Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Reaches New 12-Month Low – What’s Next?

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $31.86 and last traded at $32.46, with a volume of 7548781 shares changing hands. The stock had previously closed at $33.79.

Grayscale Bitcoin Mini Trust ETF Stock Performance

The company has a 50 day moving average price of $39.38 and a two-hundred day moving average price of $45.73.

Institutional Trading of Grayscale Bitcoin Mini Trust ETF

Several institutional investors have recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. boosted its stake in Grayscale Bitcoin Mini Trust ETF by 51.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 151,358 shares of the company’s stock worth $7,663,000 after buying an additional 51,217 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Grayscale Bitcoin Mini Trust ETF by 16,175.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 32,389 shares of the company’s stock worth $1,547,000 after acquiring an additional 32,190 shares during the last quarter. Peak Financial Advisors LLC acquired a new position in shares of Grayscale Bitcoin Mini Trust ETF in the 3rd quarter worth approximately $2,565,000. SteelPeak Wealth LLC purchased a new position in shares of Grayscale Bitcoin Mini Trust ETF during the 3rd quarter worth approximately $30,477,000. Finally, AE Wealth Management LLC acquired a new stake in Grayscale Bitcoin Mini Trust ETF in the 2nd quarter valued at approximately $220,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

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. BTC was launched on Jul 31, 2024 and is issued by Grayscale.