GTS Securities Slashes Its XOVR Stake -- Selling $354 Million Worth of Shares

GTS Securities sold approximately 19.5 million shares of the ERShares Private-Public Crossover ETF (XOVR) in Q1 2026, worth $354.2 million, reducing its stake from 13.4% to 0.03% of AUM. While the sale appears dramatic, analysts note that GTS is a high-frequency trading firm whose large position shifts are routine. XOVR has underperformed the S&P 500 by 17.5 percentage points over the past year, returning 10.5% versus the broader market's gains.