Independent Financial Group LLC Makes New $2.69 Million Investment in Grayscale Bitcoin Trust ETF $GBTC

Independent Financial Group LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,998 shares of the company’s stock, valued at approximately $2,691,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GBTC. Garton & Associates Financial Advisors LLC acquired a new stake in Grayscale Bitcoin Trust ETF during the 4th quarter worth $27,000. Holos Integrated Wealth LLC bought a new position in Grayscale Bitcoin Trust ETF during the fourth quarter worth about $28,000. CoreCap Advisors LLC grew its stake in Grayscale Bitcoin Trust ETF by 160.9% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in Grayscale Bitcoin Trust ETF in the fourth quarter valued at about $30,000. Finally, RHL Group LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the fourth quarter worth about $43,000.

Grayscale Bitcoin Trust ETF Price Performance

NYSEARCA GBTC opened at $49.71 on Friday. The firm has a market cap of $9.64 billion, a P/E ratio of 2.23 and a beta of 2.19. The stock’s 50-day moving average is $52.30 and its 200-day moving average is $57.09. Grayscale Bitcoin Trust ETF has a one year low of $44.98 and a one year high of $99.12.

About Grayscale Bitcoin Trust ETF

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.