Verde Capital Management lowered its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC – Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,616 shares of the company’s stock after selling 3,505 shares during the period. Grayscale Bitcoin Trust makes up about 0.9% of Verde Capital Management’s holdings, making the stock its 19th biggest position. Verde Capital Management’s holdings in Grayscale Bitcoin Trust were worth $3,061,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. BOKF NA purchased a new position in Grayscale Bitcoin Trust during the 1st quarter valued at about $57,000. SeaCrest Wealth Management LLC purchased a new position in Grayscale Bitcoin Trust during the first quarter valued at approximately $370,000. Opal Wealth Advisors LLC bought a new stake in Grayscale Bitcoin Trust during the 1st quarter worth approximately $262,000. Level Financial Advisors purchased a new stake in Grayscale Bitcoin Trust in the 1st quarter worth approximately $255,000. Finally, Grimes & Company Inc. bought a new position in Grayscale Bitcoin Trust in the 1st quarter valued at $2,004,000.
Grayscale Bitcoin Trust Price Performance
GBTC opened at $54.60 on Friday. The firm has a market capitalization of $27.88 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a one year low of $22.01 and a one year high of $65.61. The company has a fifty day moving average price of $48.70 and a 200-day moving average price of $53.87.
About Grayscale Bitcoin Trust
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.
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