Blue Trust Inc. Invests $937,000 in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Blue Trust Inc. bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 14,830 shares of the company’s stock, valued at approximately $937,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GBTC. Dixon Mitchell Investment Counsel Inc. bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $27,000. Toth Financial Advisory Corp bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at $28,000. YHB Investment Advisors Inc. bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at $28,000. Ulland Investment Advisors LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at $32,000. Finally, Atticus Wealth Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $33,000.

Grayscale Bitcoin Trust Stock Performance

NYSEARCA:GBTC traded down $3.51 during trading hours on Friday, reaching $50.15. The company’s stock had a trading volume of 7,828,492 shares, compared to its average volume of 12,593,462. The firm has a market capitalization of $25.61 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The firm has a 50-day simple moving average of $57.59 and a 200-day simple moving average of $51.91. Grayscale Bitcoin Trust has a 1 year low of $17.00 and a 1 year 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.