Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Up – What’s Next?

Bitwise Bitcoin ETF (NYSEARCA:BITB) gapped up before the market opened on Monday . The stock had previously closed at $45.84, but opened at $50.73. Bitwise Bitcoin ETF shares last traded at $49.39, with a volume of 621,961 shares traded.

Bitwise Bitcoin ETF Stock Up 4.2 %

The company has a 50 day moving average of $52.69 and a 200 day moving average of $45.02.

Institutional Investors Weigh In On Bitwise Bitcoin ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Bitwise Bitcoin ETF by 26.1% during the fourth quarter. Millennium Management LLC now owns 3,727,692 shares of the company’s stock worth $189,553,000 after purchasing an additional 772,144 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Bitwise Bitcoin ETF by 6,348.2% during the 4th quarter. Proficio Capital Partners LLC now owns 2,102,749 shares of the company’s stock worth $106,925,000 after buying an additional 2,070,139 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Bitwise Bitcoin ETF by 281.8% in the 4th quarter. Jane Street Group LLC now owns 1,443,501 shares of the company’s stock valued at $73,402,000 after acquiring an additional 1,065,404 shares during the last quarter. Boothbay Fund Management LLC increased its holdings in shares of Bitwise Bitcoin ETF by 60.5% in the 4th quarter. Boothbay Fund Management LLC now owns 1,104,412 shares of the company’s stock valued at $56,159,000 after acquiring an additional 416,249 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Bitwise Bitcoin ETF by 23.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 914,800 shares of the company’s stock valued at $46,518,000 after acquiring an additional 174,800 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.