Wealthfront Advisers LLC Sells 13,569 Shares of Grayscale Bitcoin Trust ETF $GBTC

Wealthfront Advisers LLC lessened its position in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 3.8% in the first quarter, Holdings Channel.com reports. The firm owned 341,133 shares of the company’s stock after selling 13,569 shares during the quarter. Wealthfront Advisers LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $17,998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Garton & Associates Financial Advisors LLC bought a new position in Grayscale Bitcoin Trust ETF in the fourth quarter valued at about $27,000. Holos Integrated Wealth LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth about $28,000. CoreCap Advisors LLC grew its holdings in shares of Grayscale Bitcoin Trust ETF by 160.9% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the fourth quarter valued at approximately $30,000. Finally, RHL Group LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the fourth quarter valued at approximately $43,000.

Grayscale Bitcoin Trust ETF Price Performance

Shares of NYSEARCA GBTC opened at $49.78 on Friday. The company has a 50 day simple moving average of $52.55 and a 200 day simple moving average of $57.14. The firm has a market cap of $9.66 billion, a PE ratio of 2.23 and a beta of 2.19. Grayscale Bitcoin Trust ETF has a 1 year low of $44.98 and a 1 year high of $99.12.

Grayscale Bitcoin Trust ETF 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.