Shares of Grayscale Bitcoin Trust ETF ( NYSEARCA: GBTC ) were on track to snap six straight days of losses, as the stock rose more than 1.62% to $77.08 in Monday afternoon trade. The cryptocurrency ETF lost more than 5.6% in the last six trading sessions. The stock has gained more than 4% so far this year, outperforming the broader S&P 500 Index. GBTC is up 4% over the past one month. The stock closed 1.21% lower, at $75.85 on Friday. The six straight days of losses were sparked by a risk-off sentiment which took over last week after U.S. President Donald Trump started a trade war with Canada, Mexico and China by unveiling fresh tariffs against them. Despite being widely expected, the tariffs still caused a global market selloff , as traders moved to trim exposure to risky assets. Hedge fund Elliott also warned investors in a letter recently that President Trump is inflating a crypto bubble that could cause havoc when it busts. Trump’s extraordinary embrace of cryptocurrencies could fuel a speculative mania that would cause havoc when crypto prices collapse, the letter said. The hedge fund said that they see an inevitable collapse of the cryptocurrency bubble that “could wreak havoc in ways we cannot yet anticipate.” Seeking Alpha’s Quant rating has rated the ETF a S TRONG BUY, with a score of 4.70. SA analysts see the stock as a HOLD . More on Grayscale Bitcoin Trust ETF Grayscale Investments Talks Crypto ETFs BTC, ETH, GBTC And ETHE Mini Trust Bitcoin ETFs Showdown: Reassessing GBTC One Year After Its ETF Conversion GBTC: Was That The Top? Grayscale Bitcoin Trust ETF continues gains for seven straight sessions, as bitcoin soars Seeking Alpha’s Quant Rating on Grayscale Bitcoin Trust ETF ETF
