WESCAP Management Group Inc. Invests $6.19 Million in Grayscale Bitcoin Trust ETF $GBTC

WESCAP Management Group Inc. acquired a new stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 72,972 shares of the company’s stock, valued at approximately $6,190,000. Grayscale Bitcoin Trust ETF makes up 1.4% of WESCAP Management Group Inc.’s portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BCS Wealth Management grew its holdings in Grayscale Bitcoin Trust ETF by 1.2% during the second quarter. BCS Wealth Management now owns 9,151 shares of the company’s stock valued at $776,000 after purchasing an additional 110 shares during the last quarter. Soltis Investment Advisors LLC lifted its stake in shares of Grayscale Bitcoin Trust ETF by 0.6% in the second quarter. Soltis Investment Advisors LLC now owns 20,088 shares of the company’s stock worth $1,704,000 after buying an additional 113 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Grayscale Bitcoin Trust ETF by 1.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 7,871 shares of the company’s stock worth $668,000 after buying an additional 118 shares during the period. Sentry LLC grew its stake in Grayscale Bitcoin Trust ETF by 3.6% in the 2nd quarter. Sentry LLC now owns 3,657 shares of the company’s stock valued at $310,000 after buying an additional 126 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC raised its holdings in Grayscale Bitcoin Trust ETF by 3.5% in the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 4,393 shares of the company’s stock worth $373,000 after acquiring an additional 150 shares during the period.

Grayscale Bitcoin Trust ETF Price Performance

GBTC stock opened at $81.30 on Friday. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40. The company has a 50-day moving average of $88.36 and a two-hundred day moving average of $86.57. Grayscale Bitcoin Trust ETF has a 52-week low of $59.79 and a 52-week 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.