Merit Financial Group LLC Raises Stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Merit Financial Group LLC boosted its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 74.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 65,738 shares of the company’s stock after buying an additional 27,980 shares during the period. Merit Financial Group LLC’s holdings in Grayscale Bitcoin Trust were worth $4,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBTC. Greenwich Wealth Management LLC raised its stake in shares of Grayscale Bitcoin Trust by 99.9% in the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock valued at $54,379,000 after acquiring an additional 538,256 shares during the period. Magnolia Capital Advisors LLC purchased a new position in Grayscale Bitcoin Trust in the second quarter valued at about $14,810,000. International Assets Investment Management LLC lifted its stake in shares of Grayscale Bitcoin Trust by 4,950.0% during the third quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock worth $97,670,000 after purchasing an additional 189,585 shares in the last quarter. Atlas Wealth Partners LLC purchased a new stake in shares of Grayscale Bitcoin Trust in the third quarter worth about $7,774,000. Finally, DRW Securities LLC acquired a new stake in shares of Grayscale Bitcoin Trust in the second quarter valued at about $4,438,000.

Grayscale Bitcoin Trust Stock Performance

Shares of NYSEARCA:GBTC opened at $83.05 on Friday. The business’s 50-day simple moving average is $76.57 and its 200 day simple moving average is $60.07. The company has a market cap of $42.41 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a one year low of $34.31 and a one year high of $86.11.

Grayscale Bitcoin Trust 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.