Belpointe Asset Management LLC Takes $470,000 Position in Bitwise Bitcoin ETF $BITB

Belpointe Asset Management LLC acquired a new stake in Bitwise Bitcoin ETF (NYSEARCA:BITB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,483 shares of the company’s stock, valued at approximately $470,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Beaird Harris Wealth Management LLC boosted its stake in shares of Bitwise Bitcoin ETF by 53.2% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 535,732 shares of the company’s stock valued at $24,044,000 after buying an additional 185,930 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Bitwise Bitcoin ETF by 48.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 454,191 shares of the company’s stock valued at $20,384,000 after buying an additional 147,304 shares during the period. Sculptor Capital LP acquired a new stake in shares of Bitwise Bitcoin ETF during the 1st quarter worth about $16,488,000. Elequin Capital LP raised its position in shares of Bitwise Bitcoin ETF by 28.5% during the 4th quarter. Elequin Capital LP now owns 331,972 shares of the company’s stock worth $16,881,000 after acquiring an additional 73,703 shares in the last quarter. Finally, Traphagen Investment Advisors LLC raised its position in shares of Bitwise Bitcoin ETF by 38.8% during the 1st quarter. Traphagen Investment Advisors LLC now owns 221,918 shares of the company’s stock worth $9,960,000 after acquiring an additional 62,073 shares in the last quarter.

Bitwise Bitcoin ETF Price Performance

Shares of NYSEARCA BITB opened at $63.60 on Friday. Bitwise Bitcoin ETF has a fifty-two week low of $31.31 and a fifty-two week high of $66.90. The stock’s 50-day simple moving average is $62.53 and its 200-day simple moving average is $55.56.

Bitwise Bitcoin ETF Company Profile

The Bitwise Bitcoin ETF Trust (BITB) is an exchange-traded fund that mostly invests in long btc, short usd currency. The fund is a passively managed fund that seeks to track the price performance of spot Bitcoin (BTC). It will hold Bitcoin directly, secured through a multi-layer cold storage wallet. BITB was launched on Jan 10, 2024 and is issued by Bitwise.