Bitcoin News

Churchill Management Corp Increases its Ownership in Grayscale’s GBTC by 32.9%

LA-based Churchill Management disclosed ownership of 309,330 shares of Grayscale Bitcoin Trust (GBTC) in its Form 13F-HR filed with the US Securities and Exchange Commission (SEC).

This is the first 13F quarterly report, required to be filed by all institutional investors, containing Bitcoin filed in 2021.

Founded in 1963, the firm had 232,943 shares worth over $2.5 million in its previous filing in Oct. 2020. The current holdings valued at $9.89 million as of Dec. 31st represents a change of 32.79% in shares and a 287.4% change in the value during the quarter.

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During the last quarter of 2020, the price of Bitcoin surged more than 175%, and last week, it made a new ATH at $42,000. After the pullback to nearly $30k earlier this week, BTC has pushed back up to briefly touch $40,000.

Grayscale Investments, the largest crypto asset manager in the world, has $20.69 billion in assets under management in its GBTC product. Just yesterday, the fund added another 2,170 BTC.



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