Legacy Investment Solutions LLC Raises Position in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Legacy Investment Solutions LLC boosted its holdings in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 58.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,955 shares of the company’s stock after buying an additional 720 shares during the period. Legacy Investment Solutions LLC’s holdings in Grayscale Bitcoin Trust were worth $148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBTC. Proficio Capital Partners LLC grew its stake in Grayscale Bitcoin Trust by 4,462.7% in the 4th quarter. Proficio Capital Partners LLC now owns 2,103,962 shares of the company’s stock worth $155,735,000 after buying an additional 2,057,850 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Grayscale Bitcoin Trust during the 4th quarter worth $19,360,000. SLT Holdings LLC purchased a new position in Grayscale Bitcoin Trust in the fourth quarter worth $10,203,000. Discovery Capital Management LLC CT bought a new position in Grayscale Bitcoin Trust in the fourth quarter valued at $7,950,000. Finally, Citrine Capital LLC purchased a new stake in Grayscale Bitcoin Trust during the fourth quarter valued at about $7,721,000.

Grayscale Bitcoin Trust Stock Performance

Shares of Grayscale Bitcoin Trust stock opened at $66.27 on Friday. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 2.23 and a beta of 2.56. The company has a fifty day moving average of $69.14 and a 200-day moving average of $69.23. Grayscale Bitcoin Trust has a 52-week low of $39.56 and a 52-week high of $86.11.

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.