Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Down to $54.89

Grayscale Bitcoin Trust (NYSEARCA:GBTC) gapped down before the market opened on Wednesday . The stock had previously closed at $54.89, but opened at $53.50. Grayscale Bitcoin Trust shares last traded at $53.72, with a volume of 341,719 shares trading hands.

Grayscale Bitcoin Trust Stock Performance

The stock has a 50 day simple moving average of $57.72 and a two-hundred day simple moving average of $51.92. The firm has a market cap of $27.40 billion, a PE ratio of 2.29 and a beta of 1.25.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

A number of institutional investors have recently modified their holdings of GBTC. Winch Advisory Services LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $66,000. Next Capital Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $670,000. Equitable Trust Co. acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $203,000. Canton Hathaway LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $942,000. Finally, SVB Wealth LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter valued at about $770,000.

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.