Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sets New 12-Month Low – Time to Sell?

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $26.56 and last traded at $26.66, with a volume of 2085926 shares trading hands. The stock had previously closed at $28.10.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The firm has a 50 day simple moving average of $32.87 and a two-hundred day simple moving average of $34.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BTC. Flagship Harbor Advisors LLC purchased a new stake in Grayscale Bitcoin Mini Trust ETF in the fourth quarter worth approximately $27,000. Strategic Advocates LLC bought a new stake in Grayscale Bitcoin Mini Trust ETF in the third quarter valued at approximately $28,000. Cornerstone Planning Group LLC lifted its position in Grayscale Bitcoin Mini Trust ETF by 498.8% in the first quarter. Cornerstone Planning Group LLC now owns 958 shares of the company’s stock valued at $29,000 after purchasing an additional 798 shares during the last quarter. Abound Financial LLC bought a new stake in Grayscale Bitcoin Mini Trust ETF in the fourth quarter valued at approximately $34,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in Grayscale Bitcoin Mini Trust ETF in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Grayscale Bitcoin Mini Trust ETF Company Profile

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.