Simplify Asset Management Inc. Buys 7,578 Shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Simplify Asset Management Inc. increased its stake in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 23.5% during the second quarter, Holdings Channel.com reports. The fund owned 39,867 shares of the company’s stock after buying an additional 7,578 shares during the period. Simplify Asset Management Inc.’s holdings in Grayscale Bitcoin Trust were worth $2,123,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. DHJJ Financial Advisors Ltd. acquired a new stake in Grayscale Bitcoin Trust during the second quarter worth approximately $26,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Grayscale Bitcoin Trust in the first quarter valued at $27,000. Global Wealth Strategies & Associates bought a new position in shares of Grayscale Bitcoin Trust during the 2nd quarter worth about $27,000. YHB Investment Advisors Inc. bought a new stake in Grayscale Bitcoin Trust in the 1st quarter valued at about $28,000. Finally, Toth Financial Advisory Corp acquired a new position in Grayscale Bitcoin Trust during the 1st quarter worth approximately $28,000.

Grayscale Bitcoin Trust Stock Performance

Shares of Grayscale Bitcoin Trust stock opened at $50.40 on Friday. Grayscale Bitcoin Trust has a 52 week low of $18.04 and a 52 week high of $65.61. The stock has a 50 day moving average price of $49.90 and a two-hundred day moving average price of $55.40. The stock has a market capitalization of $25.74 billion, a PE ratio of 2.29 and a beta of 1.25.

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.