REX Bitcoin Corporate Treasury Convertible Bond ETF
BMAX
BMAX was delisted on the 13th of April, 2026.
3 hedge funds and large institutions have $1.25M invested in REX Bitcoin Corporate Treasury Convertible Bond ETF in 2025 Q4 according to their latest regulatory filings, with 0 funds opening new positions, 3 increasing their positions, 0 reducing their positions, and 3 closing their positions.
131% more capital invested
Capital invested by funds: $541K → $1.25M (+$707K)
15.32% more ownership
Funds ownership: 6.35% → 21.67% (+15%)
50% less funds holding
Funds holding: 6 → 3 (-3)
100% less first-time investments, than exits
New positions opened: 0 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EC
Elequin Capital
New York
|
+$525K |
| 2 |
Jane Street
New York
|
+$384K |
| 3 |
SS
SBI Securities
Tokyo,
Japan
|
+$1.12K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$15.9K |
| 2 |
Osaic Holdings
Scottsdale,
Arizona
|
-$2.07K |
| 3 |
Simplex Trading
Chicago,
Illinois
|
-$1K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
Jane Street
New York
| $770K | +$384K | +15,101 | +83% |
|
|
EC
2
Elequin Capital
New York
| $476K | +$525K | +20,655 | +137,700% |
|
|
SS
3
SBI Securities
Tokyo,
Japan
| $2.28K | +$1.12K | +44 | +80% |
|
|
4
UBS Group
Zurich,
Switzerland
| – | -$15.9K | -559 | Closed |
|
|
5
Osaic Holdings
Scottsdale,
Arizona
| – | -$2.07K | -75 | Closed |
|
|
6
Simplex Trading
Chicago,
Illinois
| – | -$1K | -48 | Closed |
|
BMAX Hedge Fund Activity: Q4 2025 in Review
3 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) for Q4 2025, worth a combined $1.25M — up 131% from $541K a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of BMAX and 0 opened new positions — a net loss of 3 holders — while 0 trimmed existing stakes and 3 added.
The largest buyer was Elequin Capital, adding an estimated $525K. The largest seller was UBS Group, exiting entirely with an estimated $15.9K sold.
- 3 institutional investors held REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) as of Q4 2025, down from 6 in Q3 2025.
- Funds reported $1.25M of REX Bitcoin Corporate Treasury Convertible Bond ETF stock for Q4 2025, up 131% quarter-over-quarter.
- 0 funds opened new REX Bitcoin Corporate Treasury Convertible Bond ETF positions in Q4 2025 and 3 closed out, a net change of -3 holders.
- The largest REX Bitcoin Corporate Treasury Convertible Bond ETF buyer in Q4 2025 was Elequin Capital, an estimated $525K added.
- The largest REX Bitcoin Corporate Treasury Convertible Bond ETF seller in Q4 2025 was UBS Group, an estimated $15.9K sold.
Based on aggregated 13F filings for Q4 2025.