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ProShares Bitcoin Strategy ETF
BITO

175 hedge funds and large institutions have $341M invested in ProShares Bitcoin Strategy ETF in 2025 Q1 according to their latest regulatory filings, with 32 funds opening new positions, 67 increasing their positions, 41 reducing their positions, and 51 closing their positions.

New
Increased
Maintained
Reduced
Closed

63% more repeat investments, than reductions

Existing positions increased: 67 | Existing positions reduced: 41

0% more funds holding in top 10

Funds holding in top 10: 5 → 5 (0)

5.49% less ownership

Funds ownership: 21.27% → 15.78% (-5.5%)

11% less funds holding

Funds holding: 197 → 175 (-22)

29% less call options, than puts

Call options by funds: $106M | Put options by funds: $150M

29% less capital invested

Capital invested by funds: $484M → $341M (-$143M)

37% less first-time investments, than exits

New positions opened: 32 | Existing positions closed: 51

Holders
175
Holders Change
-22
Holders Change %
-11.17%
% of All Funds
2.35%
Holding in Top 10
5
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.07%
New
32
Increased
67
Reduced
41
Closed
51
Calls
$106M
Puts
$150M
Net Calls
-$44M
Net Calls Change
-$86.2M

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$107M
2
AA
Acorns Advisers
California
+$11.1M
3
RCMF
RK Capital Management (Florida)
Florida
+$7.63M
4
Group One Trading
Group One Trading
Illinois
+$4.75M
5
Simplex Trading
Simplex Trading
Illinois
+$3.01M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$95.5M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$51.7M
3
Citadel Advisors
Citadel Advisors
Florida
-$22.7M
4
SSG
Summit Securities Group
New York
-$6.73M
5
Belvedere Trading
Belvedere Trading
Illinois
-$3.99M
Name Holding Trade Value Shares
Change 		Change in
Stake
AWM
151
Activest Wealth Management
Florida
$2.96K +$87 +4 +5%
RBC
152
Roble Belko & Company
Pennsylvania
$2K – – –
APW
153
Aventura Private Wealth
Florida
$1.79K +$2.13K +98 New
RL
154
Rogco LP
Oklahoma
$1.65K +$1.95K +90 New
WWM
155
Wolff Wiese Magana
California
$1.52K +$65 +3 +4%
MEG
156
Millstone Evans Group
Colorado
$1.45K +$716 +33 +72%
SSB
157
Sandy Spring Bank
Maryland
$1.34K – – –
SIS
158
Sound Income Strategies
Florida
$1.3K – – –
Barclays
159
Barclays
United Kingdom
$1.28K -$78.2K -3,601 -98%
CA
160
CoreCap Advisors
Michigan
$1.16K -$31.2K -1,439 -96%
CFD
161
Creative Financial Designs
Indiana
$1.11K +$87 +4 +7%
VNA
162
Valley National Advisers
Pennsylvania
$1K – – –
Comerica Bank
163
Comerica Bank
Texas
$732 – – –
SAM
164
Smartleaf Asset Management
Massachusetts
$335 -$195 -9 -33%
RF
165
Rossby Financial
Florida
$332 +$347 +16 New
AWM
166
Abound Wealth Management
Tennessee
$280 +$326 +15 New
HWA
167
Heritage Wealth Advisors
Virginia
$220 – – –
DFA
168
DHJJ Financial Advisors
Illinois
$184 – – –
GJIA
169
Glass Jacobson Investment Advisors
Maryland
$92 – – –
CWM
170
Crowley Wealth Management
Delaware
$92 +$109 +5 New
CW
171
Curio Wealth
Maryland
$91 -$65 -3 -75%
Morgan Stanley
172
Morgan Stanley
New York
$25 -$109 -5 -83%
Parallax Volatility Advisers
173
Parallax Volatility Advisers
California
$18 – – –
SWIM
174
Smallwood Wealth Investment Management
New Jersey
$18 +$22 +1 New
CVM
175
Cheviot Value Management
California
$5 – – –
5 6
7
8 9

BITO Hedge Fund Activity: Q1 2025 in Review

175 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in ProShares Bitcoin Strategy ETF (BITO) for Q1 2025, worth a combined $341M — down 29% from $484M a quarter earlier.

Sellers outnumbered buyers: 51 funds closed out of BITO and 32 opened new positions — a net loss of 19 holders — while 41 trimmed existing stakes and 67 added.

The largest buyer was Goldman Sachs, adding an estimated $107M. The largest seller was Jane Street, cutting an estimated $95.5M.

  • 175 institutional investors held ProShares Bitcoin Strategy ETF (BITO) as of Q1 2025, down from 197 in Q4 2024.
  • Funds reported $341M of ProShares Bitcoin Strategy ETF stock for Q1 2025, down 29% quarter-over-quarter.
  • 32 funds opened new ProShares Bitcoin Strategy ETF positions in Q1 2025 and 51 closed out, a net change of -19 holders.
  • The largest ProShares Bitcoin Strategy ETF buyer in Q1 2025 was Goldman Sachs, an estimated $107M added.
  • The largest ProShares Bitcoin Strategy ETF seller in Q1 2025 was Jane Street, an estimated $95.5M sold.

Based on aggregated 13F filings for Q1 2025.