Cibc World Market Inc. Has $565,000 Position in Grayscale Bitcoin Trust ETF $GBTC

Cibc World Market Inc. lessened its stake in Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 65.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,296 shares of the company’s stock after selling 11,684 shares during the quarter. Cibc World Market Inc.’s holdings in Grayscale Bitcoin Trust ETF were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Grayscale Bitcoin Trust ETF during the first quarter worth $218,000. CWM LLC increased its position in Grayscale Bitcoin Trust ETF by 19.9% in the 2nd quarter. CWM LLC now owns 5,769 shares of the company’s stock worth $489,000 after purchasing an additional 957 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Grayscale Bitcoin Trust ETF by 3.4% in the 2nd quarter. International Assets Investment Management LLC now owns 5,220 shares of the company’s stock valued at $443,000 after buying an additional 170 shares in the last quarter. Sentry LLC grew its stake in shares of Grayscale Bitcoin Trust ETF by 3.6% in the 2nd quarter. Sentry LLC now owns 3,657 shares of the company’s stock valued at $310,000 after buying an additional 126 shares in the last quarter. Finally, Paragon Financial Partners Inc. acquired a new position in Grayscale Bitcoin Trust ETF in the second quarter worth approximately $230,000.

Grayscale Bitcoin Trust ETF Stock Performance

Shares of GBTC opened at $51.64 on Thursday. The firm has a market cap of $12.43 billion, a PE ratio of 2.23 and a beta of 2.40. The firm’s 50 day moving average price is $65.87 and its 200 day moving average price is $78.18. Grayscale Bitcoin Trust ETF has a twelve month low of $48.56 and a twelve month high of $99.12.

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.