Bitwise Ethereum ETF (NYSEARCA:ETHW) Shares Down 0.6% – Should You Sell?

Bitwise Ethereum ETF (NYSEARCA:ETHW)’s share price dropped 0.6% during trading on Wednesday . The stock traded as low as $17.60 and last traded at $17.63. 625,952 shares changed hands during trading, a decline of 47% from the average session volume of 1,191,051 shares. The stock had previously closed at $17.74.

Bitwise Ethereum ETF Price Performance

The stock’s 50-day moving average price is $14.72 and its two-hundred day moving average price is $14.66.

Hedge Funds Weigh In On Bitwise Ethereum ETF

A number of hedge funds have recently added to or reduced their stakes in ETHW. EverSource Wealth Advisors LLC lifted 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 valued at $25,000 after buying an additional 1,008 shares during the period. Center for Financial Planning Inc. purchased a new stake in Bitwise Ethereum ETF during the first quarter valued at $39,000. Sankala Group LLC bought a new position in Bitwise Ethereum ETF in the fourth quarter valued at about $55,000. Integrated Wealth Concepts LLC bought a new position in Bitwise Ethereum ETF in the second quarter valued at about $58,000. Finally, Osaic Holdings Inc. purchased a new position in Bitwise Ethereum ETF in the second quarter worth about $66,000.

Bitwise Ethereum ETF Company Profile

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.