Short Interest in Bitwise Bitcoin ETF (NYSEARCA:BITB) Grows By 1,473.9%

Bitwise Bitcoin ETF (NYSEARCA:BITB) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 696,257 shares, a growth of 1,473.9% from the August 15th total of 44,237 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 1,927,063 shares, the days-to-cover ratio is currently 0.4 days.

Bitwise Bitcoin ETF Trading Up 2.4%

Shares of Bitwise Bitcoin ETF stock opened at $42.86 on Friday. Bitwise Bitcoin ETF has a 12-month low of $31.49 and a 12-month high of $68.74. The business’s 50 day moving average is $37.27 and its 200-day moving average is $37.94.

Institutional Trading of Bitwise Bitcoin ETF

Large investors have recently added to or reduced their stakes in the company. RFG Advisory LLC grew its position in shares of Bitwise Bitcoin ETF by 34.9% in the 2nd quarter. RFG Advisory LLC now owns 114,140 shares of the company’s stock valued at $3,636,000 after acquiring an additional 29,558 shares during the period. Waverly Advisors LLC raised its holdings in shares of Bitwise Bitcoin ETF by 29.2% in the 2nd quarter. Waverly Advisors LLC now owns 27,855 shares of the company’s stock valued at $887,000 after purchasing an additional 6,292 shares during the period. Tenet Wealth Partners LLC acquired a new stake in Bitwise Bitcoin ETF in the 2nd quarter valued at about $216,000. Mason & Associates Inc lifted its stake in Bitwise Bitcoin ETF by 2.6% in the 2nd quarter. Mason & Associates Inc now owns 24,489 shares of the company’s stock valued at $780,000 after purchasing an additional 631 shares during the last quarter. Finally, Carter Financial Group INC. lifted its stake in Bitwise Bitcoin ETF by 3.4% in the 2nd quarter. Carter Financial Group INC. now owns 140,837 shares of the company’s stock valued at $4,487,000 after purchasing an additional 4,567 shares during 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.