Short Interest in Bitwise Solana Staking ETF (NYSEARCA:BSOL) Expands By 374.5%

Bitwise Solana Staking ETF (NYSEARCA:BSOL) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 573,421 shares, a growth of 374.5% from the June 15th total of 120,849 shares. Based on an average trading volume of 2,594,822 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.0% of the shares of the company are short sold.

Bitwise Solana Staking ETF Price Performance

NYSEARCA:BSOL traded down $0.05 during trading hours on Friday, hitting $10.59. 2,166,224 shares of the company traded hands, compared to its average volume of 2,354,251. Bitwise Solana Staking ETF has a twelve month low of $8.32 and a twelve month high of $26.60. The stock’s 50-day moving average price is $10.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perigon Wealth Management LLC acquired a new position in shares of Bitwise Solana Staking ETF during the fourth quarter valued at about $357,000. Farther Finance Advisors LLC acquired a new stake in Bitwise Solana Staking ETF during the fourth quarter worth about $48,000. Quattro Financial Advisors LLC bought a new position in Bitwise Solana Staking ETF during the fourth quarter valued at about $319,000. Wolverine Asset Management LLC bought a new position in Bitwise Solana Staking ETF during the fourth quarter valued at about $14,267,000. Finally, VanderPol Investments L.L.C. acquired a new position in Bitwise Solana Staking ETF in the 4th quarter valued at approximately $242,000.

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.