Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Up – What’s Next?

Bitwise Bitcoin ETF (NYSEARCA:BITB)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $45.93, but opened at $47.83. Bitwise Bitcoin ETF shares last traded at $47.8970, with a volume of 859,954 shares changing hands.

Bitwise Bitcoin ETF Stock Performance

The company has a 50-day moving average of $53.73 and a two-hundred day moving average of $58.79.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Several hedge funds have recently modified their holdings of BITB. Moisand Fitzgerald Tamayo LLC lifted its stake in shares of Bitwise Bitcoin ETF by 2.8% during the second quarter. Moisand Fitzgerald Tamayo LLC now owns 5,999 shares of the company’s stock worth $351,000 after purchasing an additional 164 shares in the last quarter. Gunderson Capital Management Inc. raised its holdings in shares of Bitwise Bitcoin ETF by 4.7% during the 3rd quarter. Gunderson Capital Management Inc. now owns 4,120 shares of the company’s stock valued at $256,000 after buying an additional 184 shares during the period. Advisory Resource Group lifted its position in Bitwise Bitcoin ETF by 5.3% during the 3rd quarter. Advisory Resource Group now owns 3,705 shares of the company’s stock worth $231,000 after acquiring an additional 185 shares in the last quarter. Weaver Consulting Group boosted its holdings in Bitwise Bitcoin ETF by 5.7% in the 3rd quarter. Weaver Consulting Group now owns 3,753 shares of the company’s stock worth $234,000 after acquiring an additional 202 shares during the period. Finally, Leverty Financial Group LLC boosted its holdings in Bitwise Bitcoin ETF by 2.4% in the 3rd quarter. Leverty Financial Group LLC now owns 9,409 shares of the company’s stock worth $585,000 after acquiring an additional 224 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.