Ciovacco Capital Management LLC Makes New $696,000 Investment in Grayscale Bitcoin Trust ETF $GBTC

Ciovacco Capital Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,748 shares of the company’s stock, valued at approximately $696,000. Grayscale Bitcoin Trust ETF makes up 0.3% of Ciovacco Capital Management LLC’s portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBTC. NewEdge Advisors LLC boosted its holdings in Grayscale Bitcoin Trust ETF by 3.0% during the first quarter. NewEdge Advisors LLC now owns 49,782 shares of the company’s stock worth $3,244,000 after purchasing an additional 1,472 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Grayscale Bitcoin Trust ETF during the 1st quarter worth about $218,000. Adalta Capital Management LLC boosted its stake in shares of Grayscale Bitcoin Trust ETF by 20.9% during the 1st quarter. Adalta Capital Management LLC now owns 4,135 shares of the company’s stock worth $269,000 after buying an additional 715 shares during the last quarter. SCS Capital Management LLC bought a new position in shares of Grayscale Bitcoin Trust ETF in the 1st quarter valued at about $4,950,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the first quarter valued at about $215,000.

Grayscale Bitcoin Trust ETF Stock Performance

GBTC opened at $73.61 on Tuesday. The business’s 50-day simple moving average is $72.99 and its 200 day simple moving average is $83.67. Grayscale Bitcoin Trust ETF has a 52-week low of $59.79 and a 52-week high of $99.12. The firm has a market capitalization of $17.72 billion, a PE ratio of 2.23 and a beta of 2.40.

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.