Belpointe Asset Management LLC lifted its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Free Report) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,446 shares of the company’s stock after purchasing an additional 155 shares during the period. Belpointe Asset Management LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $1,141,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GBTC. Palacios Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the first quarter valued at about $65,170,000. DRW Securities LLC lifted its stake in shares of Grayscale Bitcoin Trust ETF by 849.0% in the first quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock valued at $24,151,000 after purchasing an additional 331,538 shares during the period. SCS Capital Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the first quarter valued at about $4,950,000. Cresset Asset Management LLC lifted its stake in shares of Grayscale Bitcoin Trust ETF by 27.0% in the first quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock valued at $19,549,000 after purchasing an additional 63,749 shares during the period. Finally, Ethos Financial Group LLC acquired a new position in Grayscale Bitcoin Trust ETF during the first quarter worth about $3,468,000.
Grayscale Bitcoin Trust ETF Trading Down 3.1%
Shares of GBTC opened at $95.37 on Wednesday. The stock has a market cap of $22.96 billion, a P/E ratio of 2.23 and a beta of 2.47. The company has a 50-day moving average of $90.19 and a two-hundred day moving average of $83.31. Grayscale Bitcoin Trust ETF has a 12-month low of $46.83 and a 12-month high of $99.12.
Grayscale Bitcoin Trust ETF 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.
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