Brave Asset Management Inc. Makes New Investment in iShares Bitcoin Trust ETF $IBIT

Brave Asset Management Inc. bought a new position in iShares Bitcoin Trust ETF (NASDAQ:IBIT) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 11,137 shares of the company’s stock, valued at approximately $690,000.

Several other hedge funds have also added to or reduced their stakes in IBIT. Goldman Sachs Group Inc. boosted its holdings in iShares Bitcoin Trust ETF by 80.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,831,854 shares of the company’s stock worth $1,443,239,000 after acquiring an additional 13,731,993 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of iShares Bitcoin Trust ETF in the second quarter worth $408,082,000. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of iShares Bitcoin Trust ETF in the first quarter worth $133,168,000. Senator Investment Group LP purchased a new position in shares of iShares Bitcoin Trust ETF in the first quarter worth $59,215,000. Finally, Allen Operations LLC purchased a new position in shares of iShares Bitcoin Trust ETF in the first quarter worth $31,372,000.

iShares Bitcoin Trust ETF Stock Performance

IBIT stock opened at $62.10 on Friday. iShares Bitcoin Trust ETF has a 1-year low of $33.47 and a 1-year high of $69.89. The business has a fifty day moving average price of $65.19 and a 200-day moving average price of $58.96.

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.