Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Up – What’s Next?

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $73.71, but opened at $76.79. Grayscale Bitcoin Trust shares last traded at $77.31, with a volume of 630,152 shares traded.

Grayscale Bitcoin Trust Stock Up 5.4 %

The stock’s 50-day moving average price is $68.48 and its 200 day moving average price is $57.46. The firm has a market cap of $39.67 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

A number of institutional investors have recently bought and sold shares of the business. Synovus Financial Corp lifted its position in shares of Grayscale Bitcoin Trust by 0.8% during the 3rd quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after buying an additional 169 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of Grayscale Bitcoin Trust by 233.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 22,630 shares of the company’s stock worth $1,143,000 after purchasing an additional 15,850 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Grayscale Bitcoin Trust by 16.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 38,588 shares of the company’s stock worth $1,949,000 after purchasing an additional 5,524 shares in the last quarter. Soltis Investment Advisors LLC lifted its holdings in Grayscale Bitcoin Trust by 7.5% during the 3rd quarter. Soltis Investment Advisors LLC now owns 19,820 shares of the company’s stock valued at $1,001,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Fortem Financial Group LLC raised its stake in shares of Grayscale Bitcoin Trust by 2.1% in the third quarter. Fortem Financial Group LLC now owns 24,750 shares of the company’s stock valued at $1,250,000 after acquiring an additional 500 shares during the last quarter.

Grayscale Bitcoin Trust 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.