Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Shares Gap Up – Here’s What Happened

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) shares gapped up before the market opened on Thursday . The stock had previously closed at $30.27, but opened at $31.81. Grayscale Bitcoin Mini Trust ETF shares last traded at $31.64, with a volume of 954,006 shares traded.

Grayscale Bitcoin Mini Trust ETF Price Performance

The firm has a 50 day moving average of $28.10 and a 200-day moving average of $30.52.

Hedge Funds Weigh In On Grayscale Bitcoin Mini Trust ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of Grayscale Bitcoin Mini Trust ETF by 26.7% in the fourth quarter. Millennium Management LLC now owns 3,167,718 shares of the company’s stock worth $122,686,000 after purchasing an additional 667,553 shares during the period. Wells Fargo & Company MN lifted its position in Grayscale Bitcoin Mini Trust ETF by 157.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,472,684 shares of the company’s stock worth $57,037,000 after purchasing an additional 900,987 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Grayscale Bitcoin Mini Trust ETF by 20.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,297,393 shares of the company’s stock worth $50,248,000 after buying an additional 220,174 shares in the last quarter. Sloy Dahl & Holst LLC grew its stake in Grayscale Bitcoin Mini Trust ETF by 19.7% during the fourth quarter. Sloy Dahl & Holst LLC now owns 807,296 shares of the company’s stock worth $31,267,000 after buying an additional 132,586 shares in the last quarter. Finally, NewEdge Wealth LLC increased its holdings in Grayscale Bitcoin Mini Trust ETF by 3,052.8% in the 1st quarter. NewEdge Wealth LLC now owns 383,564 shares of the company’s stock valued at $11,503,000 after buying an additional 371,398 shares during the period. 27.38% of the stock is 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.