Bitwise Ethereum ETF (NYSEARCA:ETHW) Stock Price Up 0.6% – What’s Next?

Bitwise Ethereum ETF (NYSEARCA:ETHW) shares were up 0.6% during mid-day trading on Thursday . The stock traded as high as $12.57 and last traded at $12.51. Approximately 436,489 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,276,292 shares. The stock had previously closed at $12.44.

Bitwise Ethereum ETF Trading Up 0.6%

The firm has a 50-day simple moving average of $13.67 and a two-hundred day simple moving average of $16.07.

Hedge Funds Weigh In On Bitwise Ethereum ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Capital Management LLC acquired a new position in Bitwise Ethereum ETF in the 2nd quarter valued at $191,000. Archer Investment Management LLC acquired a new stake in shares of Bitwise Ethereum ETF during the 2nd quarter worth $229,000. Keel Point LLC increased its position in shares of Bitwise Ethereum ETF by 82.7% in the first quarter. Keel Point LLC now owns 37,659 shares of the company’s stock worth $565,000 after purchasing an additional 17,041 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Bitwise Ethereum ETF by 81.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,164 shares of the company’s stock worth $32,000 after purchasing an additional 970 shares during the period. Finally, Lido Advisors LLC bought a new position in shares of Bitwise Ethereum ETF in the first quarter worth $1,070,000.

About Bitwise Ethereum ETF

The Bitwise Ethereum ETF (ETHW) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.