Northwestern Mutual Wealth Management Co. Has $86,000 Stock Position in Grayscale Bitcoin Trust ETF $GBTC

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Grayscale Bitcoin Trust ETF (NYSEARCA:GBTC) by 34.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,318 shares of the company’s stock after purchasing an additional 341 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Grayscale Bitcoin Trust ETF were worth $86,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Palacios Wealth Management LLC acquired a new stake in Grayscale Bitcoin Trust ETF during the first quarter worth approximately $65,170,000. Leigh Baldwin & CO. LLC acquired a new stake in Grayscale Bitcoin Trust ETF during the fourth quarter worth approximately $34,353,000. Cresset Asset Management LLC grew its stake in Grayscale Bitcoin Trust ETF by 27.0% during the first quarter. Cresset Asset Management LLC now owns 299,976 shares of the company’s stock worth $19,549,000 after purchasing an additional 63,749 shares during the period. TB Alternative Assets Ltd. grew its stake in Grayscale Bitcoin Trust ETF by 942.4% during the first quarter. TB Alternative Assets Ltd. now owns 290,203 shares of the company’s stock worth $18,913,000 after purchasing an additional 262,362 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its stake in Grayscale Bitcoin Trust ETF by 0.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 287,024 shares of the company’s stock worth $18,707,000 after purchasing an additional 1,957 shares during the period.

Grayscale Bitcoin Trust ETF Price Performance

NYSEARCA GBTC opened at $87.66 on Friday. The business has a 50 day simple moving average of $89.96 and a 200 day simple moving average of $79.85. Grayscale Bitcoin Trust ETF has a one year low of $42.37 and a one year high of $96.62. The stock has a market capitalization of $21.10 billion, a P/E ratio of 2.23 and a beta of 2.47.

Grayscale Bitcoin Trust ETF 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.