Grayscale Bitcoin Trust ETF Target of Unusually High Options Trading (NYSEARCA:GBTC)

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) saw unusually large options trading activity on Wednesday. Stock investors bought 20,897 call options on the stock. This represents an increase of 374% compared to the typical daily volume of 4,410 call options.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

A number of hedge funds and other institutional investors have recently modified their holdings of GBTC. Root Financial Partners LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF in the third quarter valued at approximately $29,000. Elevation Point Wealth Partners LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 2nd quarter valued at $33,000. Strengthening Families & Communities LLC acquired a new position in Grayscale Bitcoin Trust ETF in the 3rd quarter valued at $33,000. Westfuller Advisors LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF during the 3rd quarter worth $38,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF during the first quarter worth $39,000.

Grayscale Bitcoin Trust ETF Stock Up 2.1%

Shares of GBTC opened at $72.73 on Thursday. Grayscale Bitcoin Trust ETF has a 52-week low of $59.79 and a 52-week high of $99.12. The company has a 50-day simple moving average of $82.39 and a 200-day simple moving average of $86.02. The company has a market capitalization of $17.51 billion, a PE ratio of 2.23 and a beta of 2.40.

About Grayscale Bitcoin Trust ETF

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.