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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
MFA
201
Millington Financial Advisors
Illinois
– -$219K -9,305 Closed
AC
202
Avestar Capital
New York
– -$205K -9,000 Closed
EP
203
Edgestream Partners
New Jersey
– -$201K -8,820 Closed
VVP
204
Venture Visionary Partners
Ohio
– -$122K -5,358 Closed
CJ
205
Caitlin John
Michigan
– -$70.9K -3,114 Closed
NWM
206
Nova Wealth Management
Florida
– -$35.7K -1,565 Closed
CFGS
207
Concourse Financial Group Securities
Alabama
– -$32.5K -1,284 Closed
FLP
208
Financial Life Planners
Arizona
– -$19.8K -871 Closed
DP
209
Denver PWM
Colorado
– -$18.3K -803 Closed
Fifth Third Bancorp
210
Fifth Third Bancorp
Ohio
– -$18.2K -800 Closed
GM
211
GeoWealth Management
Illinois
– -$14.2K -625 Closed
JWA
212
JFS Wealth Advisors
Pennsylvania
– -$13.4K -590 Closed
MRP
213
Measured Risk Portfolios
California
– -$12K -527 Closed
DJSG
214
D.J. St. Germain
Massachusetts
– -$11.9K -524 Closed
Optiver Holding
215
Optiver Holding
Netherlands
– -$11.8K -520 Closed
AA
216
Ancora Advisors
Ohio
– -$11.4K -500 Closed
Jones Financial Companies
217
Jones Financial Companies
Missouri
– -$11.3K -494 Closed
CAWM
218
Capital A Wealth Management
Pennsylvania
– -$3.19K -140 Closed
AWM
219
AE Wealth Management
Kansas
– -$3.1K -136 Closed
CIAS
220
Capital Investment Advisory Services
North Carolina
– -$2.48K -109 Closed
CAS
221
Coppell Advisory Solutions
Texas
– -$2.3K -100 Closed
SC
222
Swan Capital
Florida
– -$1.59K -70 Closed
Citigroup
223
Citigroup
New York
– -$1.23K -54 Closed
IA
224
IFP Advisors
Florida
– -$980 -43 Closed
SAM
225
Synergy Asset Management
Washington
– -$269 -14 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.