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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
Citadel Advisors
176
Citadel Advisors
Florida
– -$22.7M -1,046,879 Closed
Belvedere Trading
177
Belvedere Trading
Illinois
– -$3.99M -183,775 Closed
IMC Chicago
178
IMC Chicago
Illinois
– -$2.66M -116,735 Closed
TRCT
179
Tower Research Capital (TRC)
New York
– -$1.53M -67,061 Closed
JF
180
Jump Financial
Illinois
– -$1.14M -50,042 Closed
AFP
181
Ausdal Financial Partners
Iowa
– -$1.01M -44,488 Closed
TIM
182
Total Investment Management
Arizona
– -$879K -38,581 Closed
GCS
183
Gordian Capital (Singapore)
Singapore
– -$866K -38,000 Closed
DS
184
DRW Securities
Illinois
– -$771K -33,834 Closed
SOS
185
Silver Oak Securities
Tennessee
– -$528K -22,957 Closed
SCM
186
Stevens Capital Management
Pennsylvania
– -$501K -22,000 Closed
Renaissance Technologies
187
Renaissance Technologies
New York
– -$472K -20,700 Closed
SC
188
Sepio Capital
Utah
– -$456K -20,000 Closed
PWS
189
Precision Wealth Strategies
Missouri
– -$435K -19,085 Closed
AWS
190
Atria Wealth Solutions
New York
– -$363K -15,917 Closed
PAG
191
Private Advisor Group
New Jersey
– -$354K -15,522 Closed
Cetera Investment Advisers
192
Cetera Investment Advisers
Illinois
– -$314K -13,775 Closed
CP
193
Castleview Partners
Texas
– -$316K -13,311 Closed
TF
194
Trek Financial
Arizona
– -$303K -13,288 Closed
AWA
195
Arete Wealth Advisors
Illinois
– -$275K -12,054 Closed
PA
196
Paragon Advisors
Texas
– -$264K -11,603 Closed
AFG
197
Altiora Financial Group
Ohio
– -$238K -10,448 Closed
Envestnet Asset Management
198
Envestnet Asset Management
Illinois
– -$224K -9,814 Closed
QCM
199
Quantinno Capital Management
New York
– -$223K -9,800 Closed
CW
200
CreativeOne Wealth
Kansas
– -$220K -9,657 Closed
6 7
8
9 10

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.