M1 Capital Management LLC Makes New Investment in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC)

M1 Capital Management LLC purchased a new stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,044 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GBTC. Synergy Investment Management LLC acquired a new position in Grayscale Bitcoin Trust ETF in the fourth quarter valued at about $30,000. Activest Wealth Management raised its stake in shares of Grayscale Bitcoin Trust ETF by 53.0% in the 4th quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Pacific Center for Financial Services purchased a new stake in Grayscale Bitcoin Trust ETF in the fourth quarter valued at approximately $31,000. Measured Risk Portfolios Inc. acquired a new position in Grayscale Bitcoin Trust ETF during the fourth quarter worth $32,000. Finally, Capital A Wealth Management LLC acquired a new position in Grayscale Bitcoin Trust ETF during the fourth quarter worth $35,000.

Grayscale Bitcoin Trust ETF Stock Up 1.1%

GBTC opened at $86.67 on Wednesday. Grayscale Bitcoin Trust ETF has a 52 week low of $39.56 and a 52 week high of $88.36. The business has a fifty day simple moving average of $73.07 and a 200-day simple moving average of $74.55. The firm has a market cap of $20.64 billion, a P/E ratio of 2.23 and a beta of 2.51.

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.