a16z Perennial Management L.P. Boosts Stock Position in Bitwise Bitcoin ETF $BITB

a16z Perennial Management L.P. increased its stake in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) by 216.4% in the fourth quarter, HoldingsChannel reports. The firm owned 50,502 shares of the company’s stock after buying an additional 34,541 shares during the quarter. a16z Perennial Management L.P.’s holdings in Bitwise Bitcoin ETF were worth $2,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BITB. Founders Capital Management increased its position in Bitwise Bitcoin ETF by 105.9% during the 4th quarter. Founders Capital Management now owns 700 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Bitwise Bitcoin ETF during the 4th quarter worth about $34,000. Lodestone Wealth Management LLC purchased a new stake in Bitwise Bitcoin ETF during the 4th quarter worth about $38,000. EverSource Wealth Advisors LLC boosted its stake in Bitwise Bitcoin ETF by 262.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 888 shares of the company’s stock worth $42,000 after buying an additional 643 shares during the last quarter. Finally, Caitlin John LLC acquired a new stake in Bitwise Bitcoin ETF in the 3rd quarter worth about $49,000.

Bitwise Bitcoin ETF Price Performance

Shares of NYSEARCA:BITB opened at $39.87 on Monday. The stock’s 50-day moving average price is $40.49 and its two-hundred day moving average price is $43.42. Bitwise Bitcoin ETF has a 12-month low of $33.81 and a 12-month high of $68.74.

Bitwise Bitcoin ETF Company Profile

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.