Bitwise Bitcoin ETF (NYSEARCA:BITB) Sees Large Growth in Short Interest

Bitwise Bitcoin ETF (NYSEARCA:BITB) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 143,002 shares, a growth of 254.8% from the May 31st total of 40,308 shares. Based on an average trading volume of 2,327,613 shares, the short-interest ratio is presently 0.1 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Several hedge funds have recently added to or reduced their stakes in BITB. Parallel Advisors LLC boosted its holdings in shares of Bitwise Bitcoin ETF by 5.4% in the 1st quarter. Parallel Advisors LLC now owns 5,905 shares of the company’s stock worth $217,000 after purchasing an additional 303 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Bitwise Bitcoin ETF by 585,500.0% during the 1st quarter. NewEdge Advisors LLC now owns 17,568 shares of the company’s stock valued at $647,000 after buying an additional 17,565 shares in the last quarter. Keel Point LLC lifted its position in Bitwise Bitcoin ETF by 56.7% in the 1st quarter. Keel Point LLC now owns 26,415 shares of the company’s stock worth $972,000 after buying an additional 9,560 shares during the last quarter. Bank of America Corp DE lifted its position in Bitwise Bitcoin ETF by 134.2% in the 1st quarter. Bank of America Corp DE now owns 216,907 shares of the company’s stock worth $7,984,000 after buying an additional 124,299 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Bitwise Bitcoin ETF by 39.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,238 shares of the company’s stock worth $46,000 after buying an additional 350 shares during the last quarter.

Bitwise Bitcoin ETF Trading Up 0.8%

Shares of NYSEARCA:BITB opened at $32.37 on Friday. Bitwise Bitcoin ETF has a 52-week low of $31.49 and a 52-week high of $68.74. The firm has a fifty day moving average of $39.07 and a 200 day moving average of $41.32.

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.