Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sets New 52-Week Low – Here’s Why

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $26.56 and last traded at $26.66, with a volume of 2085926 shares traded. The stock had previously closed at $28.10.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The stock has a 50-day moving average price of $32.78 and a 200 day moving average price of $34.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in Grayscale Bitcoin Mini Trust ETF by 44.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 57,801 shares of the company’s stock worth $2,926,000 after acquiring an additional 17,667 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in Grayscale Bitcoin Mini Trust ETF during the 3rd quarter worth approximately $1,486,000. Kaleidoscope Capital LP grew its holdings in Grayscale Bitcoin Mini Trust ETF by 7.4% during the 3rd quarter. Kaleidoscope Capital LP now owns 543,346 shares of the company’s stock worth $27,510,000 after acquiring an additional 37,346 shares in the last quarter. Van Hulzen Asset Management LLC grew its holdings in Grayscale Bitcoin Mini Trust ETF by 41.1% during the 4th quarter. Van Hulzen Asset Management LLC now owns 57,283 shares of the company’s stock worth $2,219,000 after acquiring an additional 16,686 shares in the last quarter. Finally, Austin Wealth Management LLC acquired a new position in Grayscale Bitcoin Mini Trust ETF during the 4th quarter worth approximately $701,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

About Grayscale Bitcoin Mini Trust ETF

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.