Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Shares Gap Down – Here’s Why

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC)’s share price gapped down prior to trading on Monday . The stock had previously closed at $65.37, but opened at $60.89. Grayscale Bitcoin Trust ETF shares last traded at $61.33, with a volume of 3,719,569 shares changing hands.

Grayscale Bitcoin Trust ETF Stock Down 4.0%

The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. The firm has a 50 day moving average price of $69.51 and a two-hundred day moving average price of $80.94.

Hedge Funds Weigh In On Grayscale Bitcoin Trust ETF

Several large investors have recently made changes to their positions in the business. Holos Integrated Wealth LLC purchased a new stake in Grayscale Bitcoin Trust ETF in the 4th quarter worth approximately $28,000. Root Financial Partners LLC bought a new stake in Grayscale Bitcoin Trust ETF during the 3rd quarter valued at approximately $29,000. CoreCap Advisors LLC grew its stake in shares of Grayscale Bitcoin Trust ETF by 160.9% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF during the second quarter valued at about $33,000. Finally, Strengthening Families & Communities LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the 3rd quarter worth approximately $33,000.

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.