IFP Advisors Inc Raises Stock Position in Grayscale Bitcoin Trust ETF $GBTC

IFP Advisors Inc raised its position in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 24.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,305 shares of the company’s stock after buying an additional 857 shares during the quarter. IFP Advisors Inc’s holdings in Grayscale Bitcoin Trust ETF were worth $365,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. BCS Wealth Management grew its stake in shares of Grayscale Bitcoin Trust ETF by 1.2% during the 2nd quarter. BCS Wealth Management now owns 9,151 shares of the company’s stock worth $776,000 after purchasing an additional 110 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Grayscale Bitcoin Trust ETF by 1.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 13,446 shares of the company’s stock worth $1,141,000 after purchasing an additional 155 shares during the period. Bulltick Wealth Management LLC grew its stake in shares of Grayscale Bitcoin Trust ETF by 2.4% during the 1st quarter. Bulltick Wealth Management LLC now owns 7,659 shares of the company’s stock worth $499,000 after purchasing an additional 178 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Grayscale Bitcoin Trust ETF by 90.9% during the 1st quarter. First Horizon Advisors Inc. now owns 420 shares of the company’s stock worth $27,000 after purchasing an additional 200 shares during the period. Finally, Modern Wealth Management LLC grew its stake in shares of Grayscale Bitcoin Trust ETF by 1.7% during the 1st quarter. Modern Wealth Management LLC now owns 12,313 shares of the company’s stock worth $802,000 after purchasing an additional 210 shares during the period.

Grayscale Bitcoin Trust ETF Stock Down 1.2%

NYSEARCA:GBTC opened at $87.23 on Thursday. Grayscale Bitcoin Trust ETF has a fifty-two week low of $51.83 and a fifty-two week high of $99.12. The stock has a market cap of $21.00 billion, a PE ratio of 2.23 and a beta of 2.47. The firm’s fifty day simple moving average is $90.33 and its 200-day simple moving average is $84.17.

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.