JPMorgan Chase & Co. Grows Position in ProShares Bitcoin ETF (NYSEARCA:BITO)

JPMorgan Chase & Co. raised its position in ProShares Bitcoin ETF (NYSEARCA:BITO) by 2,930.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,179 shares of the company’s stock after purchasing an additional 24,348 shares during the quarter. JPMorgan Chase & Co.’s holdings in ProShares Bitcoin ETF were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whitebox Advisors LLC grew its stake in shares of ProShares Bitcoin ETF by 19.7% during the third quarter. Whitebox Advisors LLC now owns 697,042 shares of the company’s stock valued at $13,376,000 after buying an additional 114,872 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in ProShares Bitcoin ETF in the 3rd quarter valued at $11,254,000. IHT Wealth Management LLC increased its stake in ProShares Bitcoin ETF by 100.5% in the third quarter. IHT Wealth Management LLC now owns 196,782 shares of the company’s stock worth $3,619,000 after purchasing an additional 98,643 shares during the period. Total Investment Management Inc. lifted its position in shares of ProShares Bitcoin ETF by 118.4% during the third quarter. Total Investment Management Inc. now owns 150,982 shares of the company’s stock worth $2,897,000 after purchasing an additional 81,836 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of ProShares Bitcoin ETF by 28.1% during the third quarter. MML Investors Services LLC now owns 93,050 shares of the company’s stock valued at $1,786,000 after purchasing an additional 20,386 shares during the period.

ProShares Bitcoin ETF Price Performance

ProShares Bitcoin ETF stock opened at $24.54 on Wednesday. The firm has a 50-day moving average of $24.77 and a two-hundred day moving average of $21.55. ProShares Bitcoin ETF has a 1 year low of $16.11 and a 1 year high of $33.79.

ProShares Bitcoin ETF Profile

The ProShares Bitcoin Strategy ETF (BITO) is an exchange-traded fund that mostly invests in long bitcoin, short usd currency. The fund actively manages a portfolio of front-month CME bitcoin futures. BITO was launched on Oct 18, 2021 and is managed by ProShares.