Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 180,068 shares of the company’s stock after buying an additional 5,120 shares during the period. Sequoia Financial Advisors LLC’s holdings in Grayscale Bitcoin Trust were worth $9,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Grayscale Bitcoin Trust in the first quarter valued at $117,350,000. Farallon Capital Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at about $85,221,000. Sloy Dahl & Holst LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at about $32,959,000. Bracebridge Capital LLC purchased a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $26,526,000. Finally, Mad River Investors purchased a new position in shares of Grayscale Bitcoin Trust during the first quarter valued at approximately $25,251,000.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC opened at $53.64 on Wednesday. Grayscale Bitcoin Trust has a 1 year low of $23.92 and a 1 year high of $65.61. The company’s 50 day simple moving average is $48.93 and its 200 day simple moving average is $53.74. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

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.