Grayscale Bitcoin Trust (NYSEARCA:GBTC) Shares Gap Down to $59.21

Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) gapped down before the market opened on Tuesday . The stock had previously closed at $59.21, but opened at $57.59. Grayscale Bitcoin Trust shares last traded at $57.60, with a volume of 482,169 shares traded.

Grayscale Bitcoin Trust Stock Performance

The company has a fifty day moving average of $58.57 and a two-hundred day moving average of $50.29. The firm has a market capitalization of $29.29 billion, a price-to-earnings ratio of 2.29 and a beta of 1.25.

Institutional Investors Weigh In On Grayscale Bitcoin Trust

A number of large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth approximately $117,350,000. Farallon Capital Management LLC acquired a new position in shares of Grayscale Bitcoin Trust during the 1st quarter worth $85,221,000. Sloy Dahl & Holst LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 1st quarter worth $32,959,000. Bracebridge Capital LLC acquired a new stake in Grayscale Bitcoin Trust in the first quarter valued at about $26,526,000. Finally, Mad River Investors acquired a new position in Grayscale Bitcoin Trust during the 1st quarter worth approximately $25,251,000.

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.