Merit Financial Group LLC Increases Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Merit Financial Group LLC increased its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 74.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,738 shares of the company’s stock after acquiring an additional 27,980 shares during the quarter. Merit Financial Group LLC’s holdings in Grayscale Bitcoin Trust were worth $4,866,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Bleakley Financial Group LLC grew its position in shares of Grayscale Bitcoin Trust by 2.3% in the third quarter. Bleakley Financial Group LLC now owns 60,389 shares of the company’s stock valued at $3,050,000 after purchasing an additional 1,349 shares during the period. ORG Wealth Partners LLC acquired a new stake in Grayscale Bitcoin Trust in the 3rd quarter worth about $46,000. Intellectus Partners LLC grew its holdings in Grayscale Bitcoin Trust by 4.1% in the 3rd quarter. Intellectus Partners LLC now owns 79,934 shares of the company’s stock valued at $4,037,000 after buying an additional 3,165 shares during the period. Sound Income Strategies LLC increased its stake in shares of Grayscale Bitcoin Trust by 6.3% during the 3rd quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock valued at $235,000 after acquiring an additional 276 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Grayscale Bitcoin Trust by 25.6% during the 3rd quarter. Cerity Partners LLC now owns 44,913 shares of the company’s stock worth $2,268,000 after acquiring an additional 9,152 shares during the period.

Grayscale Bitcoin Trust Stock Performance

Grayscale Bitcoin Trust stock opened at $83.05 on Friday. Grayscale Bitcoin Trust has a 1 year low of $34.31 and a 1 year high of $86.11. The firm has a 50 day moving average price of $76.57 and a 200 day moving average price of $60.07. The company has a market cap of $42.41 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

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.