Elevate Capital Advisors LLC Acquires Shares of iShares Bitcoin Trust

Elevate Capital Advisors LLC has taken a significant step by purchasing a new position in the iShares Bitcoin Trust (NASDAQ:IBIT - Free Report) during the fourth quarter. This move is detailed in their recent filing with the Securities and Exchange Commission. The institutional investor acquired a total of 32,025 shares of the company's stock, which is valued at approximately $1,699,000. The iShares Bitcoin Trust now represents about 1.5% of Elevate Capital Advisors LLC's overall investment portfolio, positioning it as the 25th largest holding in their lineup.

In addition to Elevate Capital Advisors, several other institutional investors have also adjusted their portfolios regarding iShares Bitcoin Trust. For instance, Union Savings Bank made a new investment in IBIT during the fourth quarter, worth about $25,000. Meanwhile, City Holding Co. increased its holdings by 95.2% during the same period, now owning 488 shares valued at $26,000 after acquiring an additional 238 shares. Similarly, Stephens Consulting LLC raised its stake by 62.8%, ending up with 490 shares worth $26,000 after adding 189 shares. Furthermore, Crewe Advisors LLC expanded its investment in the trust by 151.0%, now owning 502 shares valued at $27,000 after purchasing an extra 302 shares. Lastly, PSI Advisors LLC entered a new position in the iShares Bitcoin Trust in the fourth quarter, valued at $30,000.

iShares Bitcoin Trust Price Performance

As of Monday, the stock price of iShares Bitcoin Trust opened at $54.47. The company has a fifty-day simple moving average of $56.35 and a two-hundred day simple moving average of $44.86. Throughout the past year, the iShares Bitcoin Trust has experienced a low of $25.64 and a high of $61.75.

About iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund designed primarily to invest in long bitcoin positions while shorting the USD currency. Being a passively managed fund, IBIT aims to track the spot price of Bitcoin. The trust was launched on January 5, 2024, and is issued by BlackRock.

Considerations for Investors

Before making any investment decisions, it is wise to consider various factors and trends related to investments in iShares Bitcoin Trust. As always, investors should perform thorough research and weigh their options accordingly.

investment, bitcoin, trust