Rakuten Group Inc. Makes New $78 Million Investment in Bitwise Web3 ETF $BWEB

Rakuten Group Inc. bought a new stake in Bitwise Web3 ETF (NYSEARCA:BWEB) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,690 shares of the company’s stock, valued at approximately $78,005,000. Bitwise Web3 ETF makes up 0.0% of Rakuten Group Inc.’s investment portfolio, making the stock its 5th biggest holding. Rakuten Group Inc. owned 8.36% of Bitwise Web3 ETF as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ankerstar Wealth LLC acquired a new position in shares of Bitwise Web3 ETF during the 4th quarter worth $76,000. Jane Street Group LLC boosted its stake in Bitwise Web3 ETF by 25.7% in the fourth quarter. Jane Street Group LLC now owns 5,692 shares of the company’s stock valued at $403,000 after buying an additional 1,163 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Bitwise Web3 ETF in the fourth quarter valued at about $788,000.

Bitwise Web3 ETF Stock Performance

Shares of NYSEARCA BWEB opened at $76.83 on Friday. The company has a market cap of $6.15 million, a price-to-earnings ratio of 31.67 and a beta of 2.11. Bitwise Web3 ETF has a 12 month low of $58.52 and a 12 month high of $88.75. The stock has a 50-day moving average price of $76.83 and a two-hundred day moving average price of $72.46.

About Bitwise Web3 ETF

The Bitwise Web3 ETF (BWEB) is an exchange-traded fund that is based on the Bitwise Web3 Equities index. The fund tracks a tier-weighted index of companies connected to the global Web 3.0 industry. The selection process is overseen by a committee. BWEB was launched on Oct 4, 2022 and is managed by Bitwise.