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Bitwise Bitcoin ETF
BITB

293 hedge funds and large institutions have $1.13B invested in Bitwise Bitcoin ETF in 2025 Q2 according to their latest regulatory filings, with 63 funds opening new positions, 120 increasing their positions, 53 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

271% more first-time investments, than exits

New positions opened: 63 | Existing positions closed: 17

128% more call options, than puts

Call options by funds: $32.6M | Put options by funds: $14.3M

126% more repeat investments, than reductions

Existing positions increased: 120 | Existing positions reduced: 53

56% more capital invested

Capital invested by funds: $722M → $1.13B (+$404M)

56% more funds holding in top 10

Funds holding in top 10: 9 → 14 (+5)

18% more funds holding

Funds holding: 249 → 293 (+44)

4.33% more ownership

Funds ownership: 22.89% → 27.22% (+4.3%)

Holders
293
Holders Change
+44
Holders Change %
+17.67%
% of All Funds
3.86%
Holding in Top 10
14
Holding in Top 10 Change
+5
Holding in Top 10 Change %
+55.56%
% of All Funds
0.18%
New
63
Increased
120
Reduced
53
Closed
17
Calls
$32.6M
Puts
$14.3M
Net Calls
+$18.3M
Net Calls Change
+$4.05M

Top Buyers

Rank Fund Capital Flow
1
PC
ParaFi Capital
New York
+$105M
2
SSA
Schonfeld Strategic Advisors
New York
+$53.6M
3
IMC Chicago
IMC Chicago
Illinois
+$27.6M
4
HHGC
Hunting Hill Global Capital
New York
+$11.1M
5
Jane Street
Jane Street
New York
+$10.6M

Top Sellers

Rank Fund Capital Flow
1
PCP
Pantera Capital Partners
California
-$99.3M
2
FCG
Fielder Capital Group
Tennessee
-$9.08M
3
DS
DRW Securities
Illinois
-$7.2M
4
Millennium Management
Millennium Management
New York
-$3.47M
5
BCI
Brinker Capital Investments
Pennsylvania
-$963K
Name Holding Trade Value Shares
Change 		Change in
Stake
CWG
226
Crown Wealth Group
North Carolina
$214K +$196K +3,647 New
PVI
227
Pine Valley Investments
New Jersey
$213K +$195K +3,627 New
JWCA
228
J.W. Cole Advisors
Florida
$211K +$193K +3,597 New
WCG
229
Weaver Consulting Group
California
$208K +$191K +3,551 New
ARG
230
Advisory Resource Group
Oklahoma
$206K +$189K +3,520 New
FGC
231
Financial Gravity Companies
Texas
$184K +$169K +3,145 New
QWM
232
Quaker Wealth Management
New Jersey
$148K +$136K +2,530 New
CWP
233
Clark Wealth Partners
Illinois
$146K – – –
Raymond James Financial
234
Raymond James Financial
Florida
$142K +$130K +2,420 New
PWAM
235
Private Wealth Asset Management
Iowa
$136K – – –
WSFS
236
Wilmington Savings Fund Society
Delaware
$131K – – –
RJA
237
Ross\Johnson & Associates
Minnesota
$124K +$1.23K +23 +1%
GC
238
Garde Capital
Washington
$96.8K – – –
S
239
SignatureFD
Georgia
$70.9K -$1.02K -19 -2%
PA
240
Parallel Advisors
California
$70K – – –
HCM
241
Hollencrest Capital Management
California
$65.9K – – –
FW
242
Fairway Wealth
Ohio
$65K – – –
SIS
243
Sound Income Strategies
Florida
$64.6K – – –
PPC
244
Park Place Capital
Alabama
$59.9K – – –
FDCDDQ
245
Federation des caisses Desjardins du Quebec
Quebec, Canada
$58.6K -$80.5K -1,500 -60%
AA
246
Ancora Advisors
Ohio
$58.6K – – –
MPWT
247
MassMutual Private Wealth & Trust
Connecticut
$58.6K – – –
TWC
248
TD Waterhouse Canada
Ontario, Canada
$57.2K – – –
TPW
249
Talon Private Wealth
Florida
$55K +$50.3K +938 New
PPA
250
Painted Porch Advisors
California
$51.1K – – –
8 9
10
11 12

BITB Hedge Fund Activity: Q2 2025 in Review

293 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Bitwise Bitcoin ETF (BITB) for Q2 2025, worth a combined $1.13B — up 56% from $722M a quarter earlier.

Buyers outnumbered sellers: 63 funds opened new BITB positions and 17 closed out — a net gain of 46 holders — while 120 added to existing stakes and 53 trimmed.

The largest buyer was ParaFi Capital, opening a new position worth an estimated $105M. The largest seller was Pantera Capital Partners, cutting an estimated $99.3M.

  • 293 institutional investors held Bitwise Bitcoin ETF (BITB) as of Q2 2025, up from 249 in Q1 2025.
  • Funds reported $1.13B of Bitwise Bitcoin ETF stock for Q2 2025, up 56% quarter-over-quarter.
  • 63 funds opened new Bitwise Bitcoin ETF positions in Q2 2025 and 17 closed out, a net change of +46 holders.
  • The largest Bitwise Bitcoin ETF buyer in Q2 2025 was ParaFi Capital, an estimated $105M added.
  • The largest Bitwise Bitcoin ETF seller in Q2 2025 was Pantera Capital Partners, an estimated $99.3M sold.

Based on aggregated 13F filings for Q2 2025.