Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) Sees Large Increase in Short Interest

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 11,707 shares, a growth of 1,508.1% from the July 30th total of 728 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 23,917 shares, the short-interest ratio is currently 0.5 days.

Bitwise 10 Crypto Index ETF Trading Up 0.2%

BITW opened at $51.60 on Wednesday. The business’s fifty day moving average price is $41.50. Bitwise 10 Crypto Index ETF has a 52 week low of $37.20 and a 52 week high of $86.70.

Institutional Trading of Bitwise 10 Crypto Index ETF

A number of hedge funds have recently added to or reduced their stakes in BITW. Sound Income Strategies LLC increased its position in Bitwise 10 Crypto Index ETF by 155.1% during the 1st quarter. Sound Income Strategies LLC now owns 597 shares of the ETF’s stock valued at $27,000 after purchasing an additional 363 shares during the period. Ascentis Independent Advisors bought a new position in shares of Bitwise 10 Crypto Index ETF during the first quarter valued at approximately $32,000. PNC Financial Services Group Inc. increased its holdings in Bitwise 10 Crypto Index ETF by 23.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,593 shares of the ETF’s stock valued at $116,000 after buying an additional 491 shares during the period. PFG Investments LLC raised its stake in Bitwise 10 Crypto Index ETF by 5.6% in the first quarter. PFG Investments LLC now owns 5,521 shares of the ETF’s stock worth $246,000 after buying an additional 295 shares in the last quarter. Finally, Rose Capital Advisors LLC bought a new position in Bitwise 10 Crypto Index ETF in the second quarter worth approximately $219,000.

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) is an exchange-traded fund that provides investors with diversified exposure to major digital assets through a single, U.S.-listed security. The fund is managed by Bitwise Asset Management, a firm that specializes in cryptocurrency index products and investment solutions. BITW is designed to reflect the performance of a rules-based index composed of leading cryptocurrencies, offering a convenient way for investors to gain broad crypto market exposure without directly holding private keys or managing multiple wallets.

The fund’s underlying index targets the largest, investable cryptocurrencies and applies an objective methodology to select and weight constituents, with periodic rebalancing to reflect changes in the market.