ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Stock Price Up 6% – Should You Buy?

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) shares rose 6% on Monday . The stock traded as high as $29.03 and last traded at $28.76. Approximately 11,337 shares traded hands during trading, an increase of 111% from the average daily volume of 5,385 shares. The stock had previously closed at $27.14.

ProShares Bitcoin & Ether Equal Weight ETF Trading Down 0.9%

The firm’s 50 day moving average price is $35.20 and its two-hundred day moving average price is $39.76.

Institutional Investors Weigh In On ProShares Bitcoin & Ether Equal Weight ETF

A number of hedge funds have recently added to or reduced their stakes in BETE. Mariner LLC acquired a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the third quarter valued at about $282,000. Jane Street Group LLC acquired a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the second quarter valued at about $295,000. Finally, Flow Traders U.S. LLC acquired a new stake in ProShares Bitcoin & Ether Equal Weight ETF in the third quarter valued at about $328,000.

About ProShares Bitcoin & Ether Equal Weight ETF

The ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is an exchange-traded fund that mostly invests in long cryptocurrency basket, short usd currency. The fund actively manages an equally weighted portfolio of front-month CME Bitcoin and Ether futures contracts. It does not invest directly in bitcoin or ether. BETE was launched on Oct 2, 2023 and is issued by ProShares.