Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sees Significant Drop in Short Interest

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 551,188 shares, a decline of 35.3% from the June 15th total of 852,271 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 2,172,616 shares, the days-to-cover ratio is presently 0.3 days.

Grayscale Bitcoin Mini Trust ETF Stock Performance

Grayscale Bitcoin Mini Trust ETF stock traded down $0.30 during trading hours on Friday, reaching $28.11. 784,754 shares of the company’s stock traded hands, compared to its average volume of 3,286,190. Grayscale Bitcoin Mini Trust ETF has a fifty-two week low of $25.65 and a fifty-two week high of $55.96. The firm’s 50 day moving average is $29.95 and its 200-day moving average is $32.48.

Hedge Funds Weigh In On Grayscale Bitcoin Mini Trust ETF

Large investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new position in Grayscale Bitcoin Mini Trust ETF in the fourth quarter valued at approximately $27,000. Strategic Advocates LLC bought a new stake in shares of Grayscale Bitcoin Mini Trust ETF during the 3rd quarter valued at $28,000. Cornerstone Planning Group LLC lifted its stake in shares of Grayscale Bitcoin Mini Trust ETF by 498.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 958 shares of the company’s stock valued at $29,000 after purchasing an additional 798 shares during the period. Abound Financial LLC acquired a new position in shares of Grayscale Bitcoin Mini Trust ETF in the 4th quarter valued at $34,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Grayscale Bitcoin Mini Trust ETF in the 3rd quarter worth $34,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Grayscale Bitcoin Mini Trust ETF Company Profile

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.