Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Up – Should You Buy?

Shares of Bitwise Bitcoin ETF (NYSEARCA:BITB) gapped up before the market opened on Monday . The stock had previously closed at $45.84, but opened at $50.73. Bitwise Bitcoin ETF shares last traded at $49.39, with a volume of 621,961 shares trading hands.

Bitwise Bitcoin ETF Trading Up 3.7 %

The business has a fifty day moving average of $52.90 and a 200-day moving average of $44.81.

Institutional Trading of Bitwise Bitcoin ETF

A number of large investors have recently added to or reduced their stakes in BITB. Gleason Group Inc. acquired a new stake in shares of Bitwise Bitcoin ETF during the 4th quarter valued at $25,000. Fairway Wealth LLC raised its position in shares of Bitwise Bitcoin ETF by 258.1% during the third quarter. Fairway Wealth LLC now owns 1,110 shares of the company’s stock worth $38,000 after purchasing an additional 800 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in shares of Bitwise Bitcoin ETF during the fourth quarter valued at $56,000. Signaturefd LLC boosted its position in shares of Bitwise Bitcoin ETF by 819.7% in the 4th quarter. Signaturefd LLC now owns 1,214 shares of the company’s stock valued at $62,000 after purchasing an additional 1,082 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in Bitwise Bitcoin ETF in the 4th quarter worth about $66,000.

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.