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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
AIC
276
Archer Investment Corporation
Indiana
$5.86K +$5.37K +100 New
GWM
277
Geneos Wealth Management
Colorado
$5.57K -$2.95K -55 -37%
MAS
278
MPWM Advisory Solutions
Georgia
$5.33K – – –
CTC
279
Central Trust Company
Missouri
$4.69K – – –
Northwestern Mutual Wealth Management
280
Northwestern Mutual Wealth Management
Wisconsin
$4.51K -$24.6K -458 -86%
RA
281
Rise Advisors
New York
$2.93K – – –
SRCM
282
Signature Resources Capital Management
California
$2.93K +$2.68K +50 New
AIP
283
Ameritas Investment Partners
Nebraska
$2.11K +$1.93K +36 New
BWL
284
Bogart Wealth LLC
Virginia
$1.88K – – –
BTI
285
Blue Trust Inc
Georgia
$1.64K – – –
ME
286
McIlrath & Eck
Washington
$1.47K – – –
RDFA
287
Ritter Daniher Financial Advisory
Ohio
$1.17K – – –
NB
288
NBT Bank
New York
$1.17K +$1.07K +20 New
AFG
289
Albion Financial Group
Utah
$938 – – –
LWA
290
Lowe Wealth Advisors
Maryland
$937 – – –
NA
291
NewEdge Advisors
Louisiana
$234 – – –
Wells Fargo
292
Wells Fargo
California
$77 -$54 -1 -50%
Morgan Stanley
293
Morgan Stanley
New York
$59 – – –
ODG
294
O'Dell Group
Ohio
– -$918K -20,453 Closed
KA
295
Kerrisdale Advisers
Florida
– -$578K -12,873 Closed
TC
296
TownSquare Capital
Utah
– -$572K -12,747 Closed
Citadel Advisors
297
Citadel Advisors
Florida
– -$565K -10,538 Closed
BJL
298
Brighton Jones LLC
Washington
– -$373K -8,312 Closed
SW
299
SVB Wealth
Massachusetts
– -$247K -5,500 Closed
TSS
300
Two Sigma Securities
New York
– -$243K -5,422 Closed
9 10 11
12
13

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.