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

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $29.65, but opened at $30.74. Grayscale Bitcoin Mini Trust ETF shares last traded at $30.64, with a volume of 548,762 shares traded.

Grayscale Bitcoin Mini Trust ETF Price Performance

The business’s 50-day moving average is $31.40 and its two-hundred day moving average is $39.63.

Hedge Funds Weigh In On Grayscale Bitcoin Mini Trust ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Grayscale Bitcoin Mini Trust ETF by 287.2% in the 1st quarter. NewEdge Advisors LLC now owns 9,952 shares of the company’s stock valued at $363,000 after buying an additional 7,382 shares in the last quarter. Cetera Investment Advisers grew its stake in Grayscale Bitcoin Mini Trust ETF by 130.8% in the second quarter. Cetera Investment Advisers now owns 14,338 shares of the company’s stock valued at $685,000 after acquiring an additional 8,127 shares during the period. Franklin Resources Inc. grew its stake in Grayscale Bitcoin Mini Trust ETF by 45.5% in the second quarter. Franklin Resources Inc. now owns 18,087 shares of the company’s stock valued at $864,000 after acquiring an additional 5,658 shares during the period. Beacon Pointe Advisors LLC increased its holdings in shares of Grayscale Bitcoin Mini Trust ETF by 70.3% in the second quarter. Beacon Pointe Advisors LLC now owns 22,073 shares of the company’s stock worth $1,054,000 after acquiring an additional 9,108 shares in the last quarter. Finally, CW Advisors LLC lifted its holdings in shares of Grayscale Bitcoin Mini Trust ETF by 4.1% during the 2nd quarter. CW Advisors LLC now owns 7,315 shares of the company’s stock valued at $349,000 after purchasing an additional 286 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

About Grayscale Bitcoin Mini Trust ETF

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.