Independent Advisor Alliance Grows Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Independent Advisor Alliance raised its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 11.9% during the third quarter, HoldingsChannel reports. The firm owned 98,512 shares of the company’s stock after purchasing an additional 10,484 shares during the period. Independent Advisor Alliance’s holdings in Grayscale Bitcoin Trust were worth $4,975,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GBTC. Jane Street Group LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $117,350,000. Farallon Capital Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $85,221,000. Greenwich Wealth Management LLC lifted its stake in shares of Grayscale Bitcoin Trust by 99.9% during the third quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after buying an additional 538,256 shares during the period. LPL Financial LLC lifted its stake in shares of Grayscale Bitcoin Trust by 7.1% during the second quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock worth $54,887,000 after buying an additional 68,698 shares during the period. Finally, Mad River Investors lifted its stake in shares of Grayscale Bitcoin Trust by 26.7% during the third quarter. Mad River Investors now owns 389,745 shares of the company’s stock worth $19,682,000 after buying an additional 82,187 shares during the period.

Grayscale Bitcoin Trust Price Performance

NYSEARCA GBTC opened at $78.87 on Monday. The company has a market capitalization of $40.28 billion, a PE ratio of 2.29 and a beta of 1.25. The company has a fifty day moving average of $56.59 and a 200 day moving average of $54.79. Grayscale Bitcoin Trust has a 1 year low of $29.88 and a 1 year high of $79.34.

About Grayscale Bitcoin Trust

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.