Short Interest in Bitwise Solana Staking ETF (NYSEARCA:BSOL) Drops By 53.5%

Bitwise Solana Staking ETF (NYSEARCA:BSOL) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 189,907 shares, a decline of 53.5% from the May 14th total of 408,047 shares. Based on an average daily volume of 1,991,346 shares, the short-interest ratio is currently 0.1 days. Approximately 0.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Militia Capital Management LLC bought a new position in Bitwise Solana Staking ETF in the 1st quarter worth approximately $480,000. Keel Point LLC raised its position in shares of Bitwise Solana Staking ETF by 17.5% during the 1st quarter. Keel Point LLC now owns 25,695 shares of the ETF’s stock valued at $284,000 after acquiring an additional 3,823 shares during the last quarter. Cardiff Park Advisors LLC raised its position in shares of Bitwise Solana Staking ETF by 83.6% during the 1st quarter. Cardiff Park Advisors LLC now owns 20,000 shares of the ETF’s stock valued at $221,000 after acquiring an additional 9,108 shares during the last quarter. Trustees of Dartmouth College bought a new stake in shares of Bitwise Solana Staking ETF during the 1st quarter valued at $3,368,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Bitwise Solana Staking ETF by 228.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,800 shares of the ETF’s stock valued at $42,000 after acquiring an additional 2,644 shares during the last quarter.

Bitwise Solana Staking ETF Price Performance

BSOL stock traded up $1.14 during trading on Monday, hitting $10.19. The company had a trading volume of 2,699,352 shares, compared to its average volume of 2,273,302. The company has a 50-day simple moving average of $11.12. Bitwise Solana Staking ETF has a 12 month low of $8.32 and a 12 month high of $26.60.

Bitwise Solana Staking ETF (NYSEARCA: BSOL) is an exchange-traded fund listed on the NYSE Arca that is offered by Bitwise Asset Management. The fund is designed to provide investors with targeted exposure to the Solana blockchain ecosystem by combining ownership of the SOL token with efforts to capture staking rewards associated with Proof-of-Stake validation on the Solana network. As an ETF, BSOL offers a single, regulated vehicle to pursue that exposure within brokerage accounts.

BSOL’s investment approach centers on holding SOL and pursuing mechanisms to accrue staking income, which may involve validating or delegating tokens to network validators or using custodial staking services.