Bitwise Bitcoin ETF (NYSEARCA:BITB) Stock Price Up 1.4% – Still a Buy?

Bitwise Bitcoin ETF (NYSEARCA:BITB) shares traded up 1.4% during mid-day trading on Friday . The stock traded as high as $45.15 and last traded at $45.21. 171,892 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,007,463 shares. The stock had previously closed at $44.59.

Bitwise Bitcoin ETF Stock Up 2.8 %

The business’s fifty day moving average is $49.49 and its 200 day moving average is $46.98.

Hedge Funds Weigh In On Bitwise Bitcoin ETF

A number of hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC increased its stake in Bitwise Bitcoin ETF by 6,348.2% in the 4th quarter. Proficio Capital Partners LLC now owns 2,102,749 shares of the company’s stock worth $106,925,000 after purchasing an additional 2,070,139 shares in the last quarter. Jane Street Group LLC increased its position in shares of Bitwise Bitcoin ETF by 281.8% in the fourth quarter. Jane Street Group LLC now owns 1,443,501 shares of the company’s stock worth $73,402,000 after acquiring an additional 1,065,404 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Bitwise Bitcoin ETF by 26.1% during the fourth quarter. Millennium Management LLC now owns 3,727,692 shares of the company’s stock valued at $189,553,000 after acquiring an additional 772,144 shares during the period. Hunting Hill Global Capital LLC purchased a new stake in shares of Bitwise Bitcoin ETF in the 4th quarter valued at approximately $31,052,000. Finally, Boothbay Fund Management LLC boosted its stake in Bitwise Bitcoin ETF by 60.5% in the 4th quarter. Boothbay Fund Management LLC now owns 1,104,412 shares of the company’s stock worth $56,159,000 after purchasing an additional 416,249 shares during the period.

About Bitwise Bitcoin ETF

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.