Equitable Trust Co. Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Equitable Trust Co. bought a new position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 2,824 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds have also added to or reduced their stakes in GBTC. Soltis Investment Advisors LLC raised its holdings in Grayscale Bitcoin Trust by 3.1% during the 4th quarter. Soltis Investment Advisors LLC now owns 20,431 shares of the company’s stock valued at $1,512,000 after buying an additional 611 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Grayscale Bitcoin Trust in the fourth quarter valued at about $292,000. Activest Wealth Management increased its position in shares of Grayscale Bitcoin Trust by 53.0% in the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Grayscale Bitcoin Trust during the fourth quarter valued at about $1,812,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Grayscale Bitcoin Trust by 17.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 56,476 shares of the company’s stock worth $4,180,000 after purchasing an additional 8,501 shares during the period.

Grayscale Bitcoin Trust Price Performance

Shares of NYSEARCA:GBTC opened at $75.40 on Wednesday. The stock’s 50-day moving average is $78.57 and its 200 day moving average is $62.97. The company has a market cap of $38.51 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 1 year low of $39.56 and a 1 year high of $86.11.

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.