Bitwise Ethereum ETF (NYSEARCA:ETHW) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Bitwise Ethereum ETF (NYSEARCA:ETHW – Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 231,162 shares, an increase of 83.9% from the August 15th total of 125,674 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,241,439 shares, the short-interest ratio is currently 0.2 days.

Bitwise Ethereum ETF Price Performance

Shares of NYSEARCA ETHW traded down $0.21 during mid-day trading on Wednesday, hitting $17.05. The stock had a trading volume of 168,993 shares, compared to its average volume of 1,185,856. The company has a 50 day moving average of $15.04 and a two-hundred day moving average of $14.74. Bitwise Ethereum ETF has a twelve month low of $10.93 and a twelve month high of $34.11.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Lido Advisors LLC purchased a new position in shares of Bitwise Ethereum ETF during the 1st quarter valued at about $1,070,000. RFG Advisory LLC purchased a new stake in shares of Bitwise Ethereum ETF in the first quarter worth about $554,000. Harbour Wealth Management Group Inc. acquired a new stake in Bitwise Ethereum ETF during the first quarter worth about $543,000. Beam Wealth Advisors Inc. grew its holdings in Bitwise Ethereum ETF by 10.9% during the first quarter. Beam Wealth Advisors Inc. now owns 216,676 shares of the company’s stock worth $3,250,000 after acquiring an additional 21,259 shares during the period. Finally, Archer Investment Management LLC acquired a new stake in Bitwise Ethereum ETF during the second quarter worth about $229,000.

About Bitwise Ethereum ETF

(Get Free Report)

The Bitwise Ethereum ETF (ETHW) is an exchange-traded fund that mostly invests in long eth, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Ether (ETH). It will hold Ether directly, secured through a multi-layer cold storage wallet. ETHW was launched on Jul 22, 2024 and is issued by Bitwise.

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