TB Alternative Assets Ltd. Invests $2.06 Million in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

TB Alternative Assets Ltd. acquired a new stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 27,841 shares of the company’s stock, valued at approximately $2,061,000. Grayscale Bitcoin Trust accounts for 0.5% of TB Alternative Assets Ltd.’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Synovus Financial Corp raised its stake in shares of Grayscale Bitcoin Trust by 0.8% during the 3rd quarter. Synovus Financial Corp now owns 20,956 shares of the company’s stock worth $1,058,000 after buying an additional 169 shares in the last quarter. Flagstar Advisors Inc. grew its holdings in Grayscale Bitcoin Trust by 2.7% during the third quarter. Flagstar Advisors Inc. now owns 7,472 shares of the company’s stock worth $377,000 after acquiring an additional 196 shares during the period. Cornerstone Wealth Management LLC raised its position in Grayscale Bitcoin Trust by 6.7% in the third quarter. Cornerstone Wealth Management LLC now owns 4,100 shares of the company’s stock worth $207,000 after acquiring an additional 257 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Grayscale Bitcoin Trust by 6.3% in the third quarter. Sound Income Strategies LLC now owns 4,651 shares of the company’s stock valued at $235,000 after acquiring an additional 276 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its position in shares of Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock worth $30,000 after purchasing an additional 310 shares in the last quarter.

Grayscale Bitcoin Trust Stock Up 4.4 %

NYSEARCA:GBTC opened at $83.05 on Tuesday. The firm’s fifty day simple moving average is $76.85 and its 200-day simple moving average is $60.32. The stock has a market cap of $42.41 billion, a PE ratio of 2.29 and a beta of 1.25. Grayscale Bitcoin Trust has a fifty-two week low of $34.31 and a fifty-two week high of $86.11.

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.