2x Bitcoin ETF
BITX
46 hedge funds and large institutions have $68.7M invested in 2x Bitcoin ETF in 2025 Q1 according to their latest regulatory filings, with 19 funds opening new positions, 15 increasing their positions, 9 reducing their positions, and 19 closing their positions.
67% more repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 9
0% more first-time investments, than exits
New positions opened: 19 | Existing positions closed: 19
3% less call options, than puts
Call options by funds: $168M | Put options by funds: $173M
2% less funds holding
Funds holding: 47 → 46 (-1)
3.71% less ownership
Funds ownership: 7.28% → 3.57% (-3.7%)
70% less capital invested
Capital invested by funds: $230M → $68.7M (-$161M)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$14.1M |
| 2 |
DS
DRW Securities
Chicago,
Illinois
|
+$5.83M |
| 3 |
Wolverine Trading
Chicago,
Illinois
|
+$2.52M |
| 4 |
FSA
Financial Sense Advisors
San Diego,
California
|
+$1.41M |
| 5 |
IMC Chicago
Chicago,
Illinois
|
+$1.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$103M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$26.5M |
| 3 |
QFMHK
Q Fund Management (Hong Kong)
Hong Kong,
|
-$10.2M |
| 4 |
HighTower Advisors
Chicago,
Illinois
|
-$4.12M |
| 5 |
JC
JBF Capital
Aspen,
Colorado
|
-$3.88M |
BITX Hedge Fund Activity: Q1 2025 in Review
46 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in 2x Bitcoin ETF (BITX) for Q1 2025, worth a combined $68.7M — down 70% from $230M a quarter earlier.
Fund positioning in BITX was balanced in Q1 2025: 19 funds opened new positions, 19 closed out, 15 added to existing stakes and 9 trimmed.
The largest buyer was Susquehanna International Group, adding an estimated $14.1M. The largest seller was Jane Street, cutting an estimated $103M.
- 46 institutional investors held 2x Bitcoin ETF (BITX) as of Q1 2025, down from 47 in Q4 2024.
- Funds reported $68.7M of 2x Bitcoin ETF stock for Q1 2025, down 70% quarter-over-quarter.
- 19 funds opened new 2x Bitcoin ETF positions in Q1 2025 and 19 closed out, a net change of 0 holders.
- The largest 2x Bitcoin ETF buyer in Q1 2025 was Susquehanna International Group, an estimated $14.1M added.
- The largest 2x Bitcoin ETF seller in Q1 2025 was Jane Street, an estimated $103M sold.
Based on aggregated 13F filings for Q1 2025.