CreativeOne Wealth LLC has made a substantial move by enhancing its stake in the Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 65% during the second quarter, as revealed in its latest SEC filing. The firm now possesses 11,094 shares after acquiring an additional 4,369 shares in this reporting period.
As of the end of the last quarter, CreativeOne”s holdings in the Grayscale Bitcoin Trust ETF were valued at approximately $941,000. This increase in ownership aligns with a broader trend among institutional investors who are increasingly interested in cryptocurrency-related assets.
Other notable investors have also shown significant interest in the Grayscale Bitcoin Trust ETF. Palacios Wealth Management LLC entered the scene by purchasing a new stake valued at $65,170,000 in the first quarter. Additionally, DRW Securities LLC ramped up its investments by an impressive 849%, now holding 370,589 shares worth $24,151,000 after adding 331,538 shares in the last quarter.
Moreover, Cresset Asset Management LLC expanded its share count by 27% to hold 299,976 shares valued at $19,549,000, while Commonwealth Equity Services LLC raised its stake by 3.1%, giving it ownership of 256,572 shares worth $16,721,000 following a purchase of 7,752 shares. Finally, Fiduciary Alliance LLC increased its holdings by 15.7% during the second quarter, now owning 128,807 shares valued at $10,927,000.
In terms of market performance, the Grayscale Bitcoin Trust ETF opened at $70.38 on Friday, boasting a market capitalization of $16.94 billion. The trust maintains a price-to-earnings ratio of 2.23 and a beta of 2.40, indicating significant volatility. The fund”s 50-day moving average stands at $83.85, while its two-hundred day moving average is $86.30. Over the past year, the ETF has seen a low of $59.79 and a high of $99.12, reflecting the dynamic nature of the cryptocurrency market.
The Grayscale Bitcoin Trust serves as a vehicle for investors looking to gain exposure to the daily USD spot price of bitcoin (BTC) without making a direct investment in the cryptocurrency itself. Launched on January 11, 2024, it is passively managed by Grayscale.
For those interested in tracking more institutional movements within the Grayscale Bitcoin Trust ETF, resources like HoldingsChannel.com provide insights into the latest 13F filings and insider trading activities.
