Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Shares Gap Up – Here’s What Happened

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) gapped up before the market opened on Friday . The stock had previously closed at $66.11, but opened at $68.84. Grayscale Bitcoin Trust ETF shares last traded at $68.9020, with a volume of 1,695,716 shares traded.

Grayscale Bitcoin Trust ETF Trading Up 2.9%

The firm has a market capitalization of $16.38 billion, a P/E ratio of 2.23 and a beta of 2.40. The business has a 50 day moving average of $77.39 and a 200-day moving average of $84.87.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

Several institutional investors have recently added to or reduced their stakes in GBTC. Root Financial Partners LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 3rd quarter worth $29,000. Strengthening Families & Communities LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the third quarter valued at about $33,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the second quarter valued at about $33,000. Westfuller Advisors LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF during the third quarter worth about $38,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Grayscale Bitcoin Trust ETF during the second quarter worth about $42,000.

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.