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

Grayscale XRP Trust ETF (NYSEARCA:GXRP) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 71,680 shares, an increase of 78.2% from the April 30th total of 40,220 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 48,139 shares, the days-to-cover ratio is presently 1.5 days.

Grayscale XRP Trust ETF Trading Down 1.6%

Grayscale XRP Trust ETF stock opened at $25.18 on Tuesday. The company has a 50 day moving average of $26.81. Grayscale XRP Trust ETF has a 1 year low of $22.08 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 added to or reduced their stakes in GXRP. Gallacher Capital Management LLC purchased a new position in Grayscale XRP Trust ETF in the first quarter valued at $728,000. Front Row Advisors LLC purchased a new stake in Grayscale XRP Trust ETF during the 4th quarter worth about $49,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Grayscale XRP Trust ETF in the 4th quarter valued at about $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.