Summit X LLC Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Summit X LLC bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,220 shares of the company’s stock, valued at approximately $238,000.

Other institutional investors have also modified their holdings of the company. Wealth Quarterback LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 4th quarter valued at $215,000. RFG Advisory LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth $262,000. Arkadios Wealth Advisors acquired a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter worth $245,000. Mutual Advisors LLC lifted its stake in shares of Grayscale Bitcoin Trust by 2.0% in the 4th quarter. Mutual Advisors LLC now owns 7,326 shares of the company’s stock worth $583,000 after acquiring an additional 146 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of Grayscale Bitcoin Trust by 225.5% in the 4th quarter. Avior Wealth Management LLC now owns 1,621 shares of the company’s stock worth $120,000 after acquiring an additional 1,123 shares during the period.

Grayscale Bitcoin Trust Stock Performance

GBTC stock opened at $65.57 on Thursday. Grayscale Bitcoin Trust has a one year low of $39.56 and a one year high of $86.11. The stock has a market capitalization of $16.22 billion, a PE ratio of 2.23 and a beta of 2.59. The company has a fifty day moving average of $75.72 and a 200-day moving average of $66.31.

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.