Ritholtz Wealth Management Cuts Stock Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Ritholtz Wealth Management cut its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,279 shares of the company’s stock after selling 916 shares during the period. Ritholtz Wealth Management’s holdings in Grayscale Bitcoin Trust were worth $570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GBTC. Level Financial Advisors acquired a new position in shares of Grayscale Bitcoin Trust in the 3rd quarter valued at about $204,000. Valeo Financial Advisors LLC lifted its position in Grayscale Bitcoin Trust by 11.5% during the third quarter. Valeo Financial Advisors LLC now owns 11,378 shares of the company’s stock valued at $575,000 after buying an additional 1,171 shares in the last quarter. Guild Investment Management Inc. grew its stake in Grayscale Bitcoin Trust by 100.0% during the third quarter. Guild Investment Management Inc. now owns 135,190 shares of the company’s stock worth $6,827,000 after buying an additional 67,595 shares during the period. Trevian Wealth Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the third quarter worth $489,000. Finally, Watts Gwilliam & Co. LLC purchased a new position in shares of Grayscale Bitcoin Trust in the 3rd quarter valued at $2,068,000.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA GBTC opened at $53.33 on Wednesday. Grayscale Bitcoin Trust has a 1-year low of $21.34 and a 1-year high of $65.61. The company has a market capitalization of $27.24 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The business has a 50-day moving average of $48.25 and a 200-day moving average of $53.96.

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.