Grayscale XRP Trust ETF (NYSEARCA:GXRP) Short Interest Update

Grayscale XRP Trust ETF (NYSEARCA:GXRP) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 92,340 shares, a growth of 407.9% from the June 30th total of 18,180 shares. Based on an average daily volume of 29,522 shares, the short-interest ratio is currently 3.1 days. Currently, 3.8% of the shares of the stock are short sold.

Grayscale XRP Trust ETF Stock Down 1.5%

GXRP stock traded down $0.33 during midday trading on Friday, reaching $21.07. The company had a trading volume of 7,631 shares, compared to its average volume of 79,421. The company’s 50 day simple moving average is $22.67. Grayscale XRP Trust ETF has a 1-year low of $19.71 and a 1-year high of $46.51.

Hedge Funds Weigh In On Grayscale XRP Trust ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Front Row Advisors LLC acquired a new stake in shares of Grayscale XRP Trust ETF during the 4th quarter worth approximately $49,000. Gallacher Capital Management LLC acquired a new position in Grayscale XRP Trust ETF during the first quarter valued at approximately $728,000. Finally, Goldman Sachs Group Inc. bought a new stake in Grayscale XRP Trust ETF during the fourth quarter worth $37,961,000.

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.