Secure Asset Management LLC Grows Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Secure Asset Management LLC boosted its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 39.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,862 shares of the company’s stock after acquiring an additional 2,509 shares during the period. Secure Asset Management LLC’s holdings in Grayscale Bitcoin Trust were worth $448,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GBTC. Dixon Mitchell Investment Counsel Inc. bought a new stake in Grayscale Bitcoin Trust in the first quarter worth $27,000. Toth Financial Advisory Corp bought a new position in Grayscale Bitcoin Trust in the 1st quarter worth about $28,000. Hollencrest Capital Management purchased a new stake in Grayscale Bitcoin Trust during the 1st quarter valued at about $28,000. DHJJ Financial Advisors Ltd. bought a new stake in Grayscale Bitcoin Trust during the 2nd quarter valued at about $26,000. Finally, Global Wealth Strategies & Associates purchased a new position in Grayscale Bitcoin Trust in the second quarter worth about $27,000.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA GBTC opened at $54.60 on Friday. The firm’s 50 day moving average price is $48.70 and its 200-day moving average price is $53.90. Grayscale Bitcoin Trust has a 52-week low of $22.01 and a 52-week high of $65.61. The company has a market cap of $27.88 billion, a PE ratio of 2.29 and a beta of 1.25.

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.