Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sets New 12-Month High – Time to Buy?

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $54.76 and last traded at $54.92, with a volume of 842157 shares traded. The stock had previously closed at $53.60.

Grayscale Bitcoin Mini Trust ETF Price Performance

The company’s 50 day moving average is $50.77 and its 200-day moving average is $46.64.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BTC. Headlands Technologies LLC boosted its holdings in Grayscale Bitcoin Mini Trust ETF by 219.1% in the first quarter. Headlands Technologies LLC now owns 702 shares of the company’s stock worth $26,000 after acquiring an additional 482 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Grayscale Bitcoin Mini Trust ETF during the 1st quarter valued at about $27,000. ORG Partners LLC increased its stake in Grayscale Bitcoin Mini Trust ETF by 1,402.6% during the 2nd quarter. ORG Partners LLC now owns 571 shares of the company’s stock valued at $27,000 after purchasing an additional 533 shares in the last quarter. Keystone Financial Group Inc. purchased a new position in Grayscale Bitcoin Mini Trust ETF in the first quarter worth about $28,000. Finally, Elequin Capital LP purchased a new position in Grayscale Bitcoin Mini Trust ETF in the first quarter worth about $28,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

About Grayscale Bitcoin Mini Trust ETF

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.