Summit Asset Management LLC Purchases Shares of 2,725 Grayscale Bitcoin Trust ETF $GBTC

Summit Asset Management LLC acquired a new position in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,725 shares of the company’s stock, valued at approximately $231,000.

Several other large investors have also modified their holdings of GBTC. Concurrent Investment Advisors LLC raised its stake in Grayscale Bitcoin Trust ETF by 38.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,263 shares of the company’s stock worth $343,000 after acquiring an additional 1,455 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in Grayscale Bitcoin Trust ETF by 11.0% in the first quarter. Stratos Wealth Advisors LLC now owns 4,226 shares of the company’s stock valued at $275,000 after acquiring an additional 418 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Grayscale Bitcoin Trust ETF by 27.6% during the first quarter. Stratos Wealth Partners LTD. now owns 25,019 shares of the company’s stock worth $1,630,000 after purchasing an additional 5,405 shares during the last quarter. Leavell Investment Management Inc. increased its position in shares of Grayscale Bitcoin Trust ETF by 51.5% during the first quarter. Leavell Investment Management Inc. now owns 5,150 shares of the company’s stock worth $336,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Grayscale Bitcoin Trust ETF by 5.5% in the 1st quarter. Allworth Financial LP now owns 5,175 shares of the company’s stock valued at $337,000 after purchasing an additional 268 shares during the last quarter.

Grayscale Bitcoin Trust ETF Stock Up 2.9%

Shares of NYSEARCA GBTC opened at $81.30 on Friday. The business has a 50-day moving average price of $88.36 and a 200 day moving average price of $86.67. The stock has a market cap of $19.57 billion, a PE ratio of 2.23 and a beta of 2.40. Grayscale Bitcoin Trust ETF has a 52-week low of $59.79 and a 52-week high of $99.12.

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.