Grayscale Bitcoin Trust ETF $GBTC Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its holdings in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 65.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,296 shares of the company’s stock after selling 11,684 shares during the period. Cibc World Market Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $565,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GBTC. Ieq Capital LLC boosted its stake in shares of Grayscale Bitcoin Trust ETF by 400.6% during the 2nd quarter. Ieq Capital LLC now owns 113,310 shares of the company’s stock worth $9,612,000 after acquiring an additional 90,675 shares in the last quarter. WESCAP Management Group Inc. acquired a new position in shares of Grayscale Bitcoin Trust ETF in the 2nd quarter valued at $6,190,000. Global Retirement Partners LLC purchased a new position in Grayscale Bitcoin Trust ETF in the 2nd quarter worth about $5,398,000. Osaic Holdings Inc. raised its holdings in Grayscale Bitcoin Trust ETF by 180.4% during the 2nd quarter. Osaic Holdings Inc. now owns 70,124 shares of the company’s stock worth $5,949,000 after buying an additional 45,112 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in Grayscale Bitcoin Trust ETF by 203.6% during the second quarter. Corient Private Wealth LLC now owns 49,653 shares of the company’s stock valued at $4,212,000 after buying an additional 33,299 shares in the last quarter.

Grayscale Bitcoin Trust ETF Price Performance

Shares of GBTC opened at $51.64 on Thursday. The company has a 50-day moving average of $65.87 and a two-hundred day moving average of $78.18. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a one year low of $48.56 and a one year high of $99.12.

Grayscale Bitcoin Trust ETF 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.