Grayscale Bitcoin Trust (NYSEARCA:GBTC) Stake Raised by Cynosure Group LLC

Cynosure Group LLC raised its stake in shares of Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,072 shares of the company’s stock after buying an additional 2,454 shares during the period. Cynosure Group LLC’s holdings in Grayscale Bitcoin Trust were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Farallon Capital Management LLC bought a new position in shares of Grayscale Bitcoin Trust during the 1st quarter valued at about $85,221,000. Greenwich Wealth Management LLC lifted its position in Grayscale Bitcoin Trust by 99.9% in the 3rd quarter. Greenwich Wealth Management LLC now owns 1,076,820 shares of the company’s stock worth $54,379,000 after buying an additional 538,256 shares in the last quarter. LPL Financial LLC grew its stake in Grayscale Bitcoin Trust by 7.1% in the second quarter. LPL Financial LLC now owns 1,030,932 shares of the company’s stock valued at $54,887,000 after purchasing an additional 68,698 shares in the last quarter. Mad River Investors raised its holdings in shares of Grayscale Bitcoin Trust by 26.7% during the 3rd quarter. Mad River Investors now owns 389,745 shares of the company’s stock valued at $19,682,000 after purchasing an additional 82,187 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Grayscale Bitcoin Trust by 0.4% in the third quarter. Moors & Cabot Inc. now owns 368,975 shares of the company’s stock worth $18,633,000 after buying an additional 1,305 shares during the last quarter.

Grayscale Bitcoin Trust Stock Down 4.3 %

Shares of GBTC stock opened at $72.17 on Wednesday. Grayscale Bitcoin Trust has a 12 month low of $29.88 and a 12 month high of $79.34. The business’s 50 day moving average is $57.66 and its two-hundred day moving average is $55.06. The company has a market cap of $36.86 billion, a PE ratio of 2.29 and a beta of 1.25.

About Grayscale Bitcoin Trust

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.