Short Interest in Bitwise Solana Staking ETF (NYSEARCA:BSOL) Drops By 53.5%

by · The Markets Daily

Bitwise Solana Staking ETF (NYSEARCA:BSOL – Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 189,907 shares, a drop of 53.5% from the May 14th total of 408,047 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 1,991,346 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Bitwise Solana Staking ETF

Several institutional investors have recently bought and sold shares of the company. Electric Capital Partners LLC acquired a new position in Bitwise Solana Staking ETF in the 4th quarter valued at about $137,760,000. Goldman Sachs Group Inc. acquired a new position in Bitwise Solana Staking ETF in the 4th quarter valued at about $45,398,000. Multicoin Capital Management LLC acquired a new position in Bitwise Solana Staking ETF in the 4th quarter valued at about $30,996,000. Wolverine Asset Management LLC acquired a new position in Bitwise Solana Staking ETF in the 4th quarter valued at about $14,267,000. Finally, Mangrove Partners IM LLC acquired a new position in Bitwise Solana Staking ETF in the 4th quarter valued at about $9,232,000.

Bitwise Solana Staking ETF Stock Performance

NYSEARCA BSOL remained flat at $9.05 during trading on Friday. The company’s stock had a trading volume of 1,656,166 shares, compared to its average volume of 2,269,430. The stock’s fifty day moving average is $11.13. Bitwise Solana Staking ETF has a 52 week low of $8.32 and a 52 week high of $26.60.

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.

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