Revolve Wealth Partners LLC Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Revolve Wealth Partners LLC acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,642 shares of the company’s stock, valued at approximately $407,000.

Several other hedge funds also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. bought a new position in Grayscale Bitcoin Trust in the 2nd quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Grayscale Bitcoin Trust during the first quarter worth about $27,000. Global Wealth Strategies & Associates bought a new position in shares of Grayscale Bitcoin Trust in the 2nd quarter worth $27,000. YHB Investment Advisors Inc. purchased a new stake in Grayscale Bitcoin Trust during the first quarter valued at about $28,000. Finally, Toth Financial Advisory Corp bought a new stake in Grayscale Bitcoin Trust during the first quarter worth about $28,000.

Grayscale Bitcoin Trust Trading Up 4.7 %

Shares of GBTC traded up $2.13 during midday trading on Friday, reaching $47.63. The stock had a trading volume of 3,963,556 shares, compared to its average volume of 11,188,141. The company has a market capitalization of $24.33 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. The company’s 50-day moving average is $53.80 and its 200 day moving average is $55.01.

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.