Adalta Capital Management LLC Invests $253,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Adalta Capital Management LLC bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, HoldingsChannel reports. The fund bought 3,420 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GBTC. Park Avenue Securities LLC boosted its position in shares of Grayscale Bitcoin Trust by 16.8% in the fourth quarter. Park Avenue Securities LLC now owns 8,378 shares of the company’s stock worth $620,000 after purchasing an additional 1,203 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at $245,000. UMB Bank n.a. lifted its stake in shares of Grayscale Bitcoin Trust by 104.3% during the 4th quarter. UMB Bank n.a. now owns 4,777 shares of the company’s stock valued at $354,000 after buying an additional 2,439 shares in the last quarter. Zhang Financial LLC bought a new position in Grayscale Bitcoin Trust in the 4th quarter worth $283,000. Finally, TB Alternative Assets Ltd. bought a new position in Grayscale Bitcoin Trust in the 4th quarter worth $2,061,000.

Grayscale Bitcoin Trust Stock Up 1.5%

NYSEARCA:GBTC opened at $84.49 on Wednesday. The business’s 50-day simple moving average is $71.09 and its two-hundred day simple moving average is $73.58. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11. The stock has a market cap of $20.39 billion, a PE ratio of 2.23 and a beta of 2.51.

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.