AE Wealth Management LLC Has $1.79 Million Stock Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

AE Wealth Management LLC lifted its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 611.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,603 shares of the company’s stock after purchasing an additional 28,877 shares during the quarter. AE Wealth Management LLC’s holdings in Grayscale Bitcoin Trust were worth $1,789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GBTC. Simplify Asset Management Inc. boosted its holdings in shares of Grayscale Bitcoin Trust by 23.5% in the second quarter. Simplify Asset Management Inc. now owns 39,867 shares of the company’s stock worth $2,123,000 after buying an additional 7,578 shares during the period. Hollencrest Capital Management boosted its stake in Grayscale Bitcoin Trust by 88.9% in the 2nd quarter. Hollencrest Capital Management now owns 850 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the period. WCG Wealth Advisors LLC acquired a new position in Grayscale Bitcoin Trust in the 2nd quarter worth approximately $864,000. Virtu Financial LLC grew its position in Grayscale Bitcoin Trust by 158.8% during the 2nd quarter. Virtu Financial LLC now owns 137,123 shares of the company’s stock worth $7,300,000 after purchasing an additional 84,134 shares in the last quarter. Finally, One Capital Management LLC raised its stake in Grayscale Bitcoin Trust by 8.8% during the 2nd quarter. One Capital Management LLC now owns 21,202 shares of the company’s stock valued at $1,129,000 after purchasing an additional 1,710 shares during the period.

Grayscale Bitcoin Trust Trading Up 0.8 %

Shares of GBTC stock opened at $50.43 on Tuesday. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1-year low of $18.04 and a 1-year high of $65.61. The stock’s fifty day simple moving average is $49.76 and its 200-day simple moving average is $55.22.

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.