iShares Bitcoin Trust ETF (NASDAQ:IBIT) Sees Large Volume Increase – Time to Buy?

iShares Bitcoin Trust ETF (NASDAQ:IBIT) shares saw unusually-strong trading volume on Friday . Approximately 70,585,916 shares traded hands during mid-day trading, an increase of 44% from the previous session’s volume of 48,912,734 shares.The stock last traded at $47.28 and had previously closed at $48.96.

iShares Bitcoin Trust ETF Price Performance

The business has a 50 day moving average price of $61.99 and a 200 day moving average price of $62.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in shares of iShares Bitcoin Trust ETF in the third quarter worth $9,756,000. Oarsman Capital Inc. boosted its holdings in iShares Bitcoin Trust ETF by 31.6% in the 3rd quarter. Oarsman Capital Inc. now owns 12,630 shares of the company’s stock valued at $821,000 after purchasing an additional 3,031 shares during the period. Centaurus Financial Inc. grew its position in iShares Bitcoin Trust ETF by 13.0% in the 3rd quarter. Centaurus Financial Inc. now owns 76,426 shares of the company’s stock worth $4,968,000 after purchasing an additional 8,809 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of iShares Bitcoin Trust ETF by 646.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,510 shares of the company’s stock worth $1,398,000 after purchasing an additional 18,628 shares during the period. Finally, Asset Dedication LLC increased its holdings in shares of iShares Bitcoin Trust ETF by 8.6% during the 3rd quarter. Asset Dedication LLC now owns 16,397 shares of the company’s stock worth $1,066,000 after purchasing an additional 1,305 shares during the period.

iShares Bitcoin Trust ETF Company Profile

The IShares Bitcoin Trust Registered (IBIT) 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 spot price of Bitcoin. IBIT was launched on Jan 5, 2024 and is issued by BlackRock.