Coastal Bridge Advisors LLC Makes New $276,000 Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Coastal Bridge Advisors LLC acquired a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,735 shares of the company’s stock, valued at approximately $276,000.

Other large investors have also recently modified their holdings of the company. Wealth Quarterback LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $215,000. RFG Advisory LLC bought a new stake in Grayscale Bitcoin Trust in the 4th quarter worth about $262,000. Arkadios Wealth Advisors bought a new position in Grayscale Bitcoin Trust during the 4th quarter valued at about $245,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust in the fourth quarter worth approximately $692,000. Finally, Mutual Advisors LLC raised its holdings in shares of Grayscale Bitcoin Trust by 2.0% during the fourth quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock valued at $583,000 after purchasing an additional 146 shares during the last quarter.

Grayscale Bitcoin Trust Price Performance

GBTC stock opened at $75.90 on Thursday. The company has a market cap of $18.31 billion, a P/E ratio of 2.23 and a beta of 2.51. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11. The stock’s fifty day moving average price is $68.44 and its 200-day moving average price is $71.77.

Grayscale Bitcoin Trust 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.