Bitwise Ethereum ETF (NYSEARCA:ETHW) Sees Large Growth in Short Interest

Bitwise Ethereum ETF (NYSEARCA:ETHW) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 231,162 shares, an increase of 83.9% from the August 15th total of 125,674 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,241,439 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Bitwise Ethereum ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in Bitwise Ethereum ETF in the second quarter valued at $58,000. RFG Advisory LLC increased its position in Bitwise Ethereum ETF by 58.3% during the 2nd quarter. RFG Advisory LLC now owns 58,436 shares of the company’s stock worth $659,000 after purchasing an additional 21,527 shares during the period. Gainline Financial Partners LLC acquired a new stake in Bitwise Ethereum ETF during the second quarter worth approximately $158,000. Wealthcare Advisory Partners LLC boosted its position in Bitwise Ethereum ETF by 61.0% during the second quarter. Wealthcare Advisory Partners LLC now owns 19,675 shares of the company’s stock worth $222,000 after acquiring an additional 7,455 shares during the last quarter. Finally, Wealthcare Capital Management LLC acquired a new position in Bitwise Ethereum ETF in the 2nd quarter valued at $191,000.

Bitwise Ethereum ETF Price Performance

Bitwise Ethereum ETF stock traded up $0.31 during trading on Thursday, reaching $17.51. The company had a trading volume of 355,842 shares, compared to its average volume of 1,186,524. Bitwise Ethereum ETF has a 1-year low of $10.93 and a 1-year high of $34.11. The firm’s 50-day simple moving average is $15.13 and its 200 day simple moving average is $14.76.

Bitwise Ethereum ETF Company Profile

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.