Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) Short Interest Update

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 28,839 shares, a growth of 220.3% from the April 30th total of 9,003 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 34,769 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BITW. Sound Income Strategies LLC grew its position in Bitwise 10 Crypto Index ETF by 155.1% during the 1st quarter. Sound Income Strategies LLC now owns 597 shares of the ETF’s stock worth $27,000 after purchasing an additional 363 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Bitwise 10 Crypto Index ETF in the 1st quarter valued at approximately $32,000. PNC Financial Services Group Inc. grew its stake in shares of Bitwise 10 Crypto Index ETF by 23.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,593 shares of the ETF’s stock valued at $116,000 after purchasing an additional 491 shares during the last quarter. PFG Investments LLC grew its stake in shares of Bitwise 10 Crypto Index ETF by 5.6% in the 1st quarter. PFG Investments LLC now owns 5,521 shares of the ETF’s stock valued at $246,000 after purchasing an additional 295 shares during the last quarter. Finally, Modern Wealth Management LLC grew its stake in shares of Bitwise 10 Crypto Index ETF by 29.1% in the 1st quarter. Modern Wealth Management LLC now owns 7,455 shares of the ETF’s stock valued at $335,000 after purchasing an additional 1,679 shares during the last quarter.

Bitwise 10 Crypto Index ETF Trading Down 0.2%

NYSEARCA:BITW opened at $46.93 on Friday. Bitwise 10 Crypto Index ETF has a 52-week low of $40.66 and a 52-week high of $86.70. The stock’s 50 day moving average price is $48.46.

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) is an exchange-traded fund that provides investors with diversified exposure to major digital assets through a single, U.S.-listed security. The fund is managed by Bitwise Asset Management, a firm that specializes in cryptocurrency index products and investment solutions. BITW is designed to reflect the performance of a rules-based index composed of leading cryptocurrencies, offering a convenient way for investors to gain broad crypto market exposure without directly holding private keys or managing multiple wallets.

The fund’s underlying index targets the largest, investable cryptocurrencies and applies an objective methodology to select and weight constituents, with periodic rebalancing to reflect changes in the market.