Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) Sees Large Decrease in Short Interest

Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) was the recipient of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 659,192 shares, a decrease of 60.0% from the February 12th total of 1,646,052 shares. Based on an average daily trading volume, of 6,316,506 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.0% of the company’s shares are sold short. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 6,316,506 shares, the days-to-cover ratio is currently 0.1 days.

Grayscale Bitcoin Mini Trust ETF Price Performance

Shares of BTC stock traded up $0.32 on Friday, reaching $31.50. 4,990,621 shares of the company’s stock were exchanged, compared to its average volume of 5,137,530. The company’s fifty day simple moving average is $34.62 and its 200 day simple moving average is $41.88. Grayscale Bitcoin Mini Trust ETF has a 52 week low of $27.55 and a 52 week high of $55.96.

Institutional Trading of Grayscale Bitcoin Mini Trust ETF

Several institutional investors and hedge funds have recently made changes to their positions in BTC. Redhawk Wealth Advisors Inc. raised its position in Grayscale Bitcoin Mini Trust ETF by 51.1% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 151,358 shares of the company’s stock valued at $7,663,000 after purchasing an additional 51,217 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Grayscale Bitcoin Mini Trust ETF by 44.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 57,801 shares of the company’s stock worth $2,926,000 after buying an additional 17,667 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Grayscale Bitcoin Mini Trust ETF by 16,175.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 32,389 shares of the company’s stock worth $1,547,000 after buying an additional 32,190 shares in the last quarter. Quadcap Wealth Management LLC increased its stake in shares of Grayscale Bitcoin Mini Trust ETF by 39.3% during the second quarter. Quadcap Wealth Management LLC now owns 66,825 shares of the company’s stock valued at $3,191,000 after buying an additional 18,845 shares during the period. Finally, Peak Financial Advisors LLC bought a new stake in shares of Grayscale Bitcoin Mini Trust ETF in the third quarter valued at about $2,565,000. 27.38% of the stock is currently owned by institutional investors.

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.