Fmr LLC Cuts Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Fmr LLC decreased its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 63.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,498 shares of the company’s stock after selling 4,305 shares during the period. Fmr LLC’s holdings in Grayscale Bitcoin Trust were worth $126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Greenwich Wealth Management LLC lifted its stake in shares of Grayscale Bitcoin Trust by 99.9% in the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after purchasing an additional 538,256 shares during the period. Magnolia Capital Advisors LLC purchased a new position in Grayscale Bitcoin Trust during the second quarter valued at $14,810,000. International Assets Investment Management LLC lifted its position in shares of Grayscale Bitcoin Trust by 4,950.0% during the 3rd quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after buying an additional 189,585 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Grayscale Bitcoin Trust by 4,689.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 184,686 shares of the company’s stock worth $98,000 after acquiring an additional 180,830 shares in the last quarter. Finally, Atlas Wealth Partners LLC purchased a new position in Grayscale Bitcoin Trust during the third quarter valued at approximately $7,774,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA GBTC opened at $76.47 on Monday. Grayscale Bitcoin Trust has a 1 year low of $33.95 and a 1 year high of $86.11. The firm has a fifty day moving average price of $68.06 and a 200-day moving average price of $57.38. The stock has a market cap of $39.05 billion, a PE ratio of 2.29 and a beta of 1.25.

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.