SVB Wealth LLC Makes New $550,000 Investment in Bitwise Bitcoin ETF (NYSEARCA:BITB)

SVB Wealth LLC bought a new position in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) in the 4th quarter, HoldingsChannel.com reports. The fund bought 10,810 shares of the company’s stock, valued at approximately $550,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC increased its stake in Bitwise Bitcoin ETF by 6,348.2% during the fourth quarter. Proficio Capital Partners LLC now owns 2,102,749 shares of the company’s stock worth $106,925,000 after acquiring an additional 2,070,139 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Bitwise Bitcoin ETF in the 4th quarter valued at approximately $486,000. WT Wealth Management purchased a new stake in shares of Bitwise Bitcoin ETF in the 4th quarter valued at approximately $981,000. Apriem Advisors purchased a new stake in shares of Bitwise Bitcoin ETF in the 4th quarter valued at approximately $265,000. Finally, JBR Co Financial Management Inc purchased a new stake in shares of Bitwise Bitcoin ETF in the 4th quarter valued at approximately $218,000.

Bitwise Bitcoin ETF Price Performance

Bitwise Bitcoin ETF stock opened at $46.79 on Tuesday. The company’s 50 day simple moving average is $52.82 and its 200-day simple moving average is $44.92. Bitwise Bitcoin ETF has a 1 year low of $27.02 and a 1 year high of $59.07.

Bitwise Bitcoin ETF 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.