Archer Investment Management LLC Invests $1.70 Million in Bitwise Bitcoin ETF (NYSEARCA:BITB)

Archer Investment Management LLC acquired a new position in Bitwise Bitcoin ETF (NYSEARCA:BITB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 33,333 shares of the company’s stock, valued at approximately $1,695,000. Bitwise Bitcoin ETF accounts for 1.0% of Archer Investment Management LLC’s holdings, making the stock its 21st largest position.

Other large investors have also recently modified their holdings of the company. Gleason Group Inc. purchased a new position in shares of Bitwise Bitcoin ETF in the fourth quarter worth about $25,000. Fairway Wealth LLC increased its holdings in shares of Bitwise Bitcoin ETF by 258.1% in the third quarter. Fairway Wealth LLC now owns 1,110 shares of the company’s stock worth $38,000 after buying an additional 800 shares during the period. Avior Wealth Management LLC purchased a new position in Bitwise Bitcoin ETF during the 3rd quarter valued at about $69,000. Farther Finance Advisors LLC increased its holdings in Bitwise Bitcoin ETF by 6,150.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,500 shares of the company’s stock valued at $86,000 after purchasing an additional 2,460 shares during the period. Finally, Allworth Financial LP increased its holdings in Bitwise Bitcoin ETF by 381.5% during the 3rd quarter. Allworth Financial LP now owns 2,557 shares of the company’s stock valued at $88,000 after purchasing an additional 2,026 shares during the period.

Bitwise Bitcoin ETF Stock Performance

Shares of NYSEARCA:BITB opened at $55.12 on Tuesday. Bitwise Bitcoin ETF has a 1 year low of $23.06 and a 1 year high of $59.07. The stock’s 50-day moving average is $53.79 and its 200 day moving average is $42.28.

Bitwise Bitcoin ETF 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.