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2x Bitcoin ETF
BITX

45 hedge funds and large institutions have $109M invested in 2x Bitcoin ETF in 2025 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 13 increasing their positions, 15 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

8% more capital invested

Capital invested by funds: $102M → $109M (+$7.76M)

1.05% more ownership

Funds ownership: 3.61% → 4.66% (+1.1%)

3% less call options, than puts

Call options by funds: $355M | Put options by funds: $367M

12% less funds holding

Funds holding: 51 → 45 (-6)

13% less repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 15

28% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 18

Holders
45
Holders Change
-6
Holders Change %
-11.76%
% of All Funds
0.59%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
13
Increased
13
Reduced
15
Closed
18
Calls
$355M
Puts
$367M
Net Calls
-$11.8M
Net Calls Change
-$83.9M

Top Buyers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
+$40.4M
2
UBS Group
UBS Group
Switzerland
+$1.55M
3
XSC
X-Square Capital
Puerto Rico
+$1.46M
4
KLCM
KG&L Capital Management
Louisiana
+$1.21M
5
VFM
Vision Financial Markets
Connecticut
+$661K

Top Sellers

Rank Fund Capital Flow
1
DS
DRW Securities
Illinois
-$9.44M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$6.26M
3
IMC Chicago
IMC Chicago
Illinois
-$5.23M
4
Citadel Advisors
Citadel Advisors
Florida
-$4.23M
5
JF
Jump Financial
Illinois
-$4.17M
Name Holding Trade Value Shares
Change 		Change in
Stake
TSS
51
Two Sigma Securities
New York
– -$597K -11,056 Closed
Mercer Global Advisors
52
Mercer Global Advisors
Colorado
– -$289K -5,358 Closed
EWM
53
Empirical Wealth Management
Washington
– -$277K -5,120 Closed
AWM
54
Apollon Wealth Management
South Carolina
– -$220K -4,075 Closed
Wealth Enhancement Advisory Services
55
Wealth Enhancement Advisory Services
Minnesota
– -$200K -3,597 Closed
HT
56
Headlands Technologies
Illinois
– -$118K -2,176 Closed
TIM
57
Total Investment Management
Arizona
– -$10.8K -200 Closed
TSMHT
58
Thurston Springer Miller Herd & Titak
Indiana
– -$5.4K -100 Closed
NS
59
NBC Securities
Alabama
– -$4K -90 Closed
NECFA
60
New England Capital Financial Advisors
Connecticut
– -$3.4K -63 Closed
FDCDDQ
61
Federation des caisses Desjardins du Quebec
Quebec, Canada
– -$2.97K -55 Closed
Raymond James Financial
62
Raymond James Financial
Florida
– -$1.62K -30 Closed
LWMI
63
Legacy Wealth Management (Idaho)
Idaho
– -$681 -13 Closed
1 2
3

BITX Hedge Fund Activity: Q3 2025 in Review

45 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in 2x Bitcoin ETF (BITX) for Q3 2025, worth a combined $109M — up 7.6% from $102M a quarter earlier.

Sellers outnumbered buyers: 18 funds closed out of BITX and 13 opened new positions — a net loss of 5 holders — while 15 trimmed existing stakes and 13 added.

The largest buyer was Jane Street, adding an estimated $40.4M. The largest seller was DRW Securities, cutting an estimated $9.44M.

  • 45 institutional investors held 2x Bitcoin ETF (BITX) as of Q3 2025, down from 51 in Q2 2025.
  • Funds reported $109M of 2x Bitcoin ETF stock for Q3 2025, up 7.6% quarter-over-quarter.
  • 13 funds opened new 2x Bitcoin ETF positions in Q3 2025 and 18 closed out, a net change of -5 holders.
  • The largest 2x Bitcoin ETF buyer in Q3 2025 was Jane Street, an estimated $40.4M added.
  • The largest 2x Bitcoin ETF seller in Q3 2025 was DRW Securities, an estimated $9.44M sold.

Based on aggregated 13F filings for Q3 2025.