ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) Sees Significant Increase in Short Interest

ProShares Bitcoin & Ether Equal Weight ETF (NYSEARCA:BETE) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 2,608 shares, an increase of 65,100.0% from the May 31st total of 4 shares. Based on an average trading volume of 5,490 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.0% of the shares of the company are short sold.

Institutional Investors Weigh In On ProShares Bitcoin & Ether Equal Weight ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mariner LLC purchased a new position in ProShares Bitcoin & Ether Equal Weight ETF during the third quarter valued at approximately $282,000. Flow Traders U.S. LLC purchased a new stake in shares of ProShares Bitcoin & Ether Equal Weight ETF in the third quarter worth $328,000. Finally, Jane Street Group LLC bought a new stake in shares of ProShares Bitcoin & Ether Equal Weight ETF during the 2nd quarter valued at $295,000.

ProShares Bitcoin & Ether Equal Weight ETF Stock Down 1.1%

BETE stock traded down $0.31 during midday trading on Thursday, reaching $26.72. 774 shares of the company’s stock traded hands, compared to its average volume of 5,213. ProShares Bitcoin & Ether Equal Weight ETF has a 52-week low of $26.61 and a 52-week high of $94.32. The stock’s 50-day moving average is $34.10 and its 200 day moving average is $38.11.

ProShares Bitcoin & Ether Equal Weight ETF Company Profile

The ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is an exchange-traded fund that mostly invests in long cryptocurrency basket, short usd currency. The fund actively manages an equally weighted portfolio of front-month CME Bitcoin and Ether futures contracts. It does not invest directly in bitcoin or ether. BETE was launched on Oct 2, 2023 and is issued by ProShares.