Firestone Capital Management Has $518,000 Holdings in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC)

Firestone Capital Management cut its stake in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 13.9% in the first quarter, Holdings Channel reports. The firm owned 7,945 shares of the company’s stock after selling 1,285 shares during the quarter. Firestone Capital Management’s holdings in Grayscale Bitcoin Trust ETF were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GBTC. Pacific Center for Financial Services acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the 4th quarter valued at approximately $31,000. First Horizon Advisors Inc. grew its holdings in shares of Grayscale Bitcoin Trust ETF by 90.9% in the 1st quarter. First Horizon Advisors Inc. now owns 420 shares of the company’s stock valued at $27,000 after buying an additional 200 shares during the period. Measured Risk Portfolios Inc. acquired a new position in shares of Grayscale Bitcoin Trust ETF in the 4th quarter valued at $32,000. Capital A Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth about $35,000. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth about $53,000.

Grayscale Bitcoin Trust ETF Price Performance

NYSEARCA GBTC opened at $93.04 on Monday. The firm has a market cap of $21.72 billion, a P/E ratio of 2.23 and a beta of 2.47. Grayscale Bitcoin Trust ETF has a one year low of $39.56 and a one year high of $96.74. The stock’s 50-day moving average is $83.58 and its 200-day moving average is $76.35.

About Grayscale Bitcoin Trust ETF

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.