Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Sees Large Increase in Short Interest

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 3,014,451 shares, a growth of 123.7% from the April 15th total of 1,347,705 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average trading volume of 2,067,172 shares, the days-to-cover ratio is presently 1.5 days.

Grayscale Bitcoin Trust ETF Stock Performance

NYSEARCA:GBTC opened at $61.44 on Friday. The stock has a fifty day moving average price of $57.28 and a two-hundred day moving average price of $64.23. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 2.23 and a beta of 2.22. Grayscale Bitcoin Trust ETF has a 1 year low of $48.56 and a 1 year high of $99.12.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Gateway Wealth Partners LLC raised its position in Grayscale Bitcoin Trust ETF by 100.0% in the first quarter. Gateway Wealth Partners LLC now owns 6,680 shares of the company’s stock worth $352,000 after acquiring an additional 3,340 shares in the last quarter. Waverly Advisors LLC increased its holdings in Grayscale Bitcoin Trust ETF by 3.1% in the first quarter. Waverly Advisors LLC now owns 33,832 shares of the company’s stock valued at $1,785,000 after buying an additional 1,019 shares in the last quarter. Galaxy Digital Inc. purchased a new position in Grayscale Bitcoin Trust ETF in the first quarter valued at about $440,000. Lido Advisors LLC increased its holdings in Grayscale Bitcoin Trust ETF by 3.6% in the first quarter. Lido Advisors LLC now owns 165,469 shares of the company’s stock valued at $8,730,000 after buying an additional 5,674 shares in the last quarter. Finally, Clearwater Capital Advisors LLC increased its holdings in Grayscale Bitcoin Trust ETF by 76.1% in the first quarter. Clearwater Capital Advisors LLC now owns 17,210 shares of the company’s stock valued at $908,000 after buying an additional 7,437 shares in the last quarter.

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.