Grayscale XRP Trust ETF (NYSEARCA:GXRP) Shares Shorted: Short Interest Down 70.1% in October

Grayscale XRP Trust ETF (NYSEARCA:GXRP) was the target of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 2,590 shares, a decrease of 70.1% from the October 15th total of 8,673 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 29,177 shares, the days-to-cover ratio is presently 0.1 days.

Grayscale XRP Trust ETF Stock Performance

Shares of GXRP traded down $0.27 during mid-day trading on Friday, reaching $19.78. 20,066 shares of the company’s stock were exchanged, compared to its average volume of 69,150. The business’s fifty day simple moving average is $26.23 and its 200-day simple moving average is $25.45. Grayscale XRP Trust ETF has a 52-week low of $19.25 and a 52-week high of $46.51.

Institutional Trading of Grayscale XRP Trust ETF

An institutional investor recently bought a new stake in Grayscale XRP Trust ETF stock. Gallacher Capital Management LLC acquired a new position in shares of Grayscale XRP Trust ETF (NYSEARCA:GXRP) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,981 shares of the company’s stock, valued at approximately $728,000. Gallacher Capital Management LLC owned about 1.14% of Grayscale XRP Trust ETF as of its most recent filing with the SEC.

Grayscale XRP Trust ETF Company Profile

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.