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

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 728 shares, a decrease of 48.4% from the July 15th total of 1,411 shares. Based on an average daily volume of 33,049 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Bitwise 10 Crypto Index ETF Stock Performance

NYSEARCA:BITW traded up $0.21 during trading hours on Tuesday, reaching $41.57. 23,803 shares of the company’s stock were exchanged, compared to its average volume of 86,836. Bitwise 10 Crypto Index ETF has a 12 month low of $37.20 and a 12 month high of $86.70. The stock has a 50-day moving average price of $40.67.

Institutional Investors Weigh In On Bitwise 10 Crypto Index ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC lifted its holdings in shares of Bitwise 10 Crypto Index ETF by 155.1% during the first 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 last quarter. Ascentis Independent Advisors purchased a new stake in Bitwise 10 Crypto Index ETF during the first quarter valued at about $32,000. PNC Financial Services Group Inc. boosted its holdings in shares of Bitwise 10 Crypto Index ETF by 23.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,593 shares of the ETF’s stock worth $116,000 after buying an additional 491 shares during the period. PFG Investments LLC increased its position in shares of 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 acquiring an additional 295 shares in the last quarter. Finally, Modern Wealth Management LLC increased its position in shares of Bitwise 10 Crypto Index ETF by 29.1% in the first quarter. Modern Wealth Management LLC now owns 7,455 shares of the ETF’s stock worth $335,000 after acquiring an additional 1,679 shares in the last quarter.

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.