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

Grayscale XRP Trust ETF (NYSEARCA:GXRP) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 49,934 shares, a drop of 76.3% from the August 31st total of 210,834 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 45,628 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Grayscale XRP Trust ETF

A hedge fund recently bought a new position in Grayscale XRP Trust ETF stock. Gallacher Capital Management LLC acquired a new stake in shares of Grayscale XRP Trust ETF (NYSEARCA:GXRP) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 27,981 shares of the company’s stock, valued at approximately $728,000. Gallacher Capital Management LLC owned approximately 1.14% of Grayscale XRP Trust ETF as of its most recent SEC filing.

Grayscale XRP Trust ETF Trading Down 4.9%

Grayscale XRP Trust ETF stock traded down $1.49 during midday trading on Monday, reaching $28.98. 40,407 shares of the stock traded hands, compared to its average volume of 71,416. Grayscale XRP Trust ETF has a fifty-two week low of $19.25 and a fifty-two week high of $46.51. The firm has a fifty day moving average price of $24.22 and a two-hundred day moving average price of $24.74.

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.