Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sets New 12-Month Low – Time to Sell?

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 trading hands. The stock had previously closed at $28.10.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The business has a fifty day moving average of $32.87 and a 200 day moving average of $34.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Grayscale Bitcoin Mini Trust ETF by 29.4% in the first quarter. NewEdge Advisors LLC now owns 9,161 shares of the company’s stock worth $275,000 after buying an additional 2,082 shares during the period. Western Wealth Management LLC bought a new stake in Grayscale Bitcoin Mini Trust ETF during the 1st quarter valued at approximately $46,000. Bank of America Corp DE raised its stake in Grayscale Bitcoin Mini Trust ETF by 123.9% during the 1st quarter. Bank of America Corp DE now owns 110,931 shares of the company’s stock valued at $3,327,000 after purchasing an additional 61,382 shares during the period. Centaurus Financial Inc. raised its stake in Grayscale Bitcoin Mini Trust ETF by 15.4% during the 1st quarter. Centaurus Financial Inc. now owns 33,203 shares of the company’s stock valued at $996,000 after purchasing an additional 4,427 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in Grayscale Bitcoin Mini Trust ETF by 52.1% during the 1st quarter. Sunbelt Securities Inc. now owns 7,586 shares of the company’s stock valued at $228,000 after purchasing an additional 2,600 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

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.