Brave Asset Management Inc. Takes Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Brave Asset Management Inc. bought a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the 4th quarter, Holdings Channel reports. The firm bought 3,173 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC lifted its stake in Grayscale Bitcoin Trust by 2.3% in the third quarter. Bleakley Financial Group LLC now owns 60,389 shares of the company’s stock valued at $3,050,000 after acquiring an additional 1,349 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Grayscale Bitcoin Trust during the third quarter worth about $46,000. Intellectus Partners LLC grew its holdings in Grayscale Bitcoin Trust by 4.1% during the third quarter. Intellectus Partners LLC now owns 79,934 shares of the company’s stock worth $4,037,000 after purchasing an additional 3,165 shares during the period. Sound Income Strategies LLC increased its position in Grayscale Bitcoin Trust by 6.3% during the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock worth $235,000 after buying an additional 276 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Grayscale Bitcoin Trust by 25.6% in the third quarter. Cerity Partners LLC now owns 44,913 shares of the company’s stock valued at $2,268,000 after buying an additional 9,152 shares during the period.

Grayscale Bitcoin Trust Trading Up 3.3 %

Shares of NYSEARCA GBTC opened at $78.97 on Thursday. The company has a market capitalization of $40.33 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 12 month low of $34.31 and a 12 month high of $86.11. The stock has a 50 day moving average of $75.76 and a 200-day moving average of $59.71.

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.