Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Sold by Susquehanna International Group LLP

Susquehanna International Group LLP cut its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 42.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,012,487 shares of the company’s stock after selling 7,258,839 shares during the quarter. Grayscale Bitcoin Trust makes up approximately 0.1% of Susquehanna International Group LLP’s portfolio, making the stock its 23rd biggest holding. Susquehanna International Group LLP’s holdings in Grayscale Bitcoin Trust were worth $533,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Grayscale Bitcoin Trust in the 2nd quarter worth about $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Grayscale Bitcoin Trust during the first quarter worth about $27,000. Global Wealth Strategies & Associates purchased a new stake in shares of Grayscale Bitcoin Trust in the second quarter valued at about $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at approximately $28,000. Finally, Toth Financial Advisory Corp purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth approximately $28,000.

Grayscale Bitcoin Trust Price Performance

Shares of Grayscale Bitcoin Trust stock opened at $52.30 on Friday. Grayscale Bitcoin Trust has a 1 year low of $18.20 and a 1 year high of $65.61. The business has a 50 day moving average price of $49.39 and a 200 day moving average price of $55.09. The company has a market capitalization of $26.71 billion, a P/E ratio of 2.29 and a beta of 1.25.

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.