J.W. Cole Advisors Inc. Increases Stake in Grayscale Bitcoin Trust ETF $GBTC

J.W. Cole Advisors Inc. grew its position in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 35.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,657 shares of the company’s stock after buying an additional 2,774 shares during the period. J.W. Cole Advisors Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GBTC. Atlantic Union Bankshares Corp bought a new stake in shares of Grayscale Bitcoin Trust ETF during the second quarter valued at approximately $42,000. Hurley Capital LLC bought a new position in Grayscale Bitcoin Trust ETF in the 1st quarter valued at approximately $34,000. First Horizon Advisors Inc. boosted its stake in Grayscale Bitcoin Trust ETF by 36.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 155 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Grayscale Bitcoin Trust ETF in the 1st quarter worth $39,000. Finally, MTM Investment Management LLC purchased a new position in shares of Grayscale Bitcoin Trust ETF in the second quarter worth $89,000.

Grayscale Bitcoin Trust ETF Price Performance

Shares of NYSEARCA:GBTC opened at $80.47 on Wednesday. Grayscale Bitcoin Trust ETF has a 1 year low of $59.79 and a 1 year high of $99.12. The company has a market cap of $19.37 billion, a P/E ratio of 2.23 and a beta of 2.40. The stock’s fifty day moving average price is $88.19 and its 200-day moving average price is $86.86.

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.