Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Up – Should You Buy?

Bitwise Bitcoin ETF (NYSEARCA:BITB)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $46.47, but opened at $48.23. Bitwise Bitcoin ETF shares last traded at $49.2070, with a volume of 1,059,584 shares.

Bitwise Bitcoin ETF Trading Down 0.4%

The firm has a fifty day simple moving average of $56.99 and a two-hundred day simple moving average of $59.50.

Hedge Funds Weigh In On Bitwise Bitcoin ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CMC Financial Group bought a new stake in shares of Bitwise Bitcoin ETF in the third quarter valued at approximately $396,000. CIBC Bancorp USA Inc. bought a new position in shares of Bitwise Bitcoin ETF in the third quarter worth $1,166,000. Wilmington Savings Fund Society FSB grew its position in shares of Bitwise Bitcoin ETF by 52.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 3,399 shares of the company’s stock valued at $211,000 after purchasing an additional 1,164 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Bitwise Bitcoin ETF by 385.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,665 shares of the company’s stock worth $166,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Bitwise Bitcoin ETF by 2.0% in the 3rd quarter. Proficio Capital Partners LLC now owns 34,167 shares of the company’s stock worth $2,126,000 after purchasing an additional 670 shares during the period.

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.