Bitwise Solana Staking ETF (NYSEARCA:BSOL) Short Interest Up 374.5% in June

Bitwise Solana Staking ETF (NYSEARCA:BSOL) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 573,421 shares, an increase of 374.5% from the June 15th total of 120,849 shares. Based on an average daily trading volume, of 2,594,822 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.0% of the company’s shares are short sold.

Bitwise Solana Staking ETF Stock Down 3.5%

Shares of NYSEARCA BSOL opened at $10.22 on Tuesday. Bitwise Solana Staking ETF has a twelve month low of $8.32 and a twelve month high of $26.60. The business’s fifty day moving average price is $10.62.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Beaird Harris Wealth Management LLC acquired a new position in shares of Bitwise Solana Staking ETF in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new stake in Bitwise Solana Staking ETF during the fourth quarter worth approximately $48,000. PNC Financial Services Group Inc. increased its holdings in Bitwise Solana Staking ETF by 228.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,800 shares of the ETF’s stock worth $42,000 after purchasing an additional 2,644 shares in the last quarter. RFG Advisory LLC bought a new stake in Bitwise Solana Staking ETF in the first quarter worth approximately $117,000. Finally, Cardiff Park Advisors LLC acquired a new position in Bitwise Solana Staking ETF in the fourth quarter valued at approximately $179,000.

Bitwise Solana Staking ETF (NYSEARCA: BSOL) is an exchange-traded fund listed on the NYSE Arca that is offered by Bitwise Asset Management. The fund is designed to provide investors with targeted exposure to the Solana blockchain ecosystem by combining ownership of the SOL token with efforts to capture staking rewards associated with Proof-of-Stake validation on the Solana network. As an ETF, BSOL offers a single, regulated vehicle to pursue that exposure within brokerage accounts.

BSOL’s investment approach centers on holding SOL and pursuing mechanisms to accrue staking income, which may involve validating or delegating tokens to network validators or using custodial staking services.