Bitwise Bitcoin ETF (NYSEARCA:BITB – Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 696,257 shares, a growth of 1,473.9% from the August 15th total of 44,237 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 1,927,063 shares, the short-interest ratio is presently 0.4 days.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in BITB. Brighton Jones LLC acquired a new stake in shares of Bitwise Bitcoin ETF during the fourth quarter valued at approximately $516,000. Focus Partners Wealth boosted its stake in Bitwise Bitcoin ETF by 0.8% in the 1st quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock worth $1,318,000 after purchasing an additional 244 shares during the period. JPMorgan Chase & Co. grew its position in Bitwise Bitcoin ETF by 1,519.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 50,076 shares of the company’s stock worth $2,934,000 after purchasing an additional 46,983 shares in the last quarter. CW Advisors LLC acquired a new stake in Bitwise Bitcoin ETF during the 2nd quarter valued at $228,000. Finally, First Trust Advisors LP raised its stake in Bitwise Bitcoin ETF by 21.9% during the 2nd quarter. First Trust Advisors LP now owns 102,571 shares of the company’s stock valued at $6,010,000 after purchasing an additional 18,397 shares during the period.
Bitwise Bitcoin ETF Trading Up 0.2%
Shares of NYSEARCA BITB traded up $0.08 during mid-day trading on Friday, hitting $41.94. 1,227,337 shares of the company traded hands, compared to its average volume of 2,314,376. Bitwise Bitcoin ETF has a 1 year low of $31.49 and a 1 year high of $68.74. The business has a 50 day moving average of $37.44 and a two-hundred day moving average of $37.97.
About Bitwise Bitcoin ETF
The Bitwise Bitcoin ETF Trust (BITB) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a multi-layer cold storage wallet. BITB was launched on Jan 10, 2024 and is issued by Bitwise.
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