Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) Short Interest Down 99.3% in May

Bitwise 10 Crypto Index ETF (NYSEARCA:BITW) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 212 shares, a drop of 99.3% from the May 14th total of 28,839 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 51,007 shares, the days-to-cover ratio is currently 0.0 days.

Bitwise 10 Crypto Index ETF Stock Down 2.2%

NYSEARCA:BITW traded down $0.91 on Tuesday, reaching $39.56. 135,838 shares of the company’s stock traded hands, compared to its average volume of 105,929. The stock’s 50-day moving average is $47.84. Bitwise 10 Crypto Index ETF has a 12 month low of $37.56 and a 12 month high of $86.70.

Institutional Investors Weigh In On Bitwise 10 Crypto Index ETF

A number of institutional investors and hedge funds have recently bought and sold shares of BITW. Sound Income Strategies LLC raised its holdings in 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 acquiring an additional 363 shares during the period. Ascentis Independent Advisors bought a new stake in Bitwise 10 Crypto Index ETF during the first quarter valued at about $32,000. PNC Financial Services Group Inc. increased 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 purchasing an additional 491 shares during the last quarter. PFG Investments LLC increased its holdings 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 purchasing an additional 295 shares during the last quarter. Finally, Modern Wealth Management LLC increased its holdings 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 purchasing an additional 1,679 shares during 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.