Walkner Condon Financial Advisors LLC Invests in iShares Bitcoin Trust

Walkner Condon Financial Advisors LLC recently disclosed its acquisition of shares in iShares Bitcoin Trust (NASDAQ:IBIT) in its latest filing with the Securities and Exchange Commission. In the third quarter, the firm purchased 12,298 shares of IBIT, representing an investment valued at approximately $444,000.

Additionally, several other institutional investors have also made significant moves regarding iShares Bitcoin Trust shares. For instance, IMC Chicago LLC acquired a new stake valued at $323,337,000 in the third quarter. Aristeia Capital L.L.C. increased its holdings in iShares Bitcoin Trust by 47.2% during the second quarter, acquiring a total of 5,940,411 shares valued at $202,806,000 after purchasing an additional 1,903,644 shares.

Sculptor Capital LP also significantly raised its position in iShares Bitcoin Trust by 188.1% in the second quarter, bringing its total ownership to 3,392,812 shares worth $115,831,000 after acquiring an extra 2,215,107 shares. Furthermore, D. E. Shaw & Co. Inc. boosted its investment by a staggering 1,657.7% during the same quarter, now holding 2,636,608 shares valued at $90,014,000 after purchasing 2,486,608 more shares. Additionally, Bracebridge Capital LLC made a new purchase in the first quarter valued at around $100,639,000.

iShares Bitcoin Trust Performance

As for its market performance, NASDAQ IBIT opened at $43.60 on a recent trading day. The fund's 50-day simple moving average stands at $36.34 while the 200-day simple moving average is slightly lower at $36.20. Over the past year, iShares Bitcoin Trust has seen a 52-week low of $22.02 and a high of $43.84.

Fund Overview

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund (ETF) managed by BlackRock. Launched on January 5, 2024, this fund primarily invests in long positions in Bitcoin, while shorting the US dollar. It is designed as a passively managed fund that aims to track the spot price of Bitcoin.

Investment Considerations

Before considering an investment in iShares Bitcoin Trust, it's important to note that analysts currently rate it as a "Hold". They believe there are other stocks that may offer more promising investment opportunities. It is recommended for potential investors to review analyst ratings and research before making investment decisions.

investment, shares, crypto