WESCAP Management Group Inc. Makes New $6.19 Million Investment in Grayscale Bitcoin Trust ETF $GBTC

WESCAP Management Group Inc. acquired a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 72,972 shares of the company’s stock, valued at approximately $6,190,000. Grayscale Bitcoin Trust ETF accounts for 1.4% of WESCAP Management Group Inc.’s portfolio, making the stock its 20th biggest position.

Several other hedge funds have also made changes to their positions in the stock. Palacios Wealth Management LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at approximately $65,170,000. DRW Securities LLC increased its position in shares of Grayscale Bitcoin Trust ETF by 849.0% during the first quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock valued at $24,151,000 after purchasing an additional 331,538 shares during the period. SCS Capital Management LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF during the first quarter valued at approximately $4,950,000. 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 valued at $19,549,000 after purchasing an additional 63,749 shares in the last quarter. Finally, Ethos Financial Group LLC bought a new position in Grayscale Bitcoin Trust ETF in the first quarter worth $3,468,000.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of GBTC stock opened at $81.30 on Friday. Grayscale Bitcoin Trust ETF has a 52-week low of $59.79 and a 52-week high of $99.12. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. The firm has a fifty day moving average of $88.36 and a 200-day moving average of $86.57.

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.