Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Shares Gap Down – Should You Sell?

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) gapped down prior to trading on Monday . The stock had previously closed at $37.08, but opened at $34.52. Grayscale Bitcoin Mini Trust ETF shares last traded at $34.78, with a volume of 2,643,610 shares changing hands.

Grayscale Bitcoin Mini Trust ETF Stock Down 6.2%

The business has a 50-day moving average of $39.72 and a 200-day moving average of $46.08.

Institutional Investors Weigh In On Grayscale Bitcoin Mini Trust ETF

Several large investors have recently made changes to their positions in BTC. Redhawk Wealth Advisors Inc. raised its stake in Grayscale Bitcoin Mini Trust ETF by 51.1% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 151,358 shares of the company’s stock valued at $7,663,000 after acquiring an additional 51,217 shares during the period. Peak Financial Advisors LLC bought a new position in shares of Grayscale Bitcoin Mini Trust ETF in the third quarter valued at about $2,565,000. Steward Partners Investment Advisory LLC raised its position in shares of Grayscale Bitcoin Mini Trust ETF by 16,175.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 32,389 shares of the company’s stock valued at $1,547,000 after purchasing an additional 32,190 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Grayscale Bitcoin Mini Trust ETF during the 3rd quarter worth about $30,477,000. Finally, AE Wealth Management LLC bought a new stake in shares of Grayscale Bitcoin Mini Trust ETF during the 2nd quarter worth about $220,000. Institutional investors and hedge funds 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. BTC was launched on Jul 31, 2024 and is issued by Grayscale.