Forte Asset Management LLC Reduces iShares Bitcoin Trust Holdings

Forte Asset Management LLC has reduced its stake in the iShares Bitcoin Trust (NASDAQ: IBIT - Free Report) by 17.4% during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission. After the reduction, the institutional investor now holds 74,053 shares of the Bitcoin Trust, having sold 15,652 shares during this period. This adjustment means that iShares Bitcoin Trust represents approximately 2.1% of Forte Asset Management LLC’s total holdings, making it their 18th largest investment. As of the end of the last quarter, the value of their holdings in iShares Bitcoin Trust amounted to $3,929,000.

Other prominent investors have also made changes to their positions in IBIT recently. IMC Chicago LLC, for instance, entered the iShares Bitcoin Trust market in the third quarter with a new investment valued at $323,337,000. Similarly, Clear Street Derivatives LLC acquired a new position valued at $23,686,000 during the same quarter. CloudAlpha Capital Management Limited Hong Kong also took a stake in iShares Bitcoin Trust worth $19,149,000 in the third quarter. Notably, LMR Partners LLP significantly increased its holdings in the Trust by 350% during that quarter, owning 630,000 shares valued at $22,762,000 after acquiring an additional 490,000 shares. Furthermore, Verde Servicos Internacionais S.A. remarkably expanded its position by 3,525.8% in the fourth quarter, holding a total of 435,100 shares valued at $23,082,000 after purchasing an additional 423,100 shares.

Current Status of iShares Bitcoin Trust

As of recent trading, shares of iShares Bitcoin Trust opened at $57.85. Over the past year, the Trust has experienced a low of $23.88 and a high of $61.75. Its fifty-day simple moving average stands at $55.77, while the 200-day moving average is slightly lower at $43.45.

Overview of iShares Bitcoin Trust

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

For anyone considering investing in iShares Bitcoin Trust, it may be prudent to be aware of the broader market and potential opportunities that other analysts may be suggesting. Currently, iShares Bitcoin Trust carries a "Hold" rating among investment analysts, who highlight that there are several stocks viewed as more favorable investment choices at this time. Exploring alternative stocks could provide more attractive investment opportunities depending on market conditions.

iShares, Bitcoin, Forte