ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE – Get Free Report) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 74 shares, a drop of 97.3% from the July 15th total of 2,716 shares. Based on an average daily trading volume, of 3,098 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.
ProShares Bitcoin & Ether Equal Weight ETF Trading Up 0.3%
Shares of NYSEARCA BETE traded up $0.09 during midday trading on Wednesday, hitting $30.30. The company’s stock had a trading volume of 2,339 shares, compared to its average volume of 4,588. ProShares Bitcoin & Ether Equal Weight ETF has a 1-year low of $26.53 and a 1-year high of $94.32. The firm’s fifty day moving average price is $29.49 and its 200-day moving average price is $33.54.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BETE. Jane Street Group LLC acquired a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the second quarter worth $295,000. Flow Traders U.S. LLC acquired a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the third quarter valued at $328,000. Finally, Mariner LLC bought a new position in shares of ProShares Bitcoin & Ether Equal Weight ETF during the third quarter worth about $282,000.
About ProShares Bitcoin & Ether Equal Weight ETF
The ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is an exchange-traded fund that mostly invests in long cryptocurrency basket, short usd currency. The fund actively manages an equally weighted portfolio of front-month CME Bitcoin and Ether futures contracts. It does not invest directly in bitcoin or ether. BETE was launched on Oct 2, 2023 and is issued by ProShares.
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