Bitwise Solana Staking ETF (NYSEARCA:BSOL) Shares Shorted: Short Interest Up 175.7% in October

Bitwise Solana Staking ETF (NYSEARCA:BSOL) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 3,315,101 shares, a growth of 175.7% from the September 30th total of 1,202,604 shares. Currently, 5.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,296,007 shares, the days-to-cover ratio is currently 1.0 days.

Bitwise Solana Staking ETF Trading Down 5.4%

Shares of NYSEARCA BSOL traded down $0.74 on Friday, reaching $13.05. 3,889,754 shares of the company traded hands, compared to its average volume of 2,724,951. The company has a 50 day moving average of $14.67 and a 200 day moving average of $12.21. Bitwise Solana Staking ETF has a fifty-two week low of $8.32 and a fifty-two week high of $24.89.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Multicoin Capital Management LLC acquired a new position in Bitwise Solana Staking ETF in the 2nd quarter valued at approximately $18,918,900. Trustees of Dartmouth College bought a new stake in Bitwise Solana Staking ETF during the first quarter worth about $3,368,000. Sepio Capital LP acquired a new stake in Bitwise Solana Staking ETF during the 3rd quarter worth approximately $1,523,000. Militia Capital Management LLC acquired a new position in Bitwise Solana Staking ETF during the first quarter valued at approximately $480,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Bitwise Solana Staking ETF by 8.9% during the third quarter. AdvisorNet Financial Inc now owns 25,738 shares of the ETF’s stock worth $416,000 after purchasing an additional 2,107 shares during the period.

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.