Bitwise Bitcoin and Ether Equal Weight Strategy ETF
BTOP
BTOP was delisted on the 21st of May, 2026.
4 hedge funds and large institutions have $865K invested in Bitwise Bitcoin and Ether Equal Weight Strategy ETF in 2025 Q4 according to their latest regulatory filings, with 3 funds opening new positions, 0 increasing their positions, 1 reducing their positions, and 1 closing their positions.
200% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 1
33% more funds holding
Funds holding: 3 → 4 (+1)
21.81% less ownership
Funds ownership: 36.85% → 15.03% (-22%)
62% less capital invested
Capital invested by funds: $2.3M → $865K (-$1.43M)
96% less call options, than puts
Call options by funds: $6K | Put options by funds: $155K
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 1
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTUS
Flow Traders U.S.
New York
|
+$553K |
| 2 |
Simplex Trading
Chicago,
Illinois
|
+$131K |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
+$223 |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$756K |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$9.03K |
BTOP Hedge Fund Activity: Q4 2025 in Review
4 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) for Q4 2025, worth a combined $865K — down 62% from $2.3M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new BTOP positions and 1 closed out — a net gain of 2 holders — while 0 added to existing stakes and 1 trimmed.
The largest buyer was Flow Traders U.S., opening a new position worth an estimated $553K. The largest seller was Jane Street, exiting entirely with an estimated $756K sold.
- 4 institutional investors held Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) as of Q4 2025, up from 3 in Q3 2025.
- Funds reported $865K of Bitwise Bitcoin and Ether Equal Weight Strategy ETF stock for Q4 2025, down 62% quarter-over-quarter.
- 3 funds opened new Bitwise Bitcoin and Ether Equal Weight Strategy ETF positions in Q4 2025 and 1 closed out, a net change of +2 holders.
- The largest Bitwise Bitcoin and Ether Equal Weight Strategy ETF buyer in Q4 2025 was Flow Traders U.S., an estimated $553K added.
- The largest Bitwise Bitcoin and Ether Equal Weight Strategy ETF seller in Q4 2025 was Jane Street, an estimated $756K sold.
Based on aggregated 13F filings for Q4 2025.