EP Wealth Advisors LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

EP Wealth Advisors LLC purchased a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,311 shares of the company’s stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBTC. Sloy Dahl & Holst LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $32,959,000. Bracebridge Capital LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $26,526,000. Mad River Investors bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $25,251,000. Global Assets Advisory LLC bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $22,079,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth approximately $21,571,000.

Grayscale Bitcoin Trust Stock Up 5.2 %

GBTC stock traded up $2.97 during midday trading on Friday, hitting $60.33. The company’s stock had a trading volume of 4,489,583 shares, compared to its average volume of 11,720,469. Grayscale Bitcoin Trust has a 12 month low of $17.00 and a 12 month high of $65.61. The firm has a market capitalization of $30.81 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. The company has a 50 day moving average of $57.68 and a two-hundred day moving average of $53.88.

Grayscale Bitcoin Trust 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.