Grimes & Company Inc. Takes $2 Million Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Grimes & Company Inc. purchased a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,722 shares of the company’s stock, valued at approximately $2,004,000.

A number of other large investors have also made changes to their positions in the stock. Global Assets Advisory LLC acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $22,079,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $12,210,000. Brookstone Capital Management acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $8,435,000. Epiq Partners LLC acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $3,743,000. Finally, Financial Management Professionals Inc. acquired a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $2,270,000.

Grayscale Bitcoin Trust Trading Down 2.3 %

Shares of NYSEARCA GBTC opened at $53.24 on Friday. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 52 week low of $17.00 and a 52 week high of $65.61. The company’s 50-day moving average price is $58.01 and its 200 day moving average price is $51.41.

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.