Hollencrest Capital Management Raises Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Hollencrest Capital Management grew its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 88.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 850 shares of the company’s stock after buying an additional 400 shares during the quarter. Hollencrest Capital Management’s holdings in Grayscale Bitcoin Trust were worth $45,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GBTC. Jane Street Group LLC acquired a new position in Grayscale Bitcoin Trust during the 1st quarter worth approximately $117,350,000. Farallon Capital Management LLC purchased a new position in Grayscale Bitcoin Trust in the first quarter valued at $85,221,000. Sloy Dahl & Holst LLC acquired a new stake in Grayscale Bitcoin Trust in the first quarter valued at $32,959,000. Bracebridge Capital LLC purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter worth about $26,526,000. Finally, Mad River Investors acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth about $25,251,000.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA GBTC opened at $50.03 on Friday. The stock’s 50-day simple moving average is $49.88 and its 200-day simple moving average is $55.32. The firm has a market capitalization of $25.55 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a fifty-two week low of $18.04 and a fifty-two week high of $65.61.

About Grayscale Bitcoin Trust

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.