CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) Trading 0% Higher – Time to Buy?

Shares of CoinShares Valkyrie Bitcoin Fund (NASDAQ:BRRR) were up 0% during mid-day trading on Wednesday . The stock traded as high as $21.81 and last traded at $21.80. 21,254 shares changed hands during trading, a decline of 92% from the average daily volume of 258,954 shares. The stock had previously closed at $21.79.

CoinShares Valkyrie Bitcoin Fund Stock Down 3.1%

The firm’s 50 day moving average is $18.83 and its two-hundred day moving average is $19.60.

Institutional Trading of CoinShares Valkyrie Bitcoin Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in shares of CoinShares Valkyrie Bitcoin Fund by 236.3% in the 2nd quarter. Jane Street Group LLC now owns 238,337 shares of the company’s stock valued at $7,262,000 after buying an additional 167,477 shares during the period. IMC Chicago LLC bought a new position in CoinShares Valkyrie Bitcoin Fund in the first quarter worth approximately $422,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in CoinShares Valkyrie Bitcoin Fund by 44.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 19,656 shares of the company’s stock valued at $376,000 after acquiring an additional 6,044 shares during the period. Meitav Investment House Ltd. increased its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 45.1% during the first quarter. Meitav Investment House Ltd. now owns 167,112 shares of the company’s stock valued at $3,197,000 after acquiring an additional 51,953 shares in the last quarter. Finally, Keebeck Wealth Management increased its holdings in shares of CoinShares Valkyrie Bitcoin Fund by 112.1% during the third quarter. Keebeck Wealth Management now owns 64,150 shares of the company’s stock valued at $2,074,000 after acquiring an additional 33,900 shares in the last quarter.

CoinShares Valkyrie Bitcoin Fund Company Profile

The Valkyrie Bitcoin Fund (BRRR) 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 cold storage wallet. BRRR was launched on Jan 10, 2024 and is issued by Valkyrie.