ProShares Bitcoin Strategy ETF
BITO
201 hedge funds and large institutions have $303M invested in ProShares Bitcoin Strategy ETF in 2025 Q3 according to their latest regulatory filings, with 40 funds opening new positions, 83 increasing their positions, 42 reducing their positions, and 27 closing their positions.
98% more repeat investments, than reductions
Existing positions increased: 83 | Existing positions reduced: 42
48% more first-time investments, than exits
New positions opened: 40 | Existing positions closed: 27
6% more funds holding
Funds holding: 190 → 201 (+11)
3.82% less ownership
Funds ownership: 14.67% → 10.85% (-3.8%)
18% less capital invested
Capital invested by funds: $369M → $303M (-$65.9M)
40% less funds holding in top 10
Funds holding in top 10: 5 → 3 (-2)
64% less call options, than puts
Call options by funds: $54M | Put options by funds: $148M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$30.5M |
| 2 |
AA
Acorns Advisers
Irvine,
California
|
+$13.5M |
| 3 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
+$11.1M |
| 4 |
QC
Quadrature Capital
London,
United Kingdom
|
+$4.87M |
| 5 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
+$1.62M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$35.7M |
| 2 |
RCMF
RK Capital Management (Florida)
Weston,
Florida
|
-$16.3M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$14.6M |
| 4 |
Citadel Advisors
Miami,
Florida
|
-$12.6M |
| 5 |
LWMI
Legacy Wealth Management (Idaho)
Boise,
Idaho
|
-$4.47M |
BITO Hedge Fund Activity: Q3 2025 in Review
201 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in ProShares Bitcoin Strategy ETF (BITO) for Q3 2025, worth a combined $303M — down 18% from $369M a quarter earlier.
Buyers outnumbered sellers: 40 funds opened new BITO positions and 27 closed out — a net gain of 13 holders — while 83 added to existing stakes and 42 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $30.5M. The largest seller was Jane Street, cutting an estimated $35.7M.
- 201 institutional investors held ProShares Bitcoin Strategy ETF (BITO) as of Q3 2025, up from 190 in Q2 2025.
- Funds reported $303M of ProShares Bitcoin Strategy ETF stock for Q3 2025, down 18% quarter-over-quarter.
- 40 funds opened new ProShares Bitcoin Strategy ETF positions in Q3 2025 and 27 closed out, a net change of +13 holders.
- The largest ProShares Bitcoin Strategy ETF buyer in Q3 2025 was Goldman Sachs, an estimated $30.5M added.
- The largest ProShares Bitcoin Strategy ETF seller in Q3 2025 was Jane Street, an estimated $35.7M sold.
Based on aggregated 13F filings for Q3 2025.