Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Up – Time to Buy?

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $72.17, but opened at $74.82. Grayscale Bitcoin Trust shares last traded at $74.82, with a volume of 151,012 shares trading hands.

Grayscale Bitcoin Trust Trading Up 6.4 %

The stock has a market capitalization of $39.23 billion, a P/E ratio of 2.29 and a beta of 1.25. The stock’s 50-day moving average price is $58.77 and its two-hundred day moving average price is $55.36.

Institutional Trading of Grayscale Bitcoin Trust

A number of large investors have recently bought and sold shares of the company. Quent Capital LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $460,000. Comerica Bank bought a new position in Grayscale Bitcoin Trust during the first quarter worth about $361,000. Cetera Investment Advisers purchased a new position in shares of Grayscale Bitcoin Trust in the first quarter worth about $22,576,000. Cetera Advisors LLC bought a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $11,555,000. Finally, Soltis Investment Advisors LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at approximately $1,384,000.

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.