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BDCIU

BTC Development Corp Unit
BDCIU

20 hedge funds and large institutions have $21.7M invested in BTC Development Corp Unit in 2025 Q4 according to their latest regulatory filings, with 4 funds opening new positions, 2 increasing their positions, 8 reducing their positions, and 48 closing their positions.

New
Increased
Maintained
Reduced
Closed

9.38% more ownership

Funds ownership: 0% → 9.38% (+9.4%)

69% less funds holding

Funds holding: 65 → 20 (-45)

75% less repeat investments, than reductions

Existing positions increased: 2 | Existing positions reduced: 8

91% less capital invested

Capital invested by funds: $242M → $21.7M (-$220M)

92% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 48

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
20
Holders Change
-45
Holders Change %
-69.23%
% of All Funds
0.24%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
4
Increased
2
Reduced
8
Closed
48
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Stifel Financial
Stifel Financial
Missouri
+$763K
2
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
+$637K
3
Citadel Advisors
Citadel Advisors
Florida
+$103K
4
HF
HRT Financial
New York
+$6.29K
5
UBS Group
UBS Group
Switzerland
+$257

Top Sellers

Rank Fund Capital Flow
1
MC
Meteora Capital
Florida
-$21.3M
2
GCL
Glazer Capital LLC
New York
-$15.4M
3
LA
Linden Advisors
New York
-$11.4M
4
LP
LMR Partners
United Kingdom
-$11.4M
5
TCM
Tenor Capital Management
New York
-$11.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
WAM
51
Weiss Asset Management
Massachusetts
– -$1.51M -150,000 Closed
WRBC
52
W.R. Berkley Corp
Connecticut
– -$1.5M -148,816 Closed
CC
53
Centiva Capital
New York
– -$1.01M -100,000 Closed
DAM
54
DLD Asset Management
New York
– -$1.01M -100,000 Closed
DCM
55
Driehaus Capital Management
Illinois
– -$1.01M -100,000 Closed
Marshall Wace
56
Marshall Wace
United Kingdom
– -$1.01M -100,000 Closed
Parallax Volatility Advisers
57
Parallax Volatility Advisers
California
– -$1.01M -100,000 Closed
WA
58
Whitebox Advisors
Minnesota
– -$1.01M -100,000 Closed
SG
59
StoneX Group
New York
– -$859K -85,000 Closed
MSU
60
Mizuho Securities USA
New York
– -$708K -70,000 Closed
BFM
61
Boothbay Fund Management
New York
– -$555K -54,988 Closed
CA
62
Crossingbridge Advisors
New York
– -$505K -50,000 Closed
JP Morgan Chase
63
JP Morgan Chase
New York
– -$323K -32,000 Closed
VF
64
Virtu Financial
New York
– -$268K -26,548 Closed
PMAM
65
Picton Mahoney Asset Management
Ontario, Canada
– -$202K -20,000 Closed
WAM
66
Wolverine Asset Management
Illinois
– -$202K -20,000 Closed
Calamos Advisors
67
Calamos Advisors
Illinois
– -$199K -19,683 Closed
WAM
68
Warberg Asset Management
Illinois
– -$192K -19,000 Closed
1 2
3

BDCIU Hedge Fund Activity: Q4 2025 in Review

20 of the 8,239 institutional investors tracked by Wall St. Rank reported a position in BTC Development Corp Unit (BDCIU) for Q4 2025, worth a combined $21.7M — down 91% from $242M a quarter earlier.

Sellers outnumbered buyers: 48 funds closed out of BDCIU and 4 opened new positions — a net loss of 44 holders — while 8 trimmed existing stakes and 2 added.

The largest buyer was Stifel Financial, opening a new position worth an estimated $763K. The largest seller was Meteora Capital, cutting an estimated $21.3M.

  • 20 institutional investors held BTC Development Corp Unit (BDCIU) as of Q4 2025, down from 65 in Q3 2025.
  • Funds reported $21.7M of BTC Development Corp Unit stock for Q4 2025, down 91% quarter-over-quarter.
  • 4 funds opened new BTC Development Corp Unit positions in Q4 2025 and 48 closed out, a net change of -44 holders.
  • The largest BTC Development Corp Unit buyer in Q4 2025 was Stifel Financial, an estimated $763K added.
  • The largest BTC Development Corp Unit seller in Q4 2025 was Meteora Capital, an estimated $21.3M sold.

Based on aggregated 13F filings for Q4 2025.