Invesco Galaxy Bitcoin ETF
BTCO
65 hedge funds and large institutions have $208M invested in Invesco Galaxy Bitcoin ETF in 2025 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 23 increasing their positions, 12 reducing their positions, and 11 closing their positions.
3,867% more call options, than puts
Call options by funds: $357K | Put options by funds: $9K
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
92% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 12
1.79% more ownership
Funds ownership: 27.53% → 29.32% (+1.8%)
0% more funds holding
Funds holding: 65 → 65 (0)
0% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 11
19% less capital invested
Capital invested by funds: $256M → $208M (-$47.4M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GI
Gradient Investments
Arden Hills,
Minnesota
|
+$41.4M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$2.67M |
| 3 |
BFA
Brown Financial Advisors
Milford,
Ohio
|
+$2.21M |
| 4 |
KCFA
Key Client Fiduciary Advisors
Fairfield,
New Jersey
|
+$1.84M |
| 5 |
FC
Farringdon Capital
London,
United Kingdom
|
+$1.67M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
-$33M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$8.95M |
| 3 |
VF
Virtu Financial
New York
|
-$7.42M |
| 4 |
Renaissance Technologies
New York
|
-$1.17M |
| 5 |
Jane Street
New York
|
-$716K |
BTCO Hedge Fund Activity: Q4 2025 in Review
65 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Invesco Galaxy Bitcoin ETF (BTCO) for Q4 2025, worth a combined $208M — down 19% from $256M a quarter earlier.
Fund positioning in BTCO was balanced in Q4 2025: 11 funds opened new positions, 11 closed out, 23 added to existing stakes and 12 trimmed.
The largest buyer was Gradient Investments, opening a new position worth an estimated $41.4M. The largest seller was Tidal Investments, exiting entirely with an estimated $33M sold.
- 65 institutional investors held Invesco Galaxy Bitcoin ETF (BTCO) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $208M of Invesco Galaxy Bitcoin ETF stock for Q4 2025, down 19% quarter-over-quarter.
- 11 funds opened new Invesco Galaxy Bitcoin ETF positions in Q4 2025 and 11 closed out, a net change of 0 holders.
- The largest Invesco Galaxy Bitcoin ETF buyer in Q4 2025 was Gradient Investments, an estimated $41.4M added.
- The largest Invesco Galaxy Bitcoin ETF seller in Q4 2025 was Tidal Investments, an estimated $33M sold.
Based on aggregated 13F filings for Q4 2025.