Grayscale Bitcoin Trust ETF $GBTC Shares Sold by Flagstar Advisors Inc.

Flagstar Advisors Inc. reduced its holdings in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,001 shares of the company’s stock after selling 629 shares during the period. Flagstar Advisors Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GBTC. Palacios Wealth Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF in the first quarter worth about $65,170,000. DRW Securities LLC raised its stake in shares of Grayscale Bitcoin Trust ETF by 849.0% in the first quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock worth $24,151,000 after purchasing an additional 331,538 shares during the last quarter. TB Alternative Assets Ltd. raised its stake in shares of Grayscale Bitcoin Trust ETF by 942.4% in the first quarter. TB Alternative Assets Ltd. now owns 290,203 shares of the company’s stock worth $18,913,000 after purchasing an additional 262,362 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF in the first quarter worth about $4,950,000. Finally, Cresset Asset Management LLC raised its stake in shares of Grayscale Bitcoin Trust ETF by 27.0% in the first quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock worth $19,549,000 after purchasing an additional 63,749 shares during the last quarter.

Grayscale Bitcoin Trust ETF Stock Down 2.1%

Grayscale Bitcoin Trust ETF stock opened at $90.34 on Monday. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 2.23 and a beta of 2.47. Grayscale Bitcoin Trust ETF has a 52 week low of $46.83 and a 52 week high of $96.62. The business’s 50-day moving average price is $90.65 and its 200 day moving average price is $81.33.

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.