Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Reaches New 1-Year Low – Here’s What Happened

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) shares reached a new 52-week low on Wednesday . The company traded as low as $26.10 and last traded at $26.31, with a volume of 3496203 shares. The stock had previously closed at $27.56.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The business’s 50-day simple moving average is $32.22 and its two-hundred day simple moving average is $33.91.

Institutional Investors Weigh In On Grayscale Bitcoin Mini Trust ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its holdings in Grayscale Bitcoin Mini Trust ETF by 29.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,161 shares of the company’s stock valued at $275,000 after acquiring an additional 2,082 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Mini Trust ETF during the first quarter worth about $46,000. Bank of America Corp DE lifted its stake in shares of Grayscale Bitcoin Mini Trust ETF by 123.9% in the 1st quarter. Bank of America Corp DE now owns 110,931 shares of the company’s stock worth $3,327,000 after acquiring an additional 61,382 shares during the period. Centaurus Financial Inc. lifted its position in Grayscale Bitcoin Mini Trust ETF by 15.4% in the first quarter. Centaurus Financial Inc. now owns 33,203 shares of the company’s stock worth $996,000 after purchasing an additional 4,427 shares during the period. Finally, Sunbelt Securities Inc. boosted its position in shares of Grayscale Bitcoin Mini Trust ETF by 52.1% in the 1st quarter. Sunbelt Securities Inc. now owns 7,586 shares of the company’s stock valued at $228,000 after purchasing an additional 2,600 shares during the period. 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.