Short Interest in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) Decreases By 42.5%

Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 523,899 shares, a decrease of 42.5% from the December 15th total of 910,585 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 4,826,274 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 4,826,274 shares, the short-interest ratio is currently 0.1 days. Approximately 0.2% of the company’s stock are sold short.

Grayscale Bitcoin Trust ETF Stock Up 0.3%

Shares of NYSEARCA:GBTC traded up $0.25 on Friday, reaching $74.58. The company had a trading volume of 4,034,079 shares, compared to its average volume of 4,609,852. Grayscale Bitcoin Trust ETF has a twelve month low of $59.79 and a twelve month high of $99.12. The stock has a 50-day moving average price of $71.11 and a 200 day moving average price of $83.00. The stock has a market capitalization of $17.96 billion, a P/E ratio of 2.23 and a beta of 2.40.

Institutional Investors Weigh In On Grayscale Bitcoin Trust ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in shares of Grayscale Bitcoin Trust ETF in the third quarter valued at approximately $11,599,000. Ieq Capital LLC grew its stake in Grayscale Bitcoin Trust ETF by 400.6% in the 2nd quarter. Ieq Capital LLC now owns 113,310 shares of the company’s stock valued at $9,612,000 after buying an additional 90,675 shares during the last quarter. WESCAP Management Group Inc. bought a new position in Grayscale Bitcoin Trust ETF in the 2nd quarter worth $6,190,000. Global Retirement Partners LLC bought a new position in Grayscale Bitcoin Trust ETF in the 2nd quarter worth $5,398,000. Finally, Farther Finance Advisors LLC lifted its position in Grayscale Bitcoin Trust ETF by 275.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 68,650 shares of the company’s stock worth $5,824,000 after acquiring an additional 50,355 shares during the last quarter.

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.