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

Bitwise Ethereum ETF (NYSEARCA:ETHW) was the target of a significant increase in short interest in 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 company’s stock are sold short. Based on an average daily volume of 1,241,439 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Beam Wealth Advisors Inc. boosted its holdings in Bitwise Ethereum ETF by 10.9% in 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 in the last quarter. Lido Advisors LLC acquired a new position in shares of Bitwise Ethereum ETF during the first quarter valued at about $1,070,000. Unique Wealth LLC raised its position in shares of Bitwise Ethereum ETF by 16.2% in the 1st quarter. Unique Wealth LLC now owns 60,286 shares of the company’s stock valued at $904,000 after purchasing an additional 8,389 shares during the last quarter. Meitav Investment House Ltd. raised its position in shares of Bitwise Ethereum ETF by 10.9% in the 1st quarter. Meitav Investment House Ltd. now owns 56,007 shares of the company’s stock valued at $840,000 after purchasing an additional 5,517 shares during the last quarter. Finally, RFG Advisory LLC boosted its stake in Bitwise Ethereum ETF by 58.3% in the 2nd quarter. RFG Advisory LLC now owns 58,436 shares of the company’s stock worth $659,000 after purchasing an additional 21,527 shares in the last quarter.

Bitwise Ethereum ETF Stock Performance

Shares of ETHW traded down $0.21 during midday trading on Wednesday, hitting $17.05. 168,993 shares of the company’s stock traded hands, compared to its average volume of 1,185,856. Bitwise Ethereum ETF has a 1 year low of $10.93 and a 1 year high of $34.11. The firm’s fifty day moving average is $15.04 and its 200-day moving average is $14.74.

Bitwise Ethereum ETF Company Profile

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.