Howe & Rusling Inc. Reduces Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Howe & Rusling Inc. reduced its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 94.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,873 shares of the company’s stock after selling 76,678 shares during the period. Howe & Rusling Inc.’s holdings in Grayscale Bitcoin Trust were worth $246,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GBTC. Jane Street Group LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $117,350,000. Farallon Capital Management LLC purchased a new position in Grayscale Bitcoin Trust during the first quarter valued at approximately $85,221,000. Greenwich Wealth Management LLC boosted its position in shares of Grayscale Bitcoin Trust by 99.9% in the third quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after purchasing an additional 538,256 shares during the period. LPL Financial LLC increased its stake in shares of Grayscale Bitcoin Trust by 7.1% in the second quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock worth $54,887,000 after purchasing an additional 68,698 shares in the last quarter. Finally, Mad River Investors raised its position in shares of Grayscale Bitcoin Trust by 26.7% during the 3rd quarter. Mad River Investors now owns 389,745 shares of the company’s stock valued at $19,682,000 after purchasing an additional 82,187 shares during the period.

Grayscale Bitcoin Trust Stock Performance

Shares of Grayscale Bitcoin Trust stock opened at $74.99 on Thursday. Grayscale Bitcoin Trust has a fifty-two week low of $29.09 and a fifty-two week high of $75.55. The company has a market capitalization of $38.30 billion, a P/E ratio of 2.29 and a beta of 1.25. The company has a fifty day moving average of $54.76 and a 200 day moving average of $54.34.

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.