Aries Wealth Management Has $1.23 Million Stock Position in Grayscale Bitcoin Trust ETF $GBTC

Aries Wealth Management reduced its holdings in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 2.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,545 shares of the company’s stock after selling 350 shares during the period. Aries Wealth Management’s holdings in Grayscale Bitcoin Trust ETF were worth $1,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in Grayscale Bitcoin Trust ETF by 90.9% in the 1st quarter. First Horizon Advisors Inc. now owns 420 shares of the company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Hurley Capital LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at approximately $34,000. Flaharty Asset Management LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at approximately $39,000. Cornerstone Planning Group LLC increased its position in Grayscale Bitcoin Trust ETF by 600.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 875 shares of the company’s stock valued at $57,000 after acquiring an additional 750 shares during the period. Finally, Headlands Technologies LLC increased its position in Grayscale Bitcoin Trust ETF by 227.0% in the 1st quarter. Headlands Technologies LLC now owns 1,128 shares of the company’s stock valued at $74,000 after acquiring an additional 783 shares during the period.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of NYSEARCA GBTC opened at $88.29 on Wednesday. Grayscale Bitcoin Trust ETF has a 52-week low of $51.58 and a 52-week high of $99.12. The firm has a 50 day moving average price of $90.40 and a two-hundred day moving average price of $84.14. The stock has a market cap of $21.26 billion, a P/E ratio of 2.23 and a beta of 2.47.

Grayscale Bitcoin Trust ETF 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.