Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Shares Gap Up – Here’s Why

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $52.15, but opened at $54.06. Grayscale Bitcoin Trust ETF shares last traded at $53.88, with a volume of 573,102 shares trading hands.

Grayscale Bitcoin Trust ETF Price Performance

The business’s fifty day moving average price is $55.31 and its 200 day moving average price is $70.00. The stock has a market cap of $13.11 billion, a P/E ratio of 2.23 and a beta of 2.40.

Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC bought a new stake in Grayscale Bitcoin Trust ETF during the 4th quarter worth approximately $27,000. Holos Integrated Wealth LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the fourth quarter worth $28,000. Root Financial Partners LLC bought a new position in Grayscale Bitcoin Trust ETF during the 3rd quarter worth $29,000. CoreCap Advisors LLC lifted its holdings in Grayscale Bitcoin Trust ETF by 160.9% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the period. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the 4th quarter valued at about $30,000.

Grayscale Bitcoin Trust ETF Company Profile

The Grayscale Bitcoin Trust (GBTC) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is passively managed, offering exposure to the daily USD spot price of bitcoin (BTC). An investment in the fund is not a direct investment in bitcoin. GBTC was launched on Jan 11, 2024 and is issued by Grayscale.