Scotia Capital Inc. Raises Holdings in Grayscale Bitcoin Trust (NYSEARCA:GBTC)

Scotia Capital Inc. increased its position in Grayscale Bitcoin Trust (NYSEARCA:GBTC) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,535 shares of the company’s stock after buying an additional 2,352 shares during the period. Scotia Capital Inc.’s holdings in Grayscale Bitcoin Trust were worth $1,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its position in shares of Grayscale Bitcoin Trust by 310.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 410 shares of the company’s stock valued at $30,000 after acquiring an additional 310 shares during the last quarter. Activest Wealth Management raised its stake in Grayscale Bitcoin Trust by 53.0% during the fourth quarter. Activest Wealth Management now owns 404 shares of the company’s stock valued at $30,000 after purchasing an additional 140 shares in the last quarter. Synergy Investment Management LLC bought a new position in Grayscale Bitcoin Trust during the fourth quarter valued at $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Grayscale Bitcoin Trust in the 4th quarter worth $36,000. Finally, Bear Mountain Capital Inc. grew its stake in shares of Grayscale Bitcoin Trust by 162.5% in the 4th quarter. Bear Mountain Capital Inc. now owns 525 shares of the company’s stock worth $43,000 after buying an additional 325 shares in the last quarter.

Grayscale Bitcoin Trust Trading Up 5.5 %

Shares of NYSEARCA GBTC opened at $66.27 on Friday. Grayscale Bitcoin Trust has a 12-month low of $39.56 and a 12-month high of $86.11. The firm’s 50-day moving average price is $69.14 and its 200-day moving average price is $69.23. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 2.23 and a beta of 2.56.

About Grayscale Bitcoin Trust

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.