Bitwise Bitcoin ETF
BITB
249 hedge funds and large institutions have $722M invested in Bitwise Bitcoin ETF in 2025 Q1 according to their latest regulatory filings, with 51 funds opening new positions, 101 increasing their positions, 50 reducing their positions, and 31 closing their positions.
210% more call options, than puts
Call options by funds: $21M | Put options by funds: $6.76M
102% more repeat investments, than reductions
Existing positions increased: 101 | Existing positions reduced: 50
65% more first-time investments, than exits
New positions opened: 51 | Existing positions closed: 31
6% more funds holding
Funds holding: 234 → 249 (+15)
9.3% less ownership
Funds ownership: 32.19% → 22.89% (-9.3%)
40% less funds holding in top 10
Funds holding in top 10: 15 → 9 (-6)
41% less capital invested
Capital invested by funds: $1.22B → $722M (-$496M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SC
Sculptor Capital
New York
|
+$18.6M |
| 2 |
BHWM
Beaird Harris Wealth Management
Dallas,
Texas
|
+$9.42M |
| 3 |
DS
DRW Securities
Chicago,
Illinois
|
+$8.87M |
| 4 |
MFG
Magnus Financial Group
New York
|
+$8.73M |
| 5 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
+$7.47M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PC
ParaFi Capital
New York
|
-$99.7M |
| 2 |
PCP
Pantera Capital Partners
San Francisco,
California
|
-$83.1M |
| 3 |
Jane Street
New York
|
-$73.2M |
| 4 |
BFM
Boothbay Fund Management
New York
|
-$56.2M |
| 5 |
HHGC
Hunting Hill Global Capital
New York
|
-$31.1M |
BITB Hedge Fund Activity: Q1 2025 in Review
249 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in Bitwise Bitcoin ETF (BITB) for Q1 2025, worth a combined $722M — down 41% from $1.22B a quarter earlier.
Buyers outnumbered sellers: 51 funds opened new BITB positions and 31 closed out — a net gain of 20 holders — while 101 added to existing stakes and 50 trimmed.
The largest buyer was Sculptor Capital, opening a new position worth an estimated $18.6M. The largest seller was ParaFi Capital, exiting entirely with an estimated $99.7M sold.
- 249 institutional investors held Bitwise Bitcoin ETF (BITB) as of Q1 2025, up from 234 in Q4 2024.
- Funds reported $722M of Bitwise Bitcoin ETF stock for Q1 2025, down 41% quarter-over-quarter.
- 51 funds opened new Bitwise Bitcoin ETF positions in Q1 2025 and 31 closed out, a net change of +20 holders.
- The largest Bitwise Bitcoin ETF buyer in Q1 2025 was Sculptor Capital, an estimated $18.6M added.
- The largest Bitwise Bitcoin ETF seller in Q1 2025 was ParaFi Capital, an estimated $99.7M sold.
Based on aggregated 13F filings for Q1 2025.