REX Bitcoin Corporate Treasury Convertible Bond ETF
BMAX
BMAX was delisted on the 13th of April, 2026.
5 hedge funds and large institutions have $2.14M invested in REX Bitcoin Corporate Treasury Convertible Bond ETF in 2025 Q2 according to their latest regulatory filings, with 3 funds opening new positions, increasing their positions, 1 reducing their positions, and closing their positions.
150% more funds holding
Funds holding: 2 → 5 (+3)
52.52% less ownership
Funds ownership: 73.09% → 20.57% (-53%)
88% less capital invested
Capital invested by funds: $18.5M → $2.14M (-$16.4M)
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 1
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EC
Elequin Capital
New York
|
+$747K |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$122K |
| 3 |
SS
SBI Securities
Tokyo,
Japan
|
+$5.4K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$19.7M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
Jane Street
New York
| $1.23M | -$19.7M | -689,524 | -94% |
|
|
EC
2
Elequin Capital
New York
| $777K | +$747K | +26,160 | New |
|
|
3
UBS Group
Zurich,
Switzerland
| $127K | +$122K | +4,281 | New |
|
|
SS
4
SBI Securities
Tokyo,
Japan
| $5.61K | +$5.4K | +189 | New |
|
5
Osaic Holdings
Scottsdale,
Arizona
| $2.23K | – | – | – |
|
BMAX Hedge Fund Activity: Q2 2025 in Review
5 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) for Q2 2025, worth a combined $2.14M — down 88% from $18.5M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new BMAX positions and 0 closed out — a net gain of 3 holders — while 0 added to existing stakes and 1 trimmed.
The largest buyer was Elequin Capital, opening a new position worth an estimated $747K. The largest seller was Jane Street, cutting an estimated $19.7M.
- 5 institutional investors held REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) as of Q2 2025, up from 2 in Q1 2025.
- Funds reported $2.14M of REX Bitcoin Corporate Treasury Convertible Bond ETF stock for Q2 2025, down 88% quarter-over-quarter.
- 3 funds opened new REX Bitcoin Corporate Treasury Convertible Bond ETF positions in Q2 2025 and 0 closed out, a net change of +3 holders.
- The largest REX Bitcoin Corporate Treasury Convertible Bond ETF buyer in Q2 2025 was Elequin Capital, an estimated $747K added.
- The largest REX Bitcoin Corporate Treasury Convertible Bond ETF seller in Q2 2025 was Jane Street, an estimated $19.7M sold.
Based on aggregated 13F filings for Q2 2025.