Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sees Large Volume Increase – Here’s Why

Shares of Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) saw strong trading volume on Tuesday . 3,077,806 shares traded hands during trading, an increase of 108% from the previous session’s volume of 1,477,630 shares.The stock last traded at $38.7250 and had previously closed at $37.97.

Grayscale Bitcoin Mini Trust ETF Stock Up 1.6%

The business has a 50 day simple moving average of $44.72 and a 200-day simple moving average of $48.07.

Institutional Trading of Grayscale Bitcoin Mini Trust ETF

A number of large investors have recently bought and sold shares of BTC. Millennium Management LLC lifted its stake in Grayscale Bitcoin Mini Trust ETF by 133.4% in the first quarter. Millennium Management LLC now owns 1,794,858 shares of the company’s stock valued at $65,494,000 after buying an additional 1,025,947 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Grayscale Bitcoin Mini Trust ETF during the third quarter worth $30,477,000. Ovata Capital Management Ltd acquired a new stake in shares of Grayscale Bitcoin Mini Trust ETF during the second quarter worth $27,107,000. Emory University lifted its position in Grayscale Bitcoin Mini Trust ETF by 91.0% in the 3rd quarter. Emory University now owns 1,023,417 shares of the company’s stock valued at $51,816,000 after acquiring an additional 487,636 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new position in Grayscale Bitcoin Mini Trust ETF in the 2nd quarter worth $11,374,000. 27.38% of the stock is owned by institutional investors.

Grayscale Bitcoin Mini Trust ETF Company Profile

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.