Grayscale Bitcoin Trust ETF Target of Unusually Large Options Trading (NYSEARCA:GBTC)

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) saw unusually large options trading activity on Wednesday. Investors acquired 21,622 call options on the company. This represents an increase of 765% compared to the average daily volume of 2,501 call options.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

Several institutional investors have recently modified their holdings of the business. Garton & Associates Financial Advisors LLC bought a new position in Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the fourth quarter worth approximately $30,000. Hollencrest Capital Management raised its holdings in shares of Grayscale Bitcoin Trust ETF by 480.8% during the first quarter. Hollencrest Capital Management now owns 726 shares of the company’s stock valued at $38,000 after purchasing an additional 601 shares during the last quarter. RHL Group LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF during the fourth quarter valued at approximately $43,000. Finally, Quattro Advisors LLC bought a new position in Grayscale Bitcoin Trust ETF during the fourth quarter valued at approximately $52,000.

Grayscale Bitcoin Trust ETF Trading Down 0.1%

GBTC traded down $0.04 during trading on Wednesday, hitting $49.09. 1,611,345 shares of the company’s stock traded hands, compared to its average volume of 3,103,333. The company’s 50 day simple moving average is $49.09 and its two-hundred day simple moving average is $54.41. Grayscale Bitcoin Trust ETF has a 12-month low of $44.98 and a 12-month high of $99.12. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 2.23 and a beta of 2.17.

Grayscale Bitcoin Trust ETF Company 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.