Michael Jeremy Venuto, Manager and Chief Investment Officer of Sponsor at Tidal Commodities Trust I (DEFI), recently sold shares of the company's beneficial interest in the Hashdex Bitcoin ETF. The transaction, dated November 20, involved the sale of 498.016 shares at a weighted average price of $107.08, totaling approximately $53,327.
The shares were sold in multiple transactions, with prices ranging from $106.63 to $107.35. Following this sale, Venuto holds no shares of the ETF. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
Recent market data from InvestingPro sheds light on the performance of the Hashdex Bitcoin ETF (DEFI) following Michael Jeremy Venuto's share sale. The ETF has shown remarkable momentum, with a 1-month price total return of 44.68% and a 3-month return of 61.64% as of the latest data. This strong performance extends to the year-to-date period, with DEFI posting an impressive 119.3% return.
The ETF's current price stands at $111.82, reflecting continued investor interest despite the recent insider sale. This price point represents a significant increase from the $107.08 weighted average price at which Venuto sold his shares, suggesting that the market has remained bullish on the fund's prospects.
InvestingPro Tips highlight additional insights for investors considering DEFI. With 8 more tips available on InvestingPro, subscribers can gain a deeper understanding of the ETF's potential. These tips could provide valuable context for the recent insider transaction and help investors navigate the volatile cryptocurrency-related investment landscape.
The strong performance metrics and available InvestingPro Tips underscore the importance of comprehensive analysis when evaluating ETFs in the rapidly evolving digital asset space. Investors seeking to make informed decisions about DEFI or similar funds may find the additional insights offered by InvestingPro particularly useful in light of recent market movements and insider activities.
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