Grayscale Bitcoin Trust (NYSEARCA:GBTC) Hits New 1-Year High – Here’s What Happened

Grayscale Bitcoin Trust (NYSEARCA:GBTC)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $65.74 and last traded at $65.71, with a volume of 665148 shares. The stock had previously closed at $61.05.

Grayscale Bitcoin Trust Stock Up 2.9 %

The stock’s 50-day moving average price is $51.56 and its 200 day moving average price is $53.58. The firm has a market capitalization of $36.38 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new position in Grayscale Bitcoin Trust during the first quarter worth $363,000. Quent Capital LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $460,000. Atomi Financial Group Inc. purchased a new stake in shares of Grayscale Bitcoin Trust in the first quarter valued at about $208,000. Concurrent Investment Advisors LLC acquired a new stake in Grayscale Bitcoin Trust during the first quarter worth about $213,000. Finally, NorthRock Partners LLC purchased a new position in Grayscale Bitcoin Trust during the first quarter worth about $225,000.

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.