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ProShares Bitcoin Strategy ETF
BITO

151 hedge funds and large institutions have $388M invested in ProShares Bitcoin Strategy ETF in 2023 Q1 according to their latest regulatory filings, with 34 funds opening new positions, 41 increasing their positions, 30 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

80% more capital invested

Capital invested by funds: $216M → $388M (+$172M)

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

37% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 30

2.78% more ownership

Funds ownership: 38.47% → 41.24% (+2.8%)

3% more first-time investments, than exits

New positions opened: 34 | Existing positions closed: 33

4% less funds holding

Funds holding: 157 → 151 (-6)

10% less call options, than puts

Call options by funds: $140M | Put options by funds: $155M

Holders
151
Holders Change
-6
Holders Change %
-3.82%
% of All Funds
2.41%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.05%
New
34
Increased
41
Reduced
30
Closed
33
Calls
$140M
Puts
$155M
Net Calls
-$15.9M
Net Calls Change
+$22.1M

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$37.1M
2
Goldman Sachs
Goldman Sachs
New York
+$10.6M
3
Simplex Trading
Simplex Trading
Illinois
+$3.99M
4
SCA
Sassicaia Capital Advisers
New York
+$3.91M
5
FC
Franchise Capital
Cayman Islands
+$3.59M

Top Sellers

Rank Fund Capital Flow
1
FA
Faithward Advisors
Pennsylvania
-$7.37M
2
Jane Street
Jane Street
New York
-$6.16M
3
Barclays
Barclays
United Kingdom
-$4.49M
4
BCM
Bluefin Capital Management
New York
-$2.96M
5
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$2.93M
Name Holding Trade Value Shares
Change 		Change in
Stake
SSA
26
Schonfeld Strategic Advisors
New York
$724K +$593K +41,300 New
AUB
27
Atlantic Union Bankshares
Virginia
$706K – – –
AFS
28
Amtrust Financial Services
New York
$701K – – –
BAM
29
Belpointe Asset Management
Nevada
$627K +$491K +34,213 +2,183%
Cambridge Investment Research Advisors
30
Cambridge Investment Research Advisors
Iowa
$616K -$98.9K -6,885 -16%
WMS
31
Wealth Management Solutions
Pennsylvania
$572K +$469K +32,650 New
SFS
32
Sowell Financial Services
Arkansas
$507K +$50.5K +3,518 +14%
ICP
33
Interchange Capital Partners
Pennsylvania
$478K +$392K +27,300 New
CAC
34
Cowen and Company
New York
$471K +$386K +26,900 New
AWM
35
Axxcess Wealth Management
California
$471K +$386K +26,871 New
CG
36
Cutler Group
California
$459K +$377K +26,243 New
EWA
37
Evolution Wealth Advisors
Florida
$453K – – –
PWS
38
Precision Wealth Strategies
Missouri
$417K -$6.26K -436 -2%
3AM
39
3EDGE Asset Management
Florida
$385K -$304K -21,173 -49%
DI
40
Diligent Investors
California
$362K -$6.46K -450 -2%
RWM
41
Revisor Wealth Management
Ohio
$357K +$293K +20,374 New
ASN
42
Advisory Services Network
Georgia
$352K +$40.4K +2,816 +16%
HKIMG
43
Hutchens & Kramer Investment Management Group
Indiana
$351K +$288K +20,044 New
CCM
44
Chiron Capital Management
Florida
$350K -$4.31K -300 -1%
AC
45
Avestar Capital
New York
$344K -$96.3K -6,706 -25%
DS
46
DRW Securities
Illinois
$342K +$281K +19,549 New
FCH
47
Freestone Capital Holdings
Washington
$340K – – –
Betterment LLC
48
Betterment LLC
New York
$334K +$14.9K +1,039 +6%
AFG
49
Altiora Financial Group
Ohio
$333K +$273K +19,000 New
CIBC Private Wealth Group
50
CIBC Private Wealth Group
Georgia
$314K +$106K +7,352 +70%
1
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3 4 5

BITO Hedge Fund Activity: Q1 2023 in Review

151 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in ProShares Bitcoin Strategy ETF (BITO) for Q1 2023, worth a combined $388M — up 80% from $216M a quarter earlier.

Buyers outnumbered sellers: 34 funds opened new BITO positions and 33 closed out — a net gain of 1 holder — while 41 added to existing stakes and 30 trimmed.

The largest buyer was Susquehanna International Group, adding an estimated $37.1M. The largest seller was Faithward Advisors, cutting an estimated $7.37M.

  • 151 institutional investors held ProShares Bitcoin Strategy ETF (BITO) as of Q1 2023, down from 157 in Q4 2022.
  • Funds reported $388M of ProShares Bitcoin Strategy ETF stock for Q1 2023, up 80% quarter-over-quarter.
  • 34 funds opened new ProShares Bitcoin Strategy ETF positions in Q1 2023 and 33 closed out, a net change of +1 holder.
  • The largest ProShares Bitcoin Strategy ETF buyer in Q1 2023 was Susquehanna International Group, an estimated $37.1M added.
  • The largest ProShares Bitcoin Strategy ETF seller in Q1 2023 was Faithward Advisors, an estimated $7.37M sold.

Based on aggregated 13F filings for Q1 2023.