Watts Gwilliam & Co. LLC Takes $2.07 Million Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Watts Gwilliam & Co. LLC acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the third quarter, Holdings Channel.com reports. The firm acquired 41,767 shares of the company’s stock, valued at approximately $2,068,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GBTC. Able Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the 4th quarter valued at $194,000. Garde Capital Inc. acquired a new stake in Grayscale Bitcoin Trust during the 4th quarter worth $602,000. Enterprise Bank & Trust Co acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter worth $243,000. BCS Wealth Management acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter worth $581,000. Finally, Park Avenue Securities LLC acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter worth $463,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC opened at $47.47 on Friday. The company’s fifty day moving average price is $47.89 and its 200 day moving average price is $54.30. Grayscale Bitcoin Trust has a 12 month low of $19.82 and a 12 month high of $65.61. The firm has a market capitalization of $24.24 billion, a P/E ratio of 2.29 and a beta of 1.25.

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.