Grayscale Bitcoin Trust ETF $GBTC Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its stake in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 5.9% during the third quarter, Holdings Channel reports. The institutional investor owned 373,430 shares of the company’s stock after selling 23,477 shares during the period. Wealthfront Advisers LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $33,523,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ieq Capital LLC grew its holdings in shares of Grayscale Bitcoin Trust ETF by 400.6% in the 2nd quarter. Ieq Capital LLC now owns 113,310 shares of the company’s stock worth $9,612,000 after acquiring an additional 90,675 shares during the period. WESCAP Management Group Inc. purchased a new stake in Grayscale Bitcoin Trust ETF during the second quarter worth $6,190,000. Global Retirement Partners LLC purchased a new stake in Grayscale Bitcoin Trust ETF during the second quarter worth $5,398,000. Osaic Holdings Inc. grew its holdings in Grayscale Bitcoin Trust ETF by 180.4% in the second quarter. Osaic Holdings Inc. now owns 70,124 shares of the company’s stock valued at $5,949,000 after purchasing an additional 45,112 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Grayscale Bitcoin Trust ETF by 203.6% in the second quarter. Corient Private Wealth LLC now owns 49,653 shares of the company’s stock valued at $4,212,000 after buying an additional 33,299 shares in the last quarter.

Grayscale Bitcoin Trust ETF Trading Up 1.0%

Shares of NYSEARCA GBTC opened at $55.19 on Tuesday. The company’s 50-day moving average price is $68.54 and its 200 day moving average price is $80.01. Grayscale Bitcoin Trust ETF has a 52 week low of $48.56 and a 52 week high of $99.12. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40.

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.