Ridgepath Capital Management LLC Invests $2.65 Million in Grayscale Bitcoin Trust ETF $GBTC

Ridgepath Capital Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 50,324 shares of the company’s stock, valued at approximately $2,655,000. Grayscale Bitcoin Trust ETF comprises approximately 1.3% of Ridgepath Capital Management LLC’s portfolio, making the stock its 19th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at $218,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Grayscale Bitcoin Trust ETF by 63.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,156 shares of the company’s stock worth $183,000 after purchasing an additional 838 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Grayscale Bitcoin Trust ETF by 431.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,010 shares of the company’s stock valued at $86,000 after buying an additional 820 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Grayscale Bitcoin Trust ETF by 7.6% in the second quarter. NewEdge Advisors LLC now owns 53,577 shares of the company’s stock valued at $4,545,000 after buying an additional 3,795 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Grayscale Bitcoin Trust ETF by 400.6% in the second quarter. Ieq Capital LLC now owns 113,310 shares of the company’s stock valued at $9,612,000 after buying an additional 90,675 shares during the last quarter.

Grayscale Bitcoin Trust ETF Stock Up 1.5%

Shares of NYSEARCA GBTC opened at $50.45 on Tuesday. The firm’s 50-day simple moving average is $52.03 and its 200 day simple moving average is $56.89. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 2.23 and a beta of 2.19. Grayscale Bitcoin Trust ETF has a 12-month low of $44.98 and a 12-month high of $99.12.

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.