Sound Income Strategies LLC Has $506,000 Stock Holdings in Grayscale Bitcoin Trust ETF $GBTC

Sound Income Strategies LLC increased its position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 33.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,959 shares of the company’s stock after purchasing an additional 1,496 shares during the quarter. Sound Income Strategies LLC’s holdings in Grayscale Bitcoin Trust ETF were worth $506,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GBTC. Palacios Wealth Management LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF during the first quarter valued at $65,170,000. DRW Securities LLC lifted its stake in shares of Grayscale Bitcoin Trust ETF by 849.0% during the first quarter. DRW Securities LLC now owns 370,589 shares of the company’s stock valued at $24,151,000 after acquiring an additional 331,538 shares during the period. TB Alternative Assets Ltd. lifted its stake in shares of Grayscale Bitcoin Trust ETF by 942.4% during the first quarter. TB Alternative Assets Ltd. now owns 290,203 shares of the company’s stock valued at $18,913,000 after acquiring an additional 262,362 shares during the period. SCS Capital Management LLC acquired a new position in Grayscale Bitcoin Trust ETF in the first quarter valued at about $4,950,000. Finally, Cresset Asset Management LLC lifted its stake in Grayscale Bitcoin Trust ETF by 27.0% in the first quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock valued at $19,549,000 after buying an additional 63,749 shares during the period.

Grayscale Bitcoin Trust ETF Trading Up 4.8%

NYSEARCA:GBTC opened at $89.73 on Tuesday. Grayscale Bitcoin Trust ETF has a 1-year low of $46.83 and a 1-year high of $96.62. The business’s 50-day moving average price is $90.01 and its two-hundred day moving average price is $82.26. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 2.23 and a beta of 2.47.

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.