Variant Private Wealth LLC Invests $7.11 Million in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Variant Private Wealth LLC purchased a new position in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 96,101 shares of the company’s stock, valued at approximately $7,113,000. Grayscale Bitcoin Trust makes up approximately 6.8% of Variant Private Wealth LLC’s portfolio, making the stock its 2nd biggest position.

Other institutional investors have also modified their holdings of the company. Greenwich Wealth Management LLC lifted its stake in Grayscale Bitcoin Trust by 99.9% in the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock valued at $54,379,000 after buying an additional 538,256 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Grayscale Bitcoin Trust in the 4th quarter valued at $19,360,000. International Assets Investment Management LLC raised its holdings in Grayscale Bitcoin Trust by 4,950.0% in the 3rd quarter. International Assets Investment Management LLC now owns 193,415 shares of the company’s stock valued at $97,670,000 after acquiring an additional 189,585 shares during the last quarter. Citrine Capital LLC acquired a new position in Grayscale Bitcoin Trust in the 4th quarter valued at $7,721,000. Finally, Larson Financial Group LLC increased its holdings in shares of Grayscale Bitcoin Trust by 204.3% during the 3rd quarter. Larson Financial Group LLC now owns 102,433 shares of the company’s stock worth $5,173,000 after buying an additional 68,768 shares during the last quarter.

Grayscale Bitcoin Trust Stock Down 3.8 %

GBTC stock opened at $75.06 on Friday. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 2.23 and a beta of 2.51. The business has a fifty day simple moving average of $78.25 and a 200-day simple moving average of $64.09. Grayscale Bitcoin Trust has a 52 week low of $39.56 and a 52 week high of $86.11.

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.