Merit Financial Group LLC Has $4.91 Million Stake in Grayscale Bitcoin Trust ETF $GBTC

Merit Financial Group LLC reduced its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,843 shares of the company’s stock after selling 6,040 shares during the period. Merit Financial Group LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $4,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in GBTC. Bank of America Corp DE raised its holdings in Grayscale Bitcoin Trust ETF by 1,700.8% in the 4th quarter. Bank of America Corp DE now owns 2,161 shares of the company’s stock valued at $160,000 after acquiring an additional 2,041 shares in the last quarter. Fiduciary Financial Group LLC increased its position in shares of Grayscale Bitcoin Trust ETF by 1.4% in the first quarter. Fiduciary Financial Group LLC now owns 12,678 shares of the company’s stock worth $796,000 after purchasing an additional 177 shares during the period. Vista Finance LLC raised its stake in Grayscale Bitcoin Trust ETF by 10.1% in the first quarter. Vista Finance LLC now owns 12,987 shares of the company’s stock valued at $846,000 after purchasing an additional 1,194 shares in the last quarter. Sowell Financial Services LLC raised its stake in Grayscale Bitcoin Trust ETF by 0.7% in the first quarter. Sowell Financial Services LLC now owns 40,147 shares of the company’s stock valued at $2,616,000 after purchasing an additional 298 shares in the last quarter. Finally, Western Pacific Wealth Management LP lifted its position in Grayscale Bitcoin Trust ETF by 25.0% during the first quarter. Western Pacific Wealth Management LP now owns 2,500 shares of the company’s stock worth $163,000 after purchasing an additional 500 shares during the period.

Grayscale Bitcoin Trust ETF Stock Up 2.1%

GBTC stock opened at $98.43 on Tuesday. The company’s 50-day moving average price is $90.13 and its two-hundred day moving average price is $83.23. The firm has a market cap of $23.70 billion, a P/E ratio of 2.23 and a beta of 2.47. Grayscale Bitcoin Trust ETF has a 12 month low of $46.83 and a 12 month high of $99.12.

Grayscale Bitcoin Trust ETF Company 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.