Grayscale Bitcoin Trust ETF Target of Unusually Large Options Trading (NYSEARCA:GBTC)

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the target of some unusual options trading activity on Wednesday. Investors acquired 21,622 call options on the company. This represents an increase of 765% compared to the average daily volume of 2,501 call options.

Grayscale Bitcoin Trust ETF Price Performance

Shares of NYSEARCA:GBTC traded down $0.04 during trading on Wednesday, hitting $49.09. The company’s stock had a trading volume of 1,611,345 shares, compared to its average volume of 3,103,333. Grayscale Bitcoin Trust ETF has a 12 month low of $44.98 and a 12 month high of $99.12. The company has a 50-day moving average of $49.09 and a 200-day moving average of $54.41. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 2.23 and a beta of 2.17.

Institutional Trading of Grayscale Bitcoin Trust ETF

A number of hedge funds and other institutional investors have recently modified their holdings of GBTC. DRW Securities LLC lifted its stake in shares of Grayscale Bitcoin Trust ETF by 1,210.6% during the 4th quarter. DRW Securities LLC now owns 232,691 shares of the company’s stock valued at $15,907,000 after buying an additional 214,937 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Grayscale Bitcoin Trust ETF by 10.5% in the fourth quarter. Focus Partners Wealth now owns 221,130 shares of the company’s stock valued at $15,116,000 after purchasing an additional 20,951 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Grayscale Bitcoin Trust ETF by 250.6% in the 4th quarter. Cetera Investment Advisers now owns 184,976 shares of the company’s stock worth $12,645,000 after buying an additional 132,219 shares during the last quarter. Mariner LLC raised its position in Grayscale Bitcoin Trust ETF by 1.2% during the fourth quarter. Mariner LLC now owns 173,207 shares of the company’s stock valued at $11,840,000 after purchasing an additional 2,088 shares during the period. Finally, Lido Advisors LLC lifted its stake in shares of Grayscale Bitcoin Trust ETF by 3.6% in the 1st quarter. Lido Advisors LLC now owns 165,469 shares of the company’s stock valued at $8,730,000 after purchasing an additional 5,674 shares during the last quarter.

Grayscale Bitcoin Trust ETF Company 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.