Deltec Asset Management LLC Reduces Stake in iShares Bitcoin Trust

Deltec Asset Management LLC has decreased its investment in the iShares Bitcoin Trust (NASDAQ: IBIT) by 6.9% during the third quarter, as noted in its latest filing with the Securities and Exchange Commission (SEC). Following the sale of 17,875 shares, the fund now holds a total of 242,775 shares of the company.

The iShares Bitcoin Trust constitutes approximately 1.7% of Deltec Asset Management LLC's overall portfolio, positioning it as the 17th largest holding for the fund. As of the most recent filing, the value of Deltec Asset Management's shares in the iShares Bitcoin Trust is estimated at $8,771,000.

Investments and Stake Activity

Several other major investors have also made adjustments to their positions in the iShares Bitcoin Trust. Wealth Enhancement Advisory Services LLC has initiated a new investment in the first quarter, acquiring shares valued at $3,416,000. Similarly, Naviter Wealth LLC purchased shares worth about $257,000, while Financial Sense Advisors Inc. acquired a stake valued at approximately $1,278,000 during the same quarter. Accel Wealth Management also engaged in a new buy, investing roughly $467,000, and North Star Investment Management Corp. made a modest purchase valued at about $77,000.

iShares Bitcoin Trust Performance Overview

As of Wednesday, shares of the iShares Bitcoin Trust opened at $41.33. The stock has experienced a 12-month low of $22.02 and a 12-month high of $41.99. Additionally, the fund's 50-day moving average is currently $35.54, with its 200-day moving average at $35.97.

About iShares Bitcoin Trust

The iShares Bitcoin Trust (IBIT) is an exchange-traded fund (ETF) that primarily invests in Bitcoin while taking a short position in USD currency. This passively managed fund aims to mirror the spot price of Bitcoin. Launched on January 5, 2024, the fund is issued by BlackRock.

Investment Considerations

Before making an investment in the iShares Bitcoin Trust, potential investors should consider the current market ratings. While the stock holds a "hold" recommendation among analysts, there are indications that several alternative stocks may present superior investment opportunities.

Investors are encouraged to conduct thorough research and analysis before making any investment decisions in the cryptocurrency and ETF spaces.

Deltec, iShares, Bitcoin