Ridgepath Capital Management LLC Makes New $2.65 Million Investment in Grayscale Bitcoin Trust ETF $GBTC

Ridgepath Capital Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,324 shares of the company’s stock, valued at approximately $2,655,000. Grayscale Bitcoin Trust ETF makes up 1.3% of Ridgepath Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management raised its holdings in shares of Grayscale Bitcoin Trust ETF by 480.8% in the 1st quarter. Hollencrest Capital Management now owns 726 shares of the company’s stock worth $38,000 after buying an additional 601 shares in the last quarter. Spartan Wealth Advisory Services LLC acquired a new stake in Grayscale Bitcoin Trust ETF in the 1st quarter valued at $488,000. Quadrant Private Wealth Management LLC grew its position in Grayscale Bitcoin Trust ETF by 2.0% in the first quarter. Quadrant Private Wealth Management LLC now owns 14,847 shares of the company’s stock valued at $783,000 after acquiring an additional 297 shares during the period. Bessemer Group Inc. grew its position in Grayscale Bitcoin Trust ETF by 23.8% in the first quarter. Bessemer Group Inc. now owns 5,986 shares of the company’s stock valued at $316,000 after acquiring an additional 1,150 shares during the period. Finally, SteelPeak Wealth LLC raised its stake in Grayscale Bitcoin Trust ETF by 9.9% during the first quarter. SteelPeak Wealth LLC now owns 19,856 shares of the company’s stock worth $1,048,000 after acquiring an additional 1,792 shares in the last quarter.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of NYSEARCA GBTC opened at $50.45 on Tuesday. The stock has a market cap of $9.79 billion, a PE ratio of 2.23 and a beta of 2.19. The business has a fifty day moving average of $52.03 and a two-hundred day moving average of $56.89. Grayscale Bitcoin Trust ETF has a 52-week low of $44.98 and a 52-week high of $99.12.

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.