Bitwise Bitcoin ETF (NYSEARCA:BITB) Reaches New 1-Year Low – Here’s Why

Bitwise Bitcoin ETF (NYSEARCA:BITB) shares hit a new 52-week low on Wednesday . The stock traded as low as $32.04 and last traded at $32.33, with a volume of 2603859 shares traded. The stock had previously closed at $33.84.

Bitwise Bitcoin ETF Stock Up 0.9%

The company has a fifty day moving average price of $39.24 and a 200-day moving average price of $41.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GeoWealth Management LLC acquired a new stake in shares of Bitwise Bitcoin ETF during the 4th quarter worth approximately $32,000. Founders Capital Management lifted its stake in shares of Bitwise Bitcoin ETF by 105.9% in the 4th quarter. Founders Capital Management now owns 700 shares of the company’s stock valued at $33,000 after purchasing an additional 360 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of Bitwise Bitcoin ETF in the 4th quarter valued at $34,000. Lodestone Wealth Management LLC purchased a new stake in Bitwise Bitcoin ETF during the fourth quarter worth $38,000. Finally, EverSource Wealth Advisors LLC grew its position in Bitwise Bitcoin ETF by 262.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 888 shares of the company’s stock valued at $42,000 after buying an additional 643 shares during the period.

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.