Variant Private Wealth LLC Invests $7.11 Million in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Variant Private Wealth LLC acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, HoldingsChannel reports. The fund acquired 96,101 shares of the company’s stock, valued at approximately $7,113,000. Grayscale Bitcoin Trust makes up about 6.8% of Variant Private Wealth LLC’s investment portfolio, making the stock its 2nd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Greenwich Wealth Management LLC increased its holdings in Grayscale Bitcoin Trust by 99.9% in the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock valued at $54,379,000 after purchasing an additional 538,256 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Grayscale Bitcoin Trust in the 4th quarter valued at $19,360,000. International Assets Investment Management LLC increased its holdings in Grayscale Bitcoin Trust by 4,950.0% in the 3rd quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after purchasing an additional 189,585 shares in the last quarter. Citrine Capital LLC acquired a new stake in Grayscale Bitcoin Trust in the 4th quarter valued at $7,721,000. Finally, Larson Financial Group LLC increased its holdings in Grayscale Bitcoin Trust by 204.3% in the 3rd quarter. Larson Financial Group LLC now owns 102,433 shares of the company’s stock valued at $5,173,000 after purchasing an additional 68,768 shares in the last quarter.

Grayscale Bitcoin Trust Trading Down 3.8 %

Shares of NYSEARCA GBTC opened at $75.06 on Friday. Grayscale Bitcoin Trust has a 12-month low of $39.56 and a 12-month high of $86.11. The company has a market cap of $18.97 billion, a P/E ratio of 2.23 and a beta of 2.51. The stock has a fifty day moving average price of $78.25 and a 200 day moving average price of $64.09.

Grayscale Bitcoin Trust 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.