HFG Wealth Management LLC Trims Stake in Grayscale Bitcoin Trust ETF $GBTC

HFG Wealth Management LLC lowered its holdings in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,965 shares of the company’s stock after selling 426 shares during the quarter. Grayscale Bitcoin Trust ETF accounts for 2.4% of HFG Wealth Management LLC’s holdings, making the stock its 15th largest holding. HFG Wealth Management LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $4,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Palacios Wealth Management LLC purchased a new stake in Grayscale Bitcoin Trust ETF in the first quarter valued at $65,170,000. DRW Securities LLC raised its position in Grayscale Bitcoin Trust ETF by 849.0% in the first quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock valued at $24,151,000 after purchasing an additional 331,538 shares during the period. Cresset Asset Management LLC raised its position in Grayscale Bitcoin Trust ETF by 27.0% in the first quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock valued at $19,549,000 after purchasing an additional 63,749 shares during the period. TB Alternative Assets Ltd. raised its position in Grayscale Bitcoin Trust ETF by 942.4% in the first quarter. TB Alternative Assets Ltd. now owns 290,203 shares of the company’s stock valued at $18,913,000 after purchasing an additional 262,362 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its position in Grayscale Bitcoin Trust ETF by 0.7% in the first quarter. Kingswood Wealth Advisors LLC now owns 287,024 shares of the company’s stock valued at $18,707,000 after purchasing an additional 1,957 shares during the period.

Grayscale Bitcoin Trust ETF Stock Down 1.4%

NYSEARCA:GBTC opened at $90.49 on Tuesday. Grayscale Bitcoin Trust ETF has a 52 week low of $45.79 and a 52 week high of $96.62. The company has a market capitalization of $21.79 billion, a P/E ratio of 2.23 and a beta of 2.47. The stock’s fifty day moving average is $90.47 and its two-hundred day moving average is $80.72.

Grayscale Bitcoin Trust ETF 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.