Bitwise Bitcoin ETF (NYSEARCA:BITB) Hits New 1-Year Low – Here’s What Happened

Bitwise Bitcoin ETF (NYSEARCA:BITB)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $32.61 and last traded at $32.74, with a volume of 1448772 shares changing hands. The stock had previously closed at $34.51.

Bitwise Bitcoin ETF Stock Performance

The company has a 50 day moving average price of $40.24 and a 200 day moving average price of $42.85.

Institutional Trading of Bitwise Bitcoin ETF

A number of institutional investors have recently bought and sold shares of BITB. Brighton Jones LLC purchased a new stake in Bitwise Bitcoin ETF during the fourth quarter worth $516,000. Focus Partners Wealth boosted its position in Bitwise Bitcoin ETF by 0.8% during the first quarter. Focus Partners Wealth now owns 29,358 shares of the company’s stock worth $1,318,000 after purchasing an additional 244 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Bitwise Bitcoin ETF by 1,519.0% during the second quarter. JPMorgan Chase & Co. now owns 50,076 shares of the company’s stock worth $2,934,000 after purchasing an additional 46,983 shares in the last quarter. CW Advisors LLC purchased a new stake in Bitwise Bitcoin ETF during the second quarter worth $228,000. Finally, First Trust Advisors LP boosted its position in Bitwise Bitcoin ETF by 21.9% during the second quarter. First Trust Advisors LP now owns 102,571 shares of the company’s stock worth $6,010,000 after purchasing an additional 18,397 shares in the last quarter.

Bitwise Bitcoin ETF Company Profile

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.