Malaga Cove Capital LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Malaga Cove Capital LLC acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,914 shares of the company’s stock, valued at approximately $753,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of Grayscale Bitcoin Trust in the 1st quarter worth approximately $117,350,000. Farallon Capital Management LLC bought a new stake in shares of Grayscale Bitcoin Trust during the first quarter worth $85,221,000. Greenwich Wealth Management LLC increased its stake in shares of Grayscale Bitcoin Trust by 99.9% in the third quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock valued at $54,379,000 after buying an additional 538,256 shares in the last quarter. LPL Financial LLC lifted its position in Grayscale Bitcoin Trust by 7.1% during the 2nd quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock worth $54,887,000 after buying an additional 68,698 shares in the last quarter. Finally, Bracebridge Capital LLC bought a new stake in Grayscale Bitcoin Trust during the 1st quarter worth about $26,526,000.

Grayscale Bitcoin Trust Price Performance

GBTC opened at $60.65 on Thursday. The company’s 50 day simple moving average is $50.55 and its 200-day simple moving average is $53.50. Grayscale Bitcoin Trust has a one year low of $26.58 and a one year high of $65.61. The stock has a market capitalization of $30.97 billion, a P/E 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.