Grimes & Company Inc. Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Grimes & Company Inc. acquired a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,722 shares of the company’s stock, valued at approximately $2,004,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp acquired a new position in Grayscale Bitcoin Trust in the first quarter worth $28,000. Harbor Investment Advisory LLC bought a new position in shares of Grayscale Bitcoin Trust during the first quarter worth about $34,000. PFS Partners LLC bought a new position in shares of Grayscale Bitcoin Trust during the first quarter worth about $50,000. Future Financial Wealth Managment LLC bought a new position in shares of Grayscale Bitcoin Trust during the first quarter worth about $63,000. Finally, Roble Belko & Company Inc bought a new position in shares of Grayscale Bitcoin Trust during the first quarter worth about $65,000.

Grayscale Bitcoin Trust Stock Performance

Grayscale Bitcoin Trust stock opened at $53.24 on Friday. The company has a 50-day simple moving average of $58.01 and a 200-day simple moving average of $51.41. The firm has a market capitalization of $27.19 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a one year low of $17.00 and a one year high of $65.61.

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.