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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
PFG
126
Piershale Financial Group
Illinois
$3.07K – – –
BAAM
127
Baker Avenue Asset Management
California
$2.92K – – –
AWM
128
AllSquare Wealth Management
New York
$2.63K – – –
WIM
129
WealthPlan Investment Management
Nebraska
$2.42K +$1.98K +138 New
ME
130
McIlrath & Eck
Washington
$2.35K -$890 -62 -32%
VF
131
VitalStone Financial
Texas
$2K -$3.55K -247 -81%
TWA
132
TCI Wealth Advisors
Arizona
$1.75K – – –
AIP
133
Ahrens Investment Partners
Louisiana
$1.75K +$1.44K +100 New
UBS Group
134
UBS Group
Switzerland
$1.75K +$1.44K +100 New
WP
135
WealthPLAN Partners
Nebraska
$1.42K +$1.16K +81 New
FWM
136
Focused Wealth Management
New York
$1.32K +$14 +1 +1%
DWA
137
Dougherty Wealth Advisers
Minnesota
$1.31K – – –
SSB
138
Sandy Spring Bank
Maryland
$1.28K – – –
FDCDDQ
139
Federation des caisses Desjardins du Quebec
Quebec, Canada
$981 -$57 -4 -7%
BHWM
140
Beaird Harris Wealth Management
Texas
$824 – – –
HI
141
Horizon Investments
North Carolina
$633 +$546 +38 New
WAM
142
Worth Asset Management
Texas
$613 – – –
Commonwealth Equity Services
143
Commonwealth Equity Services
Massachusetts
$526 +$39.5K +2,750 +10%
CFD
144
Creative Financial Designs
Indiana
$446 – – –
HWA
145
Heritage Wealth Advisors
Virginia
$210 -$5.71K -398 -97%
First Manhattan
146
First Manhattan
New York
$210 – – –
BBHC
147
Brown Brothers Harriman & Co
New York
$105 – – –
HWM
148
Horizons Wealth Management
North Carolina
$88 – – –
Fidelity Investments
149
Fidelity Investments
Massachusetts
$35 +$29 +2 New
Jane Street
150
Jane Street
New York
– -$6.16M -590,815 Closed
4 5
6
7 8

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.