Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Trading Up 6.4% – Should You Buy?

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) rose 6.4% during trading on Tuesday . The company traded as high as $40.36 and last traded at $40.2910. Approximately 961,921 shares traded hands during trading, a decline of 32% from the average daily volume of 1,421,893 shares. The stock had previously closed at $37.85.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The stock has a fifty day moving average price of $46.41 and a 200 day moving average price of $48.45.

Hedge Funds Weigh In On Grayscale Bitcoin Mini Trust ETF

A number of institutional investors have recently modified their holdings of BTC. Avantax Advisory Services Inc. bought a new stake in shares of Grayscale Bitcoin Mini Trust ETF during the 1st quarter worth $475,000. US Bancorp DE lifted its position in Grayscale Bitcoin Mini Trust ETF by 142.1% during the 1st quarter. US Bancorp DE now owns 21,578 shares of the company’s stock worth $787,000 after acquiring an additional 12,666 shares during the last quarter. Headlands Technologies LLC lifted its position in Grayscale Bitcoin Mini Trust ETF by 219.1% during the 1st quarter. Headlands Technologies LLC now owns 702 shares of the company’s stock worth $26,000 after acquiring an additional 482 shares during the last quarter. Sloy Dahl & Holst LLC boosted its holdings in Grayscale Bitcoin Mini Trust ETF by 3.7% during the first quarter. Sloy Dahl & Holst LLC now owns 639,141 shares of the company’s stock valued at $23,322,000 after acquiring an additional 22,966 shares during the period. Finally, Townsquare Capital LLC grew its position in shares of Grayscale Bitcoin Mini Trust ETF by 10.1% in the first quarter. Townsquare Capital LLC now owns 11,350 shares of the company’s stock valued at $414,000 after purchasing an additional 1,042 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

About Grayscale Bitcoin Mini Trust ETF

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin.