc. now owns 134,015 shares of the company’s stock valued at $2,796,000 after purchasing an additional 112,063 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Grayscale Ethereum Trust (ETH) in the second quarter worth about $370,000. Nwam LLC lifted its holdings in shares of Grayscale Ethereum Trust (ETH) by 128.6% during the third quarter. Nwam LLC now owns 96,624 shares of the company’s stock worth $3,020,000 after purchasing an additional 54,359 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Grayscale Ethereum Trust (ETH) in the second quarter valued at approximately $329,000.

Grayscale Ethereum Trust (ETH) Company Profile

Grayscale Ethereum Trust (OTCMKTS: ETHE) is a publicly quoted investment vehicle that offers investors exposure to the price movement of Ethereum through a traditional security. The trust holds Ethereum (“ETH”) as its sole underlying asset and issues shares that trade over the counter in U.S. dollars. By packaging ether into a familiar trust structure, ETHE is designed to simplify the process of gaining exposure to digital assets without the need for personal wallets, private keys, or direct interactions with cryptocurrency exchanges.

As a decentralized asset held in trust, ETHE provides daily transparent reporting of its assets under management, net asset value per share and the trust’s Ethereum holdings.