Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Up to $52.61

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $52.61, but opened at $54.41. Grayscale Bitcoin Trust shares last traded at $54.40, with a volume of 396,198 shares changing hands.

Grayscale Bitcoin Trust Price Performance

The company has a market capitalization of $27.64 billion, a PE ratio of 2.29 and a beta of 1.25. The firm has a 50-day moving average of $58.14 and a 200 day moving average of $51.27.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

Several institutional investors have recently modified their holdings of GBTC. Jane Street Group LLC purchased a new stake in shares of Grayscale Bitcoin Trust during the first quarter valued at $117,350,000. Farallon Capital Management LLC bought a new position in Grayscale Bitcoin Trust in the first quarter valued at about $85,221,000. Sloy Dahl & Holst LLC bought a new position in Grayscale Bitcoin Trust in the first quarter valued at about $32,959,000. Bracebridge Capital LLC bought a new position in Grayscale Bitcoin Trust in the first quarter valued at about $26,526,000. Finally, Mad River Investors bought a new position in Grayscale Bitcoin Trust in the first quarter valued at about $25,251,000.

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.