Grayscale Bitcoin Trust ETF $GBTC Position Lessened by Ascension Capital Advisors Inc.

Ascension Capital Advisors Inc. lowered its stake in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 69,908 shares of the company’s stock after selling 1,589 shares during the quarter. Grayscale Bitcoin Trust ETF makes up approximately 2.5% of Ascension Capital Advisors Inc.’s holdings, making the stock its 15th largest holding. Ascension Capital Advisors Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $5,930,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GBTC. Atlantic Union Bankshares Corp bought a new stake in Grayscale Bitcoin Trust ETF in the second quarter valued at $42,000. Hurley Capital LLC acquired a new stake in shares of Grayscale Bitcoin Trust ETF in the 1st quarter worth about $34,000. First Horizon Advisors Inc. lifted its position in Grayscale Bitcoin Trust ETF by 36.9% in 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 Grayscale Bitcoin Trust ETF in the 1st quarter valued at about $39,000. Finally, Atticus Wealth Management LLC boosted its stake in Grayscale Bitcoin Trust ETF by 57.3% during the 2nd quarter. Atticus Wealth Management LLC now owns 1,098 shares of the company’s stock valued at $93,000 after purchasing an additional 400 shares during the period.

Grayscale Bitcoin Trust ETF Trading Up 2.9%

NYSEARCA GBTC opened at $81.30 on Monday. The company has a 50-day moving average price of $88.36 and a two-hundred day moving average price of $86.76. Grayscale Bitcoin Trust ETF has a 52 week low of $59.79 and a 52 week high of $99.12. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 2.23 and a beta of 2.40.

About Grayscale Bitcoin Trust ETF

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.