Spire Wealth Management Sells 2,395 Shares of Grayscale Bitcoin Trust ETF $GBTC

Spire Wealth Management cut its holdings in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 9.3% during the second quarter, Holdings Channel.com reports. The firm owned 23,241 shares of the company’s stock after selling 2,395 shares during the period. Spire Wealth Management’s holdings in Grayscale Bitcoin Trust ETF were worth $1,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GBTC. Palacios Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust ETF during the first quarter valued at approximately $65,170,000. DRW Securities LLC boosted its stake in shares of Grayscale Bitcoin Trust ETF by 849.0% during the first quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock valued at $24,151,000 after purchasing an additional 331,538 shares in the last quarter. SCS Capital Management LLC bought a new position in shares of Grayscale Bitcoin Trust ETF during the first quarter valued at approximately $4,950,000. Cresset Asset Management LLC boosted its stake in shares of Grayscale Bitcoin Trust ETF by 27.0% during the first quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock valued at $19,549,000 after purchasing an additional 63,749 shares in the last quarter. Finally, Ethos Financial Group LLC bought a new position in shares of Grayscale Bitcoin Trust ETF during the first quarter valued at approximately $3,468,000.

Grayscale Bitcoin Trust ETF Stock Performance

NYSEARCA GBTC opened at $83.34 on Friday. The firm’s 50 day moving average price is $89.10 and its 200-day moving average price is $85.97. Grayscale Bitcoin Trust ETF has a 52-week low of $53.37 and a 52-week high of $99.12. The company has a market cap of $20.06 billion, a PE ratio of 2.23 and a beta of 2.40.

Grayscale Bitcoin Trust ETF 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.