Bitwise Ethereum ETF (NYSEARCA:ETHW) Trading Up 5.9% – Here’s Why

Bitwise Ethereum ETF (NYSEARCA:ETHW)’s share price was up 5.9% during mid-day trading on Monday . The company traded as high as $14.96 and last traded at $14.58. Approximately 3,477,176 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 1,875,967 shares. The stock had previously closed at $13.77.

Bitwise Ethereum ETF Price Performance

The stock’s 50-day simple moving average is $18.48 and its 200 day simple moving average is $24.09.

Institutional Trading of Bitwise Ethereum ETF

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in Bitwise Ethereum ETF by 541.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,194 shares of the company’s stock valued at $25,000 after purchasing an additional 1,008 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Bitwise Ethereum ETF in the 3rd quarter valued at $26,000. Sound Income Strategies LLC purchased a new position in shares of Bitwise Ethereum ETF in the 4th quarter valued at $32,000. Lodestone Wealth Management LLC acquired a new stake in Bitwise Ethereum ETF during the 4th quarter worth $37,000. Finally, Private Wealth Asset Management LLC lifted its position in Bitwise Ethereum ETF by 50.0% in the third quarter. Private Wealth Asset Management LLC now owns 1,500 shares of the company’s stock valued at $45,000 after acquiring an additional 500 shares during the last quarter.

About Bitwise Ethereum ETF

The Bitwise Ethereum ETF (ETHW) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.