Bitwise Solana Staking ETF (NYSEARCA:BSOL) Short Interest Down 42.9% in April

Bitwise Solana Staking ETF (NYSEARCA:BSOL) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 608,468 shares, a decrease of 42.9% from the April 15th total of 1,066,156 shares. Based on an average daily trading volume, of 1,891,278 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.7% of the company’s shares are sold short.

Bitwise Solana Staking ETF Stock Down 3.9%

NYSEARCA:BSOL traded down $0.49 during midday trading on Friday, reaching $12.05. 1,882,926 shares of the stock traded hands, compared to its average volume of 2,185,798. The business has a fifty day moving average of $11.67. Bitwise Solana Staking ETF has a 12 month low of $10.10 and a 12 month high of $26.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC purchased a new position in Bitwise Solana Staking ETF during the 4th quarter valued at $26,000. AdvisorNet Financial Inc increased its position in Bitwise Solana Staking ETF by 11.8% during the 1st quarter. AdvisorNet Financial Inc now owns 15,557 shares of the ETF’s stock valued at $172,000 after purchasing an additional 1,646 shares during the period. PNC Financial Services Group Inc. increased its position in Bitwise Solana Staking ETF by 228.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,800 shares of the ETF’s stock valued at $42,000 after purchasing an additional 2,644 shares during the period. Farther Finance Advisors LLC purchased a new position in Bitwise Solana Staking ETF during the 4th quarter valued at $48,000. Finally, Cardiff Park Advisors LLC increased its position in Bitwise Solana Staking ETF by 83.6% during the 1st quarter. Cardiff Park Advisors LLC now owns 20,000 shares of the ETF’s stock valued at $221,000 after purchasing an additional 9,108 shares during the period.

Bitwise Solana Staking ETF (NYSEARCA: BSOL) is an exchange-traded fund listed on the NYSE Arca that is offered by Bitwise Asset Management. The fund is designed to provide investors with targeted exposure to the Solana blockchain ecosystem by combining ownership of the SOL token with efforts to capture staking rewards associated with Proof-of-Stake validation on the Solana network. As an ETF, BSOL offers a single, regulated vehicle to pursue that exposure within brokerage accounts.

BSOL’s investment approach centers on holding SOL and pursuing mechanisms to accrue staking income, which may involve validating or delegating tokens to network validators or using custodial staking services.