Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Shares Gap Up – Here’s Why

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $52.15, but opened at $54.06. Grayscale Bitcoin Trust ETF shares last traded at $53.88, with a volume of 573,102 shares.

Grayscale Bitcoin Trust ETF Trading Up 4.4%

The business’s 50-day simple moving average is $55.31 and its two-hundred day simple moving average is $70.00. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40.

Institutional Trading of Grayscale Bitcoin Trust ETF

A number of institutional investors have recently bought and sold shares of GBTC. Kingswood Wealth Advisors LLC raised its position in shares of Grayscale Bitcoin Trust ETF by 1.0% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 284,948 shares of the company’s stock worth $25,580,000 after acquiring an additional 2,693 shares in the last quarter. DRW Securities LLC grew its stake in Grayscale Bitcoin Trust ETF by 1,210.6% during the fourth quarter. DRW Securities LLC now owns 232,691 shares of the company’s stock worth $15,907,000 after purchasing an additional 214,937 shares during the period. Focus Partners Wealth grew its stake in Grayscale Bitcoin Trust ETF by 10.5% during the fourth quarter. Focus Partners Wealth now owns 221,130 shares of the company’s stock worth $15,116,000 after purchasing an additional 20,951 shares during the period. Cetera Investment Advisers increased its holdings in Grayscale Bitcoin Trust ETF by 250.6% in the fourth quarter. Cetera Investment Advisers now owns 184,976 shares of the company’s stock worth $12,645,000 after purchasing an additional 132,219 shares in the last quarter. Finally, Mariner LLC increased its holdings in Grayscale Bitcoin Trust ETF by 1.2% in the fourth quarter. Mariner LLC now owns 173,207 shares of the company’s stock worth $11,840,000 after purchasing an additional 2,088 shares in the last quarter.

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.