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

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTCGet Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $59.53 and last traded at $59.1660, with a volume of 4880136 shares traded. The stock had previously closed at $60.82.

Grayscale Bitcoin Trust ETF Stock Down 2.0%

The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. The business has a 50-day moving average of $69.95 and a two-hundred day moving average of $81.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GBTC. NewEdge Wealth LLC lifted its position in Grayscale Bitcoin Trust ETF by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 60,855 shares of the company’s stock worth $4,160,000 after purchasing an additional 284 shares during the period. MGO One Seven LLC lifted its holdings in shares of Grayscale Bitcoin Trust ETF by 12.6% during the 4th quarter. MGO One Seven LLC now owns 39,296 shares of the company’s stock worth $2,686,000 after acquiring an additional 4,384 shares during the period. Garner Asset Management Corp acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the 4th quarter valued at about $123,000. Headinvest LLC bought a new stake in Grayscale Bitcoin Trust ETF in the fourth quarter valued at about $1,709,000. Finally, Truist Financial Corp raised its position in Grayscale Bitcoin Trust ETF by 7.2% in the fourth quarter. Truist Financial Corp now owns 30,737 shares of the company’s stock worth $2,101,000 after purchasing an additional 2,061 shares in the last quarter.

About Grayscale Bitcoin Trust ETF

(Get Free Report)

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.

Further Reading

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