Crypto

iShares Bitcoin Trust (NASDAQ:IBIT) Trading 1.1% Higher - Is It Time to Buy?

Published February 17, 2025

On Monday, iShares Bitcoin Trust (NASDAQ:IBIT) saw a rise of 1.1%. During the trading session, the company's shares reached a peak of $56.36 and later traded at $55.33. The total volume for the day was approximately 27,383,704 shares, which reflects a 38% drop compared to the average daily volume of 43,851,234 shares. The previous closing price for the stock stood at $54.74.

iShares Bitcoin Trust Price Performance

The value of iShares Bitcoin Trust has also been influenced by recent market trends. As Bitcoin approaches the $100,000 milestone, questions arise about whether it's time to take profits or hold onto investments for further growth. Currently, the company’s fifty-day simple moving average is noted at $56.25, while its two-hundred-day simple moving average is recorded at $45.51.

Institutional Inflows and Outflows

Institutional investors have been actively managing their positions in iShares Bitcoin Trust. For instance, Union Savings Bank invested about $25,000 to purchase a new stake in the fourth quarter. Similarly, Vision Financial Markets LLC also acquired shares valued at $25,000 during the same period. Notably, City Holding Co. made a significant move by increasing its stake by 95.2%, owning 488 shares now worth approximately $26,000 after acquiring additional shares. Other firms like Stephens Consulting LLC and Crewe Advisors LLC have also ramped up their investments by 62.8% and 151.0% respectively within the last quarter, reflecting an overall growing interest in the trust.

iShares Bitcoin Trust Company Profile

iShares Bitcoin Trust (IBIT) is an exchange-traded fund (ETF) launched on January 5, 2024, by BlackRock. This fund is designed to primarily invest in long Bitcoin positions while shorting USD currency. It operates as a passively managed fund aiming to track the spot price of Bitcoin.

Bitcoin, Investing, ETFs