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

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) was the target of a significant growth in short interest in 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. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 23,917 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

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

Bitwise 10 Crypto Index ETF Stock Performance

Bitwise 10 Crypto Index ETF stock opened at $51.20 on Thursday. The business’s fifty day moving average is $41.70. Bitwise 10 Crypto Index ETF has a one year low of $37.20 and a one year high of $86.70.

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.