Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Up 1.4% – Here’s Why

Bitwise Bitcoin ETF (NYSEARCA:BITB)’s stock price traded up 1.4% on Friday . The stock traded as high as $45.15 and last traded at $45.21. 171,892 shares traded hands during trading, a decline of 91% from the average session volume of 2,007,463 shares. The stock had previously closed at $44.59.

Bitwise Bitcoin ETF Price Performance

The firm has a 50 day moving average of $49.49 and a 200-day moving average of $46.98.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gleason Group Inc. acquired a new stake in shares of Bitwise Bitcoin ETF during the 4th quarter valued at about $25,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Bitwise Bitcoin ETF in the 4th quarter valued at $56,000. Signaturefd LLC boosted its stake in shares of Bitwise Bitcoin ETF by 819.7% during the 4th quarter. Signaturefd LLC now owns 1,214 shares of the company’s stock worth $62,000 after acquiring an additional 1,082 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Bitwise Bitcoin ETF during the 4th quarter valued at about $66,000. Finally, Hollencrest Capital Management raised its stake in shares of Bitwise Bitcoin ETF by 257.2% in the 4th quarter. Hollencrest Capital Management now owns 1,518 shares of the company’s stock valued at $77,000 after acquiring an additional 1,093 shares in the last quarter.

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.