Aprio Wealth Management LLC Invests $1.16 Million in iShares Bitcoin Trust

Aprio Wealth Management LLC has recently made significant moves in the investment landscape by acquiring a new position in the iShares Bitcoin Trust (NASDAQ:IBIT) during the fourth quarter. This information comes from the firm’s latest 13F filing with the Securities and Exchange Commission (SEC). They purchased 21,854 shares of the trust’s stock, which have an approximate value of $1,159,000.

Several other hedge funds have also altered their positions in iShares Bitcoin Trust. For example, Glass Jacobson Investment Advisors LLC initiated a new stake in the trust during the second quarter, valued around $26,000. Meanwhile, Asset Dedication LLC increased its ownership by an impressive 52.4% in the third quarter, now holding 811 shares worth about $29,000 after acquiring an additional 279 shares.

West Financial Advisors LLC also established a new position in the trust during the third quarter, with a value of around $40,000. In a similar move, Brown Brothers Harriman & Co. acquired shares valued at approximately $43,000 during the second quarter. Hollencrest Capital Management raised its stake in the iShares Bitcoin Trust by 256.7%, owning now 1,327 shares valued at about $45,000 after acquiring an extra 955 shares.

Recent Performance of iShares Bitcoin Trust

The current stock price of iShares Bitcoin Trust opened at $53.84 this past Monday. It’s noteworthy that the trust features a 50-day simple moving average of $53.42, alongside a 200-day average of $41.76. Over the past year, the stock hit a low of $22.02 and climbed to a high of $61.75.

About iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund that primarily invests in long positions in Bitcoin while taking short positions in US dollars. This ETF is passively managed and aims to mirror the spot price of Bitcoin. It was launched on January 5, 2024, by BlackRock, a significant player in the investment management industry.

Conclusion and Further Insights

With various hedge funds adjusting their stakes and Aprio Wealth Management setting a notable investment, interest in iShares Bitcoin Trust continues to grow. Investors considering whether to invest in Bitcoin-related assets should keep an eye on its performance and broader market trends.

investment, Bitcoin, trust