Mutual Advisors LLC Cuts Stock Position in Grayscale Bitcoin Trust ETF $GBTC

Mutual Advisors LLC lessened its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,200 shares of the company’s stock after selling 126 shares during the quarter. Mutual Advisors LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BCS Wealth Management increased its holdings in Grayscale Bitcoin Trust ETF by 1.2% in the 2nd quarter. BCS Wealth Management now owns 9,151 shares of the company’s stock worth $776,000 after acquiring an additional 110 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in Grayscale Bitcoin Trust ETF by 1.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 7,871 shares of the company’s stock worth $668,000 after purchasing an additional 118 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in Grayscale Bitcoin Trust ETF by 3.5% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 4,393 shares of the company’s stock worth $373,000 after purchasing an additional 150 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Grayscale Bitcoin Trust ETF by 1.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 13,446 shares of the company’s stock worth $1,141,000 after purchasing an additional 155 shares during the last quarter. Finally, Bulltick Wealth Management LLC boosted its stake in Grayscale Bitcoin Trust ETF by 2.4% during the 1st quarter. Bulltick Wealth Management LLC now owns 7,659 shares of the company’s stock worth $499,000 after purchasing an additional 178 shares during the last quarter.

Grayscale Bitcoin Trust ETF Stock Down 1.6%

Shares of GBTC opened at $83.46 on Monday. Grayscale Bitcoin Trust ETF has a 52-week low of $51.83 and a 52-week high of $99.12. The firm’s fifty day moving average is $90.01 and its two-hundred day moving average is $84.66. The stock has a market cap of $20.09 billion, a PE ratio of 2.23 and a beta of 2.47.

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.