Short Interest in Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Drops By 36.6%

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 457,857 shares, a drop of 36.6% from the August 15th total of 722,534 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 2,644,117 shares, the days-to-cover ratio is presently 0.2 days.

Grayscale Bitcoin Mini Trust ETF Stock Performance

BTC stock traded up $0.21 during midday trading on Thursday, hitting $33.82. 1,291,587 shares of the company’s stock were exchanged, compared to its average volume of 2,937,543. Grayscale Bitcoin Mini Trust ETF has a one year low of $25.65 and a one year high of $55.96. The stock’s fifty day moving average price is $30.87 and its 200-day moving average price is $31.05.

Hedge Funds Weigh In On Grayscale Bitcoin Mini Trust ETF

Several institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its stake in Grayscale Bitcoin Mini Trust ETF by 10.4% during the 2nd quarter. Tidal Investments LLC now owns 1,093,783 shares of the company’s stock worth $28,384,000 after purchasing an additional 102,673 shares in the last quarter. NewEdge Wealth LLC lifted its stake in Grayscale Bitcoin Mini Trust ETF by 3,052.8% in the first quarter. NewEdge Wealth LLC now owns 383,564 shares of the company’s stock valued at $11,503,000 after buying an additional 371,398 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Grayscale Bitcoin Mini Trust ETF by 9.3% during the fourth quarter. HighTower Advisors LLC now owns 347,474 shares of the company’s stock worth $13,458,000 after acquiring an additional 29,666 shares in the last quarter. Pasadena Private Wealth LLC boosted its stake in Grayscale Bitcoin Mini Trust ETF by 40.4% in the 4th quarter. Pasadena Private Wealth LLC now owns 310,465 shares of the company’s stock worth $12,024,000 after purchasing an additional 89,354 shares during the period. Finally, EagleClaw Capital Managment LLC grew its holdings in shares of Grayscale Bitcoin Mini Trust ETF by 1.4% during the fourth quarter. EagleClaw Capital Managment LLC now owns 301,190 shares of the company’s stock worth $11,665,000 after buying an additional 4,080 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Grayscale Bitcoin Mini Trust ETF Company Profile

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.