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

Shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) gapped up prior to trading on Thursday . The stock had previously closed at $37.16, but opened at $39.04. Bitwise Bitcoin ETF shares last traded at $38.81, with a volume of 802,969 shares changing hands.

Bitwise Bitcoin ETF Trading Up 6.0%

The firm’s fifty day simple moving average is $34.48 and its 200-day simple moving average is $37.46.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Large investors have recently modified their holdings of the company. GeoWealth Management LLC bought a new stake in Bitwise Bitcoin ETF during the fourth quarter valued at $32,000. EverSource Wealth Advisors LLC raised its position in shares of Bitwise Bitcoin ETF by 262.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 888 shares of the company’s stock worth $42,000 after acquiring an additional 643 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Bitwise Bitcoin ETF by 53.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the company’s stock valued at $44,000 after purchasing an additional 421 shares during the period. Kingdom Financial Group LLC. acquired a new position in shares of Bitwise Bitcoin ETF in the 4th quarter valued at about $65,000. Finally, Hollencrest Capital Management boosted its position in shares of Bitwise Bitcoin ETF by 35.9% during the 4th quarter. Hollencrest Capital Management now owns 1,529 shares of the company’s stock valued at $73,000 after purchasing an additional 404 shares in 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.