SteelPeak Wealth LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

SteelPeak Wealth LLC purchased a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,543 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds have also modified their holdings of the business. Global Assets Advisory LLC acquired a new stake in Grayscale Bitcoin Trust in the first quarter valued at $22,079,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Grayscale Bitcoin Trust in the 1st quarter valued at about $12,210,000. Brookstone Capital Management acquired a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at about $8,435,000. Epiq Partners LLC purchased a new stake in Grayscale Bitcoin Trust during the first quarter worth about $3,743,000. Finally, Fiduciary Alliance LLC acquired a new position in Grayscale Bitcoin Trust during the first quarter worth about $3,313,000.

Grayscale Bitcoin Trust Trading Down 2.3 %

GBTC stock opened at $53.24 on Monday. The firm has a 50 day moving average of $58.01 and a 200-day moving average of $51.51. The company has a market cap of $27.19 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12-month low of $17.00 and a 12-month 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.