Grayscale Bitcoin Trust (NYSEARCA:GBTC) Sees Large Volume Increase – Here’s Why

Grayscale Bitcoin Trust (NYSEARCA:GBTC) shares saw unusually-high trading volume on Thursday . Approximately 2,616,566 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 2,956,415 shares.The stock last traded at $83.11 and had previously closed at $82.70.

Grayscale Bitcoin Trust Stock Up 1.6 %

The business has a 50 day simple moving average of $77.79 and a 200-day simple moving average of $61.09. The company has a market capitalization of $42.48 billion, a P/E ratio of 2.29 and a beta of 1.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Financial Life Planners bought a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $61,000. Alterna Wealth Management Inc. bought a new stake in Grayscale Bitcoin Trust during the fourth quarter worth approximately $255,000. Valley National Advisers Inc. grew its position in Grayscale Bitcoin Trust by 154.1% in the fourth quarter. Valley National Advisers Inc. now owns 1,456 shares of the company’s stock worth $107,000 after buying an additional 883 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter valued at $692,000. Finally, MA Private Wealth acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at $284,000.

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.