Bitwise Ethereum ETF (NYSEARCA:ETHW) Sees Large Decline in Short Interest

Bitwise Ethereum ETF (NYSEARCA:ETHW) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 109,377 shares, a decline of 66.1% from the July 15th total of 322,347 shares. Based on an average daily trading volume, of 964,847 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.7% of the shares of the stock are sold short.

Bitwise Ethereum ETF Price Performance

Bitwise Ethereum ETF stock traded down $0.05 during midday trading on Friday, reaching $13.44. 371,624 shares of the stock traded hands, compared to its average volume of 1,200,934. The stock’s fifty day moving average is $12.76 and its 200-day moving average is $14.56. Bitwise Ethereum ETF has a 12 month low of $10.93 and a 12 month high of $34.84.

Hedge Funds Weigh In On Bitwise Ethereum ETF

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in Bitwise Ethereum ETF during the 4th quarter valued at $6,767,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Bitwise Ethereum ETF by 42.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 712,700 shares of the company’s stock valued at $21,253,000 after acquiring an additional 212,700 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Bitwise Ethereum ETF by 373,526.0% in the 4th quarter. Wells Fargo & Company MN now owns 186,813 shares of the company’s stock worth $3,974,000 after acquiring an additional 186,763 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Bitwise Ethereum ETF during the 4th quarter worth about $3,094,000. Finally, Renaissance Technologies LLC bought a new position in Bitwise Ethereum ETF during the 4th quarter valued at about $1,853,000.

About Bitwise Ethereum ETF

The Bitwise Ethereum ETF (ETHW) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.