Coinbase
COIN
1,266 hedge funds and large institutions have $33.4B invested in Coinbase in 2025 Q4 according to their latest regulatory filings, with 194 funds opening new positions, 509 increasing their positions, 410 reducing their positions, and 230 closing their positions.
24% more repeat investments, than reductions
Existing positions increased: 509 | Existing positions reduced: 410
15% more call options, than puts
Call options by funds: $11.7B | Put options by funds: $10.1B
1.21% less ownership
Funds ownership: 65.88% → 64.67% (-1.2%)
5% less funds holding
Funds holding: 1,330 → 1,266 (-64)
16% less first-time investments, than exits
New positions opened: 194 | Existing positions closed: 230
18% less funds holding in top 10
Funds holding in top 10: 40 → 33 (-7)
30% less capital invested
Capital invested by funds: $47.8B → $33.4B (-$14.4B)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
APM
a16z Perennial Management
Menlo Park,
California
|
+$435M |
| 2 |
Capital World Investors
Los Angeles,
California
|
+$410M |
| 3 |
Invesco
Atlanta,
Georgia
|
+$322M |
| 4 |
BlackRock
New York
|
+$288M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$266M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$886M |
| 2 |
National Bank of Canada
Montreal,
Quebec, Canada
|
-$280M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$187M |
| 4 |
Toronto Dominion Bank
Toronto, Ontario,
Ontario, Canada
|
-$155M |
| 5 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
-$145M |
COIN Hedge Fund Activity: Q4 2025 in Review
1,266 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Coinbase (COIN) for Q4 2025, worth a combined $33.4B — down 30% from $47.8B a quarter earlier.
Sellers outnumbered buyers: 230 funds closed out of COIN and 194 opened new positions — a net loss of 36 holders — while 410 trimmed existing stakes and 509 added.
The largest buyer was a16z Perennial Management, opening a new position worth an estimated $435M. The largest seller was Fidelity Investments, cutting an estimated $886M.
- 1,266 institutional investors held Coinbase (COIN) as of Q4 2025, down from 1,330 in Q3 2025.
- Funds reported $33.4B of Coinbase stock for Q4 2025, down 30% quarter-over-quarter.
- 194 funds opened new Coinbase positions in Q4 2025 and 230 closed out, a net change of -36 holders.
- The largest Coinbase buyer in Q4 2025 was a16z Perennial Management, an estimated $435M added.
- The largest Coinbase seller in Q4 2025 was Fidelity Investments, an estimated $886M sold.
Based on aggregated 13F filings for Q4 2025.