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

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 trading hands.

Grayscale Bitcoin Trust Price Performance

The stock has a market capitalization of $29.29 billion, a PE ratio of 2.29 and a beta of 1.25. The firm’s 50 day simple moving average is $58.57 and its 200 day simple moving average is $50.29.

Hedge Funds Weigh In On Grayscale Bitcoin Trust

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