SignalPoint Asset Management LLC Makes New Investment in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

SignalPoint Asset Management LLC purchased a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 1st quarter, Holdings Channel.com reports. The fund purchased 4,257 shares of the company’s stock, valued at approximately $269,000.

Other large investors have also recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth approximately $942,000. SVB Wealth LLC bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth approximately $770,000. Next Capital Management LLC bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth approximately $670,000. Garde Capital Inc. bought a new position in shares of Grayscale Bitcoin Trust in the fourth quarter worth approximately $602,000. Finally, Tradition Wealth Management LLC bought a new stake in Grayscale Bitcoin Trust in the fourth quarter valued at $597,000.

Grayscale Bitcoin Trust Stock Down 1.2 %

NYSEARCA:GBTC opened at $57.04 on Friday. The stock has a market cap of $29.13 billion, a P/E ratio of 2.29 and a beta of 1.25. The firm’s fifty day simple moving average is $58.23 and its 200 day simple moving average is $50.79. Grayscale Bitcoin Trust has a twelve month low of $17.00 and a twelve month high of $65.61.

About Grayscale Bitcoin Trust

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.