Mad River Investors Has $19.68 Million Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Mad River Investors increased its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 26.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 389,745 shares of the company’s stock after purchasing an additional 82,187 shares during the quarter. Grayscale Bitcoin Trust makes up 10.9% of Mad River Investors’ holdings, making the stock its 2nd largest position. Mad River Investors owned about 0.08% of Grayscale Bitcoin Trust worth $19,682,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Grayscale Bitcoin Trust in the first quarter valued at $117,350,000. Farallon Capital Management LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at about $85,221,000. LPL Financial LLC raised its holdings in Grayscale Bitcoin Trust by 7.1% in the 2nd quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock valued at $54,887,000 after acquiring an additional 68,698 shares during the period. Sloy Dahl & Holst LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth approximately $32,959,000. Finally, Bracebridge Capital LLC bought a new position in shares of Grayscale Bitcoin Trust during the first quarter worth approximately $26,526,000.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC stock traded down $1.10 on Wednesday, hitting $52.54. The company’s stock had a trading volume of 971,086 shares, compared to its average volume of 9,359,301. Grayscale Bitcoin Trust has a fifty-two week low of $24.85 and a fifty-two week high of $65.61. The stock’s 50 day moving average is $48.93 and its 200-day moving average is $53.74. The company has a market capitalization of $26.83 billion, a PE 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.