Deltec Asset Management LLC Makes New $894,000 Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Deltec Asset Management LLC acquired a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,150 shares of the company’s stock, valued at approximately $894,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GBTC. Global Assets Advisory LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at $22,079,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth $12,210,000. Brookstone Capital Management purchased a new stake in Grayscale Bitcoin Trust during the first quarter valued at about $8,435,000. Epiq Partners LLC purchased a new stake in Grayscale Bitcoin Trust during the first quarter valued at about $3,743,000. Finally, Fiduciary Alliance LLC acquired a new stake in Grayscale Bitcoin Trust during the first quarter worth about $3,313,000.

Grayscale Bitcoin Trust Stock Down 2.3 %

Shares of GBTC stock traded down $1.28 during mid-day trading on Friday, reaching $53.24. The company’s stock had a trading volume of 3,860,291 shares, compared to its average volume of 12,870,373. The firm has a market capitalization of $27.19 billion, a PE ratio of 2.29 and a beta of 1.25. The company’s 50 day simple moving average is $58.01 and its 200-day simple moving average is $51.41. Grayscale Bitcoin Trust has a 12-month low of $17.00 and a 12-month high of $65.61.

About Grayscale Bitcoin Trust

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.