Coinshares Bitcoin ETF
BRRR
15 hedge funds and large institutions have $438M invested in Coinshares Bitcoin ETF in 2025 Q4 according to their latest regulatory filings, with 1 funds opening new positions, 9 increasing their positions, 2 reducing their positions, and 7 closing their positions.
350% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 2
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
25% less capital invested
Capital invested by funds: $582M → $438M (-$145M)
29% less funds holding
Funds holding: 21 → 15 (-6)
86% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 7
100% less call options, than puts
Call options by funds: $0 | Put options by funds: $191K
820.6% less ownership
Funds ownership: 45,053.39% → 44,232.79% (-821%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$8.98M |
| 2 |
MIH
Meitav Investment House
Bene-Beraq,
Israel
|
+$625K |
| 3 |
CI
CPR Investments
Rochester,
Michigan
|
+$504K |
| 4 |
FC
Farringdon Capital
London,
United Kingdom
|
+$317K |
| 5 |
HIIFS
Harel Insurance Investments & Financial Services
Ramat Gan,
Israel
|
+$244K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EC
Elequin Capital
New York
|
-$15.8M |
| 2 |
IMC Chicago
Chicago,
Illinois
|
-$1.9M |
| 3 |
RL
RPO LLC
Stamford,
Connecticut
|
-$1.75M |
| 4 |
VF
Virtu Financial
New York
|
-$989K |
| 5 |
Jane Street
New York
|
-$384K |
BRRR Hedge Fund Activity: Q4 2025 in Review
15 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Coinshares Bitcoin ETF (BRRR) for Q4 2025, worth a combined $438M — down 25% from $582M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of BRRR and 1 opened new positions — a net loss of 6 holders — while 2 trimmed existing stakes and 9 added.
The largest buyer was Susquehanna International Group, adding an estimated $8.98M. The largest seller was Elequin Capital, cutting an estimated $15.8M.
- 15 institutional investors held Coinshares Bitcoin ETF (BRRR) as of Q4 2025, down from 21 in Q3 2025.
- Funds reported $438M of Coinshares Bitcoin ETF stock for Q4 2025, down 25% quarter-over-quarter.
- 1 fund opened new Coinshares Bitcoin ETF positions in Q4 2025 and 7 closed out, a net change of -6 holders.
- The largest Coinshares Bitcoin ETF buyer in Q4 2025 was Susquehanna International Group, an estimated $8.98M added.
- The largest Coinshares Bitcoin ETF seller in Q4 2025 was Elequin Capital, an estimated $15.8M sold.
Based on aggregated 13F filings for Q4 2025.