Mad River Investors Purchases 82,187 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Mad River Investors lifted its position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 26.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 389,745 shares of the company’s stock after buying an additional 82,187 shares during the quarter. Grayscale Bitcoin Trust comprises about 10.9% of Mad River Investors’ holdings, making the stock its 2nd largest position. Mad River Investors’ holdings in Grayscale Bitcoin Trust were worth $19,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Grayscale Bitcoin Trust during the 1st quarter worth about $117,350,000. Farallon Capital Management LLC acquired a new stake in Grayscale Bitcoin Trust during the first quarter worth approximately $85,221,000. LPL Financial LLC increased its holdings in Grayscale Bitcoin Trust by 7.1% in the second quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock worth $54,887,000 after purchasing an additional 68,698 shares in the last quarter. Sloy Dahl & Holst LLC acquired a new position in Grayscale Bitcoin Trust in the first quarter valued at approximately $32,959,000. Finally, Bracebridge Capital LLC bought a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth approximately $26,526,000.

Grayscale Bitcoin Trust Stock Performance

Shares of GBTC stock traded down $1.10 during trading hours on Wednesday, hitting $52.54. 971,086 shares of the company were exchanged, compared to its average volume of 9,359,301. Grayscale Bitcoin Trust has a fifty-two week low of $24.85 and a fifty-two week high of $65.61. The company has a 50 day simple moving average of $48.93 and a two-hundred day simple moving average of $53.74. The firm has a market cap of $26.83 billion, a P/E ratio of 2.29 and a beta of 1.25.

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.