Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) Sees Large Increase in Short Interest

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 6,536 shares, an increase of 2,681.3% from the September 30th total of 235 shares. Based on an average daily volume of 29,519 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Bitwise 10 Crypto Index ETF

Institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC lifted its holdings in Bitwise 10 Crypto Index ETF by 155.1% during the 1st quarter. Sound Income Strategies LLC now owns 597 shares of the ETF’s stock worth $27,000 after buying an additional 363 shares in the last quarter. Ascentis Independent Advisors bought a new position in shares of Bitwise 10 Crypto Index ETF during the first quarter worth $32,000. PNC Financial Services Group Inc. grew its stake in Bitwise 10 Crypto Index ETF by 23.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,593 shares of the ETF’s stock valued at $116,000 after acquiring an additional 491 shares during the period. Rose Capital Advisors LLC acquired a new position in shares of Bitwise 10 Crypto Index ETF in the 2nd quarter valued at approximately $219,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Bitwise 10 Crypto Index ETF during the third quarter worth $230,000.

Bitwise 10 Crypto Index ETF Price Performance

Shares of NYSEARCA:BITW traded down $1.03 during trading on Monday, hitting $51.26. 23,909 shares of the stock were exchanged, compared to its average volume of 73,666. Bitwise 10 Crypto Index ETF has a 1-year low of $37.20 and a 1-year high of $79.49. The company’s fifty day simple moving average is $51.95 and its 200-day simple moving average is $47.00.

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) is an exchange-traded fund that provides investors with diversified exposure to major digital assets through a single, U.S.-listed security. The fund is managed by Bitwise Asset Management, a firm that specializes in cryptocurrency index products and investment solutions. BITW is designed to reflect the performance of a rules-based index composed of leading cryptocurrencies, offering a convenient way for investors to gain broad crypto market exposure without directly holding private keys or managing multiple wallets.

The fund’s underlying index targets the largest, investable cryptocurrencies and applies an objective methodology to select and weight constituents, with periodic rebalancing to reflect changes in the market.