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ProShares Bitcoin Strategy ETF
BITO

189 hedge funds and large institutions have $771M invested in ProShares Bitcoin Strategy ETF in 2023 Q4 according to their latest regulatory filings, with 61 funds opening new positions, 52 increasing their positions, 36 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

210% more capital invested

Capital invested by funds: $248M → $771M (+$522M)

165% more first-time investments, than exits

New positions opened: 61 | Existing positions closed: 23

67% more funds holding in top 10

Funds holding in top 10: 3 → 5 (+2)

44% more repeat investments, than reductions

Existing positions increased: 52 | Existing positions reduced: 36

24% more funds holding

Funds holding: 153 → 189 (+36)

20.81% more ownership

Funds ownership: 27.47% → 48.28% (+21%)

7% more call options, than puts

Call options by funds: $135M | Put options by funds: $126M

Holders
189
Holders Change
+36
Holders Change %
+23.53%
% of All Funds
2.76%
Holding in Top 10
5
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+66.67%
% of All Funds
0.07%
New
61
Increased
52
Reduced
36
Closed
23
Calls
$135M
Puts
$126M
Net Calls
+$9.38M
Net Calls Change
-$23.2M

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$101M
2
AIM
ARK Investment Management
Florida
+$82.3M
3
Jane Street
Jane Street
New York
+$67.7M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$63.7M
5
Simplex Trading
Simplex Trading
Illinois
+$9.56M

Top Sellers

Rank Fund Capital Flow
1
AA
Acorns Advisers
California
-$2.22M
2
TRCT
Tower Research Capital (TRC)
New York
-$2.2M
3
WAM
Weiss Asset Management
Massachusetts
-$1.96M
4
PWM
Pinnacle Wealth Management
California
-$1.84M
5
IPW
Impact Partnership Wealth
Georgia
-$1.82M
Name Holding Trade Value Shares
Change 		Change in
Stake
PCM
151
Penserra Capital Management
California
$7K +$6.3K +348 New
PO
152
Private Ocean
California
$6.43K +$5.68K +314 New
HFS
153
Hantz Financial Services
Michigan
$6K – – –
TWM
154
Tradition Wealth Management
Minnesota
$6K – – –
WWM
155
Wolff Wiese Magana
California
$5.8K – – –
CPG
156
Cornerstone Planning Group
New Jersey
$5.12K – – –
HCM
157
Hollencrest Capital Management
California
$5.12K – – –
MSFP
158
Mark Sheptoff Financial Planning
Connecticut
$5.12K – – –
BCV
159
Banque Cantonale Vaudoise
Switzerland
$5K – – –
NSG
160
Nalls Sherbakoff Group
Tennessee
$4.98K – – –
SWM
161
Spire Wealth Management
Virginia
$4.5K +$651 +36 +19%
AWM
162
AllSquare Wealth Management
New York
$3.07K – – –
BFEC
163
Benjamin F. Edwards & Company
Missouri
$3K – – –
ME
164
McIlrath & Eck
Washington
$2.75K – – –
SS
165
Sunbelt Securities
Texas
$2.6K – – –
Northwestern Mutual Wealth Management
166
Northwestern Mutual Wealth Management
Wisconsin
$2.56K +$2.26K +125 New
EC
167
EdgeRock Capital
Colorado
$2.19K +$1.92K +106 New
HCP
168
Hexagon Capital Partners
Arkansas
$2.05K – – –
MSWM
169
McGlone Suttner Wealth Management
Wisconsin
$2.05K +$1.81K +100 New
FWM
170
Focused Wealth Management
New York
$1.83K +$36 +2 +2%
DWA
171
Dougherty Wealth Advisers
Minnesota
$1.54K -$1.09K -60 -44%
SSB
172
Sandy Spring Bank
Maryland
$1.5K – – –
Carson Wealth (CWM LLC)
173
Carson Wealth (CWM LLC)
Nebraska
$1K – – –
PP
174
PrairieView Partners
Minnesota
$1K – – –
US Bancorp
175
US Bancorp
Minnesota
$984 -$18.1K -1,000 -95%
5 6
7
8 9

BITO Hedge Fund Activity: Q4 2023 in Review

189 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in ProShares Bitcoin Strategy ETF (BITO) for Q4 2023, worth a combined $771M — up 210% from $248M a quarter earlier.

Buyers outnumbered sellers: 61 funds opened new BITO positions and 23 closed out — a net gain of 38 holders — while 52 added to existing stakes and 36 trimmed.

The largest buyer was Goldman Sachs, adding an estimated $101M. The largest seller was Acorns Advisers, cutting an estimated $2.22M.

  • 189 institutional investors held ProShares Bitcoin Strategy ETF (BITO) as of Q4 2023, up from 153 in Q3 2023.
  • Funds reported $771M of ProShares Bitcoin Strategy ETF stock for Q4 2023, up 210% quarter-over-quarter.
  • 61 funds opened new ProShares Bitcoin Strategy ETF positions in Q4 2023 and 23 closed out, a net change of +38 holders.
  • The largest ProShares Bitcoin Strategy ETF buyer in Q4 2023 was Goldman Sachs, an estimated $101M added.
  • The largest ProShares Bitcoin Strategy ETF seller in Q4 2023 was Acorns Advisers, an estimated $2.22M sold.

Based on aggregated 13F filings for Q4 2023.