Deltec Asset Management LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Deltec Asset Management LLC purchased a new stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 14,150 shares of the company’s stock, valued at approximately $894,000.

A number of other hedge funds have also modified their holdings of the stock. Fiduciary Alliance LLC acquired a new position in Grayscale Bitcoin Trust in the first quarter worth approximately $3,313,000. Trilogy Capital Inc. bought a new stake in Grayscale Bitcoin Trust in the first quarter worth approximately $272,000. Cornerstone Wealth Group LLC bought a new stake in Grayscale Bitcoin Trust in the first quarter worth approximately $276,000. Annapolis Financial Services LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $149,000. Finally, Atticus Wealth Management LLC bought a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at $33,000.

Grayscale Bitcoin Trust Price Performance

NYSEARCA:GBTC traded down $1.28 during trading hours on Friday, reaching $53.24. The company’s stock had a trading volume of 3,860,291 shares, compared to its average volume of 12,870,373. The company has a market cap of $27.19 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a one year low of $17.00 and a one year high of $65.61. The business’s 50-day moving average is $58.01 and its 200-day moving average is $51.41.

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.