iShares Bitcoin Trust ETF (NASDAQ:IBIT) Shares Gap Up – What’s Next?

iShares Bitcoin Trust ETF (NASDAQ:IBIT)’s share price gapped up prior to trading on Monday . The stock had previously closed at $37.97, but opened at $39.38. iShares Bitcoin Trust ETF shares last traded at $39.24, with a volume of 11,029,083 shares.

iShares Bitcoin Trust ETF Trading Up 4.5%

The business has a fifty day moving average price of $40.23 and a 200-day moving average price of $50.79.

Institutional Investors Weigh In On iShares Bitcoin Trust ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Laurore Ltd bought a new position in shares of iShares Bitcoin Trust ETF during the 4th quarter valued at $436,239,000. Mubadala Investment Co PJSC grew its position in shares of iShares Bitcoin Trust ETF by 45.6% during the 4th quarter. Mubadala Investment Co PJSC now owns 12,702,323 shares of the company’s stock valued at $630,670,000 after acquiring an additional 3,975,351 shares during the period. 59 North Capital Management LP bought a new position in shares of iShares Bitcoin Trust ETF in the third quarter worth about $169,100,000. Marshall Wace LLP lifted its holdings in iShares Bitcoin Trust ETF by 229.8% during the fourth quarter. Marshall Wace LLP now owns 3,447,749 shares of the company’s stock valued at $171,181,000 after purchasing an additional 2,402,259 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of iShares Bitcoin Trust ETF by 21.5% in the fourth quarter. Morgan Stanley now owns 13,440,659 shares of the company’s stock worth $667,329,000 after purchasing an additional 2,374,482 shares during the period.

iShares Bitcoin Trust ETF Company Profile

The IShares Bitcoin Trust Registered (IBIT) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the spot price of Bitcoin. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.