a16z Perennial Management L.P. Takes $812,000 Position in Bitwise Bitcoin ETF (NYSEARCA:BITB)

a16z Perennial Management L.P. purchased a new position in shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,961 shares of the company’s stock, valued at approximately $812,000. Bitwise Bitcoin ETF accounts for approximately 0.1% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds also recently added to or reduced their stakes in BITB. Steward Partners Investment Advisory LLC grew its position in Bitwise Bitcoin ETF by 85.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,369 shares of the company’s stock valued at $120,000 after acquiring an additional 1,091 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in shares of Bitwise Bitcoin ETF during the fourth quarter valued at $358,000. SRS Capital Advisors Inc. bought a new position in shares of Bitwise Bitcoin ETF in the fourth quarter worth about $1,242,000. SVB Wealth LLC purchased a new position in Bitwise Bitcoin ETF in the 4th quarter worth about $550,000. Finally, 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 valued at $106,925,000 after buying an additional 2,070,139 shares in the last quarter.

Bitwise Bitcoin ETF Price Performance

Bitwise Bitcoin ETF stock opened at $47.26 on Wednesday. The firm has a 50-day moving average of $52.69 and a two-hundred day moving average of $45.02. 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.