Narus Financial Partners LLC Purchases New Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Narus Financial Partners LLC purchased a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,199 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors bought a new stake in Grayscale Bitcoin Trust in the first quarter worth about $95,000. Opal Wealth Advisors LLC bought a new stake in Grayscale Bitcoin Trust in the first quarter worth about $262,000. Brookstone Capital Management bought a new stake in Grayscale Bitcoin Trust in the first quarter worth about $8,435,000. Grimes & Company Inc. bought a new stake in Grayscale Bitcoin Trust in the first quarter worth about $2,004,000. Finally, AdvisorNet Financial Inc bought a new stake in Grayscale Bitcoin Trust in the first quarter worth about $261,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA GBTC opened at $54.89 on Wednesday. The company has a market cap of $28.03 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1 year low of $17.00 and a 1 year high of $65.61. The firm has a 50-day simple moving average of $57.86 and a two-hundred day simple moving average of $51.73.

Grayscale Bitcoin Trust 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.