Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Down to $54.89

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $54.89, but opened at $53.50. Grayscale Bitcoin Trust shares last traded at $53.72, with a volume of 341,719 shares trading hands.

Grayscale Bitcoin Trust Trading Down 2.4 %

The business has a fifty day moving average price of $57.86 and a two-hundred day moving average price of $51.73. The firm has a market capitalization of $27.37 billion, a PE ratio of 2.29 and a beta of 1.25.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

A number of institutional investors and hedge funds have recently made changes to their positions in GBTC. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Grayscale Bitcoin Trust in the first quarter valued at approximately $27,000. Toth Financial Advisory Corp purchased a new position in Grayscale Bitcoin Trust during the 1st quarter valued at about $28,000. YHB Investment Advisors Inc. acquired a new position in Grayscale Bitcoin Trust in the 1st quarter valued at about $28,000. Hollencrest Capital Management purchased a new stake in Grayscale Bitcoin Trust during the first quarter worth about $28,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth about $32,000.

Grayscale Bitcoin Trust 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.