Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Short Interest Up 551.0% in January

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 3,973,214 shares, an increase of 551.0% from the January 15th total of 610,369 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 4,805,868 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 4,805,868 shares, the short-interest ratio is presently 0.8 days. Currently, 1.7% of the shares of the company are sold short.

Institutional Trading of Grayscale Bitcoin Trust ETF

Several hedge funds have recently modified their holdings of GBTC. Root Financial Partners LLC purchased a new position in Grayscale Bitcoin Trust ETF in the third quarter worth $29,000. Strengthening Families & Communities LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF during the 3rd quarter worth $33,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF in the 2nd quarter valued at about $33,000. Holos Integrated Wealth LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the fourth quarter valued at about $28,000. Finally, Westfuller Advisors LLC purchased a new stake in Grayscale Bitcoin Trust ETF during the third quarter worth about $38,000.

Grayscale Bitcoin Trust ETF Stock Down 2.8%

NYSEARCA GBTC traded down $1.56 during trading hours on Tuesday, hitting $53.63. 5,080,255 shares of the stock were exchanged, compared to its average volume of 6,105,132. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a 12-month low of $48.56 and a 12-month high of $99.12. The stock has a 50-day moving average of $68.18 and a 200 day moving average of $79.74.

Grayscale Bitcoin Trust ETF Company Profile

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.