Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Shares Gap Up – Should You Buy?

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $30.27, but opened at $31.81. Grayscale Bitcoin Mini Trust ETF shares last traded at $31.64, with a volume of 954,006 shares trading hands.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The company has a fifty day moving average of $28.10 and a two-hundred day moving average of $30.52.

Institutional Investors Weigh In On Grayscale Bitcoin Mini Trust ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Grayscale Bitcoin Mini Trust ETF by 33.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 69,462 shares of the company’s stock worth $1,803,000 after buying an additional 17,480 shares in the last quarter. Chase Investment Counsel Corp bought a new position in Grayscale Bitcoin Mini Trust ETF during the second quarter worth about $856,000. Bank of New York Mellon Corp bought a new position in Grayscale Bitcoin Mini Trust ETF during the second quarter worth about $596,000. Weil Company Inc. raised its stake in Grayscale Bitcoin Mini Trust ETF by 36.5% in the 2nd quarter. Weil Company Inc. now owns 89,011 shares of the company’s stock worth $2,310,000 after purchasing an additional 23,804 shares in the last quarter. Finally, R. W. Roge & Company Inc. raised its stake in Grayscale Bitcoin Mini Trust ETF by 7.2% in the 2nd quarter. R. W. Roge & Company Inc. now owns 87,238 shares of the company’s stock worth $2,263,000 after purchasing an additional 5,857 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

About Grayscale Bitcoin Mini Trust ETF

The Grayscale Bitcoin Mini Trust ETF (BTC) is an exchange-traded fund that is based on the CoinDesk Bitcoin Cash Price index. The fund is passively managed, offering exposure to the daily USD spot price of Bitcoin, less expenses and liabilities. An investment in the fund is not a direct investment in Bitcoin. BTC was launched on Jul 31, 2024 and is issued by Grayscale.