Bitwise Bitcoin ETF (NYSEARCA:BITB) Shares Gap Down – Here’s What Happened

Bitwise Bitcoin ETF (NYSEARCA:BITB) shares gapped down before the market opened on Tuesday . The stock had previously closed at $51.15, but opened at $48.49. Bitwise Bitcoin ETF shares last traded at $47.19, with a volume of 645,607 shares traded.

Bitwise Bitcoin ETF Stock Performance

The firm’s 50 day simple moving average is $53.56 and its 200 day simple moving average is $44.43.

Hedge Funds Weigh In On Bitwise Bitcoin ETF

Institutional investors have recently modified their holdings of the stock. Gleason Group Inc. purchased a new position in Bitwise Bitcoin ETF during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC lifted its stake in shares of Bitwise Bitcoin ETF by 258.1% in the 3rd quarter. Fairway Wealth LLC now owns 1,110 shares of the company’s stock valued at $38,000 after purchasing an additional 800 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in Bitwise Bitcoin ETF during the fourth quarter valued at $56,000. Signaturefd LLC increased its holdings in Bitwise Bitcoin ETF by 819.7% in the fourth quarter. Signaturefd LLC now owns 1,214 shares of the company’s stock valued at $62,000 after buying an additional 1,082 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Bitwise Bitcoin ETF during the 4th quarter valued at about $66,000.

About Bitwise Bitcoin ETF

The Bitwise Bitcoin ETF Trust (BITB) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a multi-layer cold storage wallet. BITB was launched on Jan 10, 2024 and is issued by Bitwise.