Genesee Capital Advisors LLC Has $280,000 Stock Holdings in Grayscale Bitcoin Trust ETF $GBTC

Genesee Capital Advisors LLC cut its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 12.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,305 shares of the company’s stock after selling 450 shares during the period. Genesee Capital Advisors LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GBTC. Palacios Wealth Management LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at $65,170,000. DRW Securities LLC raised its holdings in Grayscale Bitcoin Trust ETF by 849.0% in the 1st quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock valued at $24,151,000 after acquiring an additional 331,538 shares in the last quarter. SCS Capital Management LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at $4,950,000. Cresset Asset Management LLC raised its holdings in Grayscale Bitcoin Trust ETF by 27.0% in the 1st quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock valued at $19,549,000 after acquiring an additional 63,749 shares in the last quarter. Finally, Ethos Financial Group LLC bought a new position in shares of Grayscale Bitcoin Trust ETF in the 1st quarter valued at $3,468,000.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of GBTC opened at $91.42 on Monday. Grayscale Bitcoin Trust ETF has a 52-week low of $48.86 and a 52-week high of $99.12. The business’s fifty day moving average is $90.41 and its 200-day moving average is $83.94. The firm has a market cap of $22.01 billion, a price-to-earnings ratio of 2.23 and a beta of 2.47.

About Grayscale Bitcoin Trust ETF

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.