Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) Shares Gap Up – Still a Buy?

Grayscale Ethereum Mini Trust ETF (NYSEARCA:ETH) shares gapped up prior to trading on Monday . The stock had previously closed at $14.95, but opened at $16.05. Grayscale Ethereum Mini Trust ETF shares last traded at $16.05, with a volume of 996,157 shares trading hands.

Grayscale Ethereum Mini Trust ETF Trading Up 8.0%

The stock has a market cap of $1.37 billion, a P/E ratio of 6.84 and a beta of 2.48. The company has a 50 day simple moving average of $20.59 and a 200 day simple moving average of $23.36.

Institutional Investors Weigh In On Grayscale Ethereum Mini Trust ETF

Several institutional investors have recently bought and sold shares of ETH. World Investment Advisors lifted its stake in Grayscale Ethereum Mini Trust ETF by 4.9% in the 4th quarter. World Investment Advisors now owns 37,780 shares of the company’s stock valued at $1,060,000 after acquiring an additional 1,757 shares in the last quarter. Freedom Financial Partners LLC lifted its stake in Grayscale Ethereum Mini Trust ETF by 8.3% in the 1st quarter. Freedom Financial Partners LLC now owns 37,342 shares of the company’s stock valued at $742,000 after acquiring an additional 2,870 shares in the last quarter. Verde Capital Management lifted its stake in Grayscale Ethereum Mini Trust ETF by 79.4% in the 1st quarter. Verde Capital Management now owns 178,118 shares of the company’s stock valued at $3,537,000 after acquiring an additional 78,826 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Grayscale Ethereum Mini Trust ETF by 27.3% in the 1st quarter. AdvisorNet Financial Inc now owns 34,582 shares of the company’s stock valued at $687,000 after acquiring an additional 7,414 shares in the last quarter. Finally, RFG Advisory LLC lifted its stake in Grayscale Ethereum Mini Trust ETF by 49.4% in the 1st quarter. RFG Advisory LLC now owns 62,301 shares of the company’s stock valued at $1,237,000 after acquiring an additional 20,598 shares in the last quarter. Institutional investors own 77.84% of the company’s stock.

About Grayscale Ethereum Mini Trust ETF

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.