Horizon Kinetics Blockchain Development ETF
BCDF
12 hedge funds and large institutions have $10.4M invested in Horizon Kinetics Blockchain Development ETF in 2025 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 7 increasing their positions, 2 reducing their positions, and 1 closing their positions.
250% more repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 2
100% more first-time investments, than exits
New positions opened: 2 | Existing positions closed: 1
67% more capital invested
Capital invested by funds: $6.23M → $10.4M (+$4.2M)
9.22% more ownership
Funds ownership: 46.58% → 55.81% (+9.2%)
9% more funds holding
Funds holding: 11 → 12 (+1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ASN
Advisory Services Network
Atlanta,
Georgia
|
+$1.46M |
| 2 |
HighTower Advisors
Chicago,
Illinois
|
+$688K |
| 3 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$555K |
| 4 |
FTUS
Flow Traders U.S.
New York
|
+$300K |
| 5 |
ECM
EagleClaw Capital Management
Boston,
Massachusetts
|
+$249K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
Adalta Capital Management
New York
|
-$123K |
| 2 |
MC
Moors & Cabot
Boston,
Massachusetts
|
-$25K |
| 3 |
CBA
Coastal Bridge Advisors
Westport,
Connecticut
|
-$7.65K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
HKAM
1
Horizon Kinetics Asset Management
New York
| $4.7M | +$555K | +18,839 | +14% |
|
|
ASN
2
Advisory Services Network
Atlanta,
Georgia
| $1.97M | +$1.46M | +49,606 | +362% |
|
|
3
HighTower Advisors
Chicago,
Illinois
| $729K | +$688K | +23,380 | New |
|
|
ECM
4
EagleClaw Capital Management
Boston,
Massachusetts
| $642K | +$249K | +8,468 | +70% |
|
|
MC
5
Moors & Cabot
Boston,
Massachusetts
| $542K | -$25K | -850 | -5% |
|
6
Jane Street
New York
| $425K | +$57.7K | +1,961 | +17% |
|
|
CBA
7
Coastal Bridge Advisors
Westport,
Connecticut
| $411K | -$7.65K | -260 | -2% |
|
|
AWP
8
Atlas Wealth Partners
Wyomissing,
Pennsylvania
| $388K | +$124K | +4,228 | +51% |
|
|
FTUS
9
Flow Traders U.S.
New York
| $318K | +$300K | +10,197 | New |
|
|
OCPWS
10
One Charles Private Wealth Services
Hingham,
Massachusetts
| $306K | +$1.41K | +48 | +0.5% |
|
11
Osaic Holdings
Scottsdale,
Arizona
| $3.46K | +$1.47K | +50 | +82% |
|
12
Morgan Stanley
New York
| $33 | – | – | – |
|
|
ACM
13
Adalta Capital Management
New York
| – | -$123K | -4,425 | Closed |
|
BCDF Hedge Fund Activity: Q2 2025 in Review
12 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Horizon Kinetics Blockchain Development ETF (BCDF) for Q2 2025, worth a combined $10.4M — up 67% from $6.23M a quarter earlier.
Buyers outnumbered sellers: 2 funds opened new BCDF positions and 1 closed out — a net gain of 1 holder — while 7 added to existing stakes and 2 trimmed.
The largest buyer was Advisory Services Network, adding an estimated $1.46M. The largest seller was Adalta Capital Management, exiting entirely with an estimated $123K sold.
- 12 institutional investors held Horizon Kinetics Blockchain Development ETF (BCDF) as of Q2 2025, up from 11 in Q1 2025.
- Funds reported $10.4M of Horizon Kinetics Blockchain Development ETF stock for Q2 2025, up 67% quarter-over-quarter.
- 2 funds opened new Horizon Kinetics Blockchain Development ETF positions in Q2 2025 and 1 closed out, a net change of +1 holder.
- The largest Horizon Kinetics Blockchain Development ETF buyer in Q2 2025 was Advisory Services Network, an estimated $1.46M added.
- The largest Horizon Kinetics Blockchain Development ETF seller in Q2 2025 was Adalta Capital Management, an estimated $123K sold.
Based on aggregated 13F filings for Q2 2025.