SP Asset Management LLC Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

SP Asset Management LLC bought a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,640 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at approximately $4,205,000. Cullen Frost Bankers Inc. purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at approximately $36,000. Mainstream Capital Management LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at approximately $287,000. Synergy Investment Management LLC purchased a new position in shares of Grayscale Bitcoin Trust during the 4th quarter valued at approximately $30,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Grayscale Bitcoin Trust by 28.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,549 shares of the company’s stock valued at $337,000 after purchasing an additional 1,004 shares in the last quarter.

Grayscale Bitcoin Trust Price Performance

NYSEARCA:GBTC opened at $71.56 on Thursday. The firm has a market cap of $18.09 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51. The company has a 50 day moving average price of $76.53 and a 200-day moving average price of $65.68. Grayscale Bitcoin Trust has a 1-year low of $39.56 and a 1-year high of $86.11.

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.