Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC – Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $62.12 and traded as high as $62.32. Grayscale Bitcoin Trust ETF shares last traded at $62.32, with a volume of 1,127,093 shares trading hands.
Grayscale Bitcoin Trust ETF Stock Performance
The company has a market cap of $12.09 billion, a P/E ratio of 2.23 and a beta of 2.19. The firm’s fifty day moving average is $62.12 and its two-hundred day moving average is $57.10.
Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF
Hedge funds have recently made changes to their positions in the business. Benchmark Financial Wealth Advisors LLC bought a new position in shares of Grayscale Bitcoin Trust ETF during the third quarter worth $565,000. Ridgepath Capital Management LLC purchased a new position in Grayscale Bitcoin Trust ETF during the first quarter valued at $2,655,000. Independent Financial Group LLC bought a new stake in Grayscale Bitcoin Trust ETF in the 1st quarter valued at $2,691,000. B. Riley Wealth Advisors Inc. increased its holdings in Grayscale Bitcoin Trust ETF by 213.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 19,341 shares of the company’s stock valued at $1,249,000 after acquiring an additional 13,176 shares during the last quarter. Finally, Ascentis Independent Advisors increased its holdings in Grayscale Bitcoin Trust ETF by 136.4% in the 1st quarter. Ascentis Independent Advisors now owns 18,887 shares of the company’s stock valued at $996,000 after acquiring an additional 10,897 shares during 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.
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