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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
IWC
201
Integrated Wealth Concepts
Massachusetts
$295K +$270K +5,039 New
FPAS
202
Focus Partners Advisor Solutions
Missouri
$286K +$1.34K +25 +0.5%
BCM
203
Beck Capital Management
Texas
$285K -$5.37K -100 -2%
SW
204
Simplicity Wealth
New Jersey
$281K – – –
PWC
205
PYA Waltman Capital
Tennessee
$276K – – –
AF
206
Allworth Financial
California
$266K +$18.4K +343 +8%
KWA
207
Kingswood Wealth Advisors
California
$264K +$241K +4,499 New
QFMHK
208
Q Fund Management (Hong Kong)
$258K +$10.7K +200 +5%
AI
209
Atria Investments
North Carolina
$247K -$16.7K -312 -7%
SAMT
210
Select Asset Management & Trust
Pennsylvania
$245K +$225K +4,190 New
BWP
211
Balboa Wealth Partners
Arizona
$240K +$220K +4,099 New
AIM
212
Advyzon Investment Management
Illinois
$240K -$104K -1,937 -32%
VFG
213
Valley Financial Group
Pennsylvania
$238K +$218K +4,070 New
GCM
214
Gunderson Capital Management
South Carolina
$231K -$232K -4,323 -52%
Osaic Holdings
215
Osaic Holdings
Arizona
$230K +$135K +2,511 +177%
RA
216
Riversedge Advisors
Delaware
$230K +$211K +3,925 New
CCA
217
Clearwater Capital Advisors
Illinois
$228K +$208K +3,885 New
CWM
218
Congress Wealth Management
Massachusetts
$228K +$208K +3,885 New
CAM
219
Cresset Asset Management
Illinois
$223K +$204K +3,807 New
TWM
220
Tradition Wealth Management
Minnesota
$223K +$204K +3,800 New
CCA
221
Cora Capital Advisors
New Jersey
$220K +$201K +3,750 New
ACA
222
Ascension Capital Advisors
Texas
$216K +$198K +3,695 New
CAI
223
Capital Advisors Inc
Oklahoma
$216K +$198K +3,685 New
SIC
224
Shoker Investment Counsel
Ohio
$216K +$197K +3,681 New
MCM
225
MAI Capital Management
Ohio
$214K – – –
7 8
9
10 11

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.