CRA Financial Services LLC Lowers Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

CRA Financial Services LLC lowered its holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,114 shares of the company’s stock after selling 2,047 shares during the period. CRA Financial Services LLC’s holdings in Grayscale Bitcoin Trust were worth $1,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GBTC. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Grayscale Bitcoin Trust in the 2nd quarter valued at about $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Grayscale Bitcoin Trust in the 1st quarter valued at about $27,000. Global Wealth Strategies & Associates purchased a new position in shares of Grayscale Bitcoin Trust during the 2nd quarter valued at about $27,000. Toth Financial Advisory Corp purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $28,000. Finally, Hollencrest Capital Management purchased a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $28,000.

Grayscale Bitcoin Trust Stock Up 5.9 %

Shares of NYSEARCA GBTC traded up $2.78 during trading hours on Friday, reaching $50.27. 3,680,703 shares of the stock traded hands, compared to its average volume of 9,604,092. The company has a market capitalization of $25.67 billion, a P/E ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a 52-week low of $19.84 and a 52-week high of $65.61. The company’s 50-day simple moving average is $47.90 and its two-hundred day simple moving average is $54.21.

Grayscale Bitcoin Trust 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.