Van Hulzen Asset Management LLC has decreased its holdings in the Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 5.4% during the second quarter, as reported by HoldingsChannel. The institutional investor now owns 79,622 shares after selling 4,579 shares throughout the quarter.
As of the end of the latest reporting period, Van Hulzen Asset Management”s stake in the Grayscale Bitcoin Trust ETF was valued at approximately $6,754,000. This decision follows a trend among various hedge funds modifying their investments in the cryptocurrency sector.
In contrast, Arkadios Wealth Advisors has increased its investment in the Grayscale Bitcoin Trust ETF by a notable 57.9% during the first quarter. Following this acquisition, Arkadios now holds 5,231 shares valued at $341,000, having added 1,918 shares recently.
Similarly, US Bancorp DE expanded its stake in the Grayscale Bitcoin Trust ETF by 5.6% during the first quarter. The firm now owns 50,715 shares worth $3,305,000 after purchasing an additional 2,699 shares in the last quarter.
Commonwealth Equity Services LLC also reported a 3.1% increase in its holdings, bringing its total to 256,572 shares valued at $16,721,000 after acquiring 7,752 additional shares. Another firm, IPG Investment Advisors LLC, raised its position by 26.8%, amassing 6,211 shares worth $405,000.
Finally, Cary Street Partners Financial LLC increased its stake by 1.7%, now holding 14,364 shares valued at $936,000 after buying an additional 236 shares.
As of Tuesday, shares of the Grayscale Bitcoin Trust ETF opened at $66.92, reflecting a decline of 5.8%. The fund boasts a market capitalization of $16.11 billion, with a price-to-earnings ratio of 2.23 and a beta of 2.40. It has seen a 50-day moving average of $83.04 and a 200-day moving average of $86.19, with a 12-month low of $59.79 and a high of $99.12.
The Grayscale Bitcoin Trust (GBTC) primarily invests in long bitcoin positions while shorting USD currency. It is passively managed to provide exposure to the daily USD spot price of bitcoin (BTC). Notably, an investment in GBTC does not equate to a direct investment in bitcoin itself. The fund was launched on January 11, 2024, and is issued by Grayscale.
For additional insights on hedge fund holdings in the Grayscale Bitcoin Trust ETF, visit HoldingsChannel.com. There, you can access the latest 13F filings and insider trades related to the ETF.
