Bitwise Bitcoin ETF (NYSEARCA:BITB) Trading Up 4.9% – Should You Buy?

Bitwise Bitcoin ETF (NYSEARCA:BITB)’s stock price traded up 4.9% during mid-day trading on Friday . The stock traded as high as $43.68 and last traded at $43.5460. Approximately 407,271 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,275,559 shares. The stock had previously closed at $41.53.

Bitwise Bitcoin ETF Price Performance

The stock has a 50-day moving average of $38.03 and a two-hundred day moving average of $38.15.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its stake in shares of Bitwise Bitcoin ETF by 5.4% in the first quarter. Parallel Advisors LLC now owns 5,905 shares of the company’s stock worth $217,000 after acquiring an additional 303 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Bitwise Bitcoin ETF by 39.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,238 shares of the company’s stock worth $46,000 after buying an additional 350 shares during the period. Adamsbrown Wealth Consultants LLC increased its stake in Bitwise Bitcoin ETF by 3.6% in the 2nd quarter. Adamsbrown Wealth Consultants LLC now owns 11,588 shares of the company’s stock worth $369,000 after buying an additional 404 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Bitwise Bitcoin ETF by 53.9% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the company’s stock valued at $44,000 after acquiring an additional 421 shares during the period. Finally, Columbia Advisory Partners LLC lifted its position in shares of Bitwise Bitcoin ETF by 5.4% in the first quarter. Columbia Advisory Partners LLC now owns 8,482 shares of the company’s stock valued at $312,000 after acquiring an additional 436 shares in 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.