Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Reaches New 12-Month Low – Time to Sell?

Shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $59.53 and last traded at $59.1660, with a volume of 4880136 shares. The stock had previously closed at $60.82.

Grayscale Bitcoin Trust ETF Stock Down 2.0%

The business’s fifty day moving average is $69.95 and its two-hundred day moving average is $81.34. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in Grayscale Bitcoin Trust ETF in the third quarter worth about $29,000. Strengthening Families & Communities LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the 3rd quarter worth approximately $33,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the 2nd quarter worth approximately $33,000. Holos Integrated Wealth LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF during the fourth quarter worth approximately $28,000. Finally, Westfuller Advisors LLC acquired a new position in Grayscale Bitcoin Trust ETF in the third quarter valued at approximately $38,000.

About Grayscale Bitcoin Trust ETF

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.