Bitwise Ethereum ETF (NYSEARCA:ETHW) Trading Up 0.6% – Time to Buy?

Bitwise Ethereum ETF (NYSEARCA:ETHW)’s share price shot up 0.6% on Thursday . The company traded as high as $12.57 and last traded at $12.51. 436,489 shares changed hands during trading, a decline of 66% from the average daily volume of 1,276,292 shares. The stock had previously closed at $12.44.

Bitwise Ethereum ETF Price Performance

The company has a fifty day moving average price of $13.61 and a 200-day moving average price of $16.05.

Institutional Trading of Bitwise Ethereum ETF

A number of large investors have recently added to or reduced their stakes in ETHW. EverSource Wealth Advisors LLC raised its holdings in shares of Bitwise Ethereum ETF by 541.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,194 shares of the company’s stock worth $25,000 after acquiring an additional 1,008 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Bitwise Ethereum ETF in the fourth quarter valued at $32,000. Lodestone Wealth Management LLC purchased a new position in shares of Bitwise Ethereum ETF in the fourth quarter valued at $37,000. Center for Financial Planning Inc. bought a new stake in Bitwise Ethereum ETF in the first quarter worth $39,000. Finally, Sankala Group LLC purchased a new stake in Bitwise Ethereum ETF during the fourth quarter valued at $55,000.

About Bitwise Ethereum ETF

The Bitwise Ethereum ETF (ETHW) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.