Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Up – Here’s What Happened

Bitwise Bitcoin ETF (NYSEARCA:BITB) shares gapped up prior to trading on Monday . The stock had previously closed at $36.39, but opened at $37.73. Bitwise Bitcoin ETF shares last traded at $37.60, with a volume of 428,875 shares trading hands.

Bitwise Bitcoin ETF Stock Down 1.1%

The company’s 50 day moving average price is $38.13 and its two-hundred day moving average price is $48.29.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its stake in shares of Bitwise Bitcoin ETF by 2.9% in the fourth quarter. Millennium Management LLC now owns 3,605,179 shares of the company’s stock valued at $171,462,000 after acquiring an additional 102,140 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in shares of Bitwise Bitcoin ETF by 40.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,105,512 shares of the company’s stock valued at $52,578,000 after acquiring an additional 315,860 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Bitwise Bitcoin ETF by 323.9% in the fourth quarter. Wells Fargo & Company MN now owns 821,082 shares of the company’s stock worth $39,051,000 after purchasing an additional 627,405 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Bitwise Bitcoin ETF by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 775,287 shares of the company’s stock worth $36,873,000 after purchasing an additional 82,186 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of Bitwise Bitcoin ETF by 18.9% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 768,789 shares of the company’s stock worth $36,564,000 after purchasing an additional 122,276 shares during the last quarter.

About Bitwise Bitcoin ETF

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.