Richards Merrill & Peterson Inc. Increases Stake in Grayscale Bitcoin Trust ETF $GBTC

Richards Merrill & Peterson Inc. lifted its holdings in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 45.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,104 shares of the company’s stock after buying an additional 2,525 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $687,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Grayscale Bitcoin Trust ETF by 90.9% in the first quarter. First Horizon Advisors Inc. now owns 420 shares of the company’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Hurley Capital LLC purchased a new stake in Grayscale Bitcoin Trust ETF in the first quarter worth about $34,000. Flaharty Asset Management LLC bought a new position in Grayscale Bitcoin Trust ETF during the 1st quarter worth about $39,000. Cornerstone Planning Group LLC increased its position in Grayscale Bitcoin Trust ETF by 600.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 875 shares of the company’s stock valued at $57,000 after purchasing an additional 750 shares during the period. Finally, Headlands Technologies LLC increased its position in Grayscale Bitcoin Trust ETF by 227.0% during the 1st quarter. Headlands Technologies LLC now owns 1,128 shares of the company’s stock valued at $74,000 after purchasing an additional 783 shares during the period.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of GBTC opened at $86.69 on Friday. The company has a 50 day moving average price of $89.28 and a 200-day moving average price of $85.17. Grayscale Bitcoin Trust ETF has a fifty-two week low of $52.37 and a fifty-two week high of $99.12. The stock has a market capitalization of $20.87 billion, a PE ratio of 2.23 and a beta of 2.47.

About Grayscale Bitcoin Trust ETF

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.