Bitwise Ethereum ETF (NYSEARCA:ETHW) Sees Significant Drop in Short Interest

Bitwise Ethereum ETF (NYSEARCA:ETHW) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 302,850 shares, a decrease of 37.0% from the May 14th total of 480,997 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 646,639 shares, the days-to-cover ratio is presently 0.5 days.

Bitwise Ethereum ETF Stock Performance

Shares of NYSEARCA ETHW opened at $11.90 on Monday. The stock’s 50-day simple moving average is $15.24 and its two-hundred day simple moving average is $17.36. Bitwise Ethereum ETF has a twelve month low of $11.03 and a twelve month high of $34.84.

Institutional Trading of Bitwise Ethereum ETF

Several institutional investors and hedge funds have recently made changes to their positions in ETHW. Jane Street Group LLC raised its position in shares of Bitwise Ethereum ETF by 2.0% during the 1st quarter. Jane Street Group LLC now owns 120,255 shares of the company’s stock valued at $1,578,000 after buying an additional 2,393 shares in the last quarter. Betterment LLC raised its position in shares of Bitwise Ethereum ETF by 103.0% during the 2nd quarter. Betterment LLC now owns 126,054 shares of the company’s stock valued at $2,277,000 after buying an additional 63,964 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new stake in shares of Bitwise Ethereum ETF during the 2nd quarter valued at $384,000. Osaic Holdings Inc. purchased a new stake in shares of Bitwise Ethereum ETF during the 2nd quarter valued at $66,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Bitwise Ethereum ETF by 33.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,355 shares of the company’s stock valued at $488,000 after buying an additional 4,056 shares in the last quarter.

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.