Bitcoin ETF (GBTC) Hits New 52-Week High

Zacks

18 Dec 2024

For investors seeking momentum, Grayscale Bitcoin Trust ETF GBTC is probably on the radar. The fund just hit a 52-week high and soared 149.5% from its 52-week low of $33.95 per share.

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

GBTC in Focus

Grayscale Bitcoin Trust is the first Bitcoin ETF that enabled investors to gain exposure to Bitcoin in the form of security while avoiding the challenges of buying, storing and safekeeping Bitcoin directly. It owns and passively holds actual Bitcoins through its Custodian, Coinbase Custody. Grayscale Bitcoin Trust is a cheaper version of Bitcoin, charging 1.50% in annual fees from investors (see: all the Cryptocurrency ETFs here).

Why the Move?

Bitcoin has been an area to watch lately, given the rise in cryptocurrency. The rally in the world's largest cryptocurrency is showing no signs of slowdown since Donald Trump’s victory in the presidential election spurred excitement about the digital currency. Bitcoin reached a new all-time high of $108,000 on purchases of $1.5 billion last week by MicroStrategy MSTR.

More Gains Ahead?

GBTC might remain strong, given its weighted alpha of 133.81 and lower 20-day volatility of 48.4%. There is still some promise for investors who want to ride on this surging ETF.

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Click to get this free report</p>\n<p>MicroStrategy Incorporated (MSTR) : Free Stock Analysis Report</p>\n<p>To read this article on Zacks.com click here.</p>\n<p>Zacks Investment Research</p></body></html>","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin ETF (GBTC) Hits New 52-Week High</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin ETF (GBTC) Hits New 52-Week High\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-18 22:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bitcoin-etf-gbtc-hits-52-141900247.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For investors seeking momentum, Grayscale Bitcoin Trust ETF GBTC is probably on the radar. The fund just hit a 52-week high and soared 149.5% from its 52-week low of $33.95 per share.Are more gains in...</p>\n\n<a href=\"https://finance.yahoo.com/news/bitcoin-etf-gbtc-hits-52-141900247.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BITB","symbol_name":"Bitwise Bitcoin ETF","start_time":0,"source_url":"https://finance.yahoo.com/news/bitcoin-etf-gbtc-hits-52-141900247.html","article_id":"2492802471","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/OjoHPclghY7ujvbUfs1fjw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/e13e6d773de1d6d4f8fa7a562e06b1e4"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492802471","pubTimestamp":1734531540,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"For investors seeking momentum, Grayscale Bitcoin Trust ETF GBTC is probably on the radar. 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The fund just hit a 52-week high and soared 149.5% from its 52-week low of $33.95 per share.Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:\nGBTC in Focus\nGrayscale Bitcoin Trust is the first Bitcoin ETF that enabled investors to gain exposure to Bitcoin in the form of security while avoiding the challenges of buying, storing and safekeeping Bitcoin directly. It owns and passively holds actual Bitcoins through its Custodian, Coinbase Custody. Grayscale Bitcoin Trust is a cheaper version of Bitcoin, charging 1.50% in annual fees from investors (see: all the Cryptocurrency ETFs here).\nWhy the Move?\nBitcoin has been an area to watch lately, given the rise in cryptocurrency. The rally in the world's largest cryptocurrency is showing no signs of slowdown since Donald Trump’s victory in the presidential election spurred excitement about the digital currency. Bitcoin reached a new all-time high of $108,000 on purchases of $1.5 billion last week by MicroStrategy MSTR.\nMore Gains Ahead?\nGBTC might remain strong, given its weighted alpha of 133.81 and lower 20-day volatility of 48.4%. There is still some promise for investors who want to ride on this surging ETF.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nMicroStrategy Incorporated (MSTR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0}}}

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