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Fidelity Wise Origin Bitcoin Fund
FBTC

682 hedge funds and large institutions have $4.44B invested in Fidelity Wise Origin Bitcoin Fund in 2025 Q3 according to their latest regulatory filings, with 102 funds opening new positions, 341 increasing their positions, 115 reducing their positions, and 30 closing their positions.

New
Increased
Maintained
Reduced
Closed

240% more first-time investments, than exits

New positions opened: 102 | Existing positions closed: 30

197% more repeat investments, than reductions

Existing positions increased: 341 | Existing positions reduced: 115

10% more funds holding

Funds holding: 620 → 682 (+62)

4% more funds holding in top 10

Funds holding in top 10: 45 → 47 (+2)

3.4% less ownership

Funds ownership: 32.78% → 29.38% (-3.4%)

5% less capital invested

Capital invested by funds: $4.67B → $4.44B (-$236M)

36% less call options, than puts

Call options by funds: $375M | Put options by funds: $582M

Holders
682
Holders Change
+62
Holders Change %
+10%
% of All Funds
8.95%
Holding in Top 10
47
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+4.44%
% of All Funds
0.62%
New
102
Increased
341
Reduced
115
Closed
30
Calls
$375M
Puts
$582M
Net Calls
-$207M
Net Calls Change
-$104M

Top Buyers

1
CM
Capula Management
Cayman Islands
+$61.5M
2
Millennium Management
Millennium Management
New York
+$41.4M
3
IMC Chicago
IMC Chicago
Illinois
+$28.3M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$24.7M
5
GPC
Guardian Point Capital
Virginia
+$20M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$367M
2
SSA
Schonfeld Strategic Advisors
New York
-$247M
3
Jane Street
Jane Street
New York
-$194M
4
HI
HBK Investments
Texas
-$44.9M
5
Wellington Management Group
Wellington Management Group
Massachusetts
-$29.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
VC
351
Vestor Capital
Illinois
$568K +$335K +3,349 +143%
WPC
352
Wedmont Private Capital
Pennsylvania
$568K -$200K -2,000 -27%
HKAM
353
Horizon Kinetics Asset Management
New York
$567K – – –
IA
354
IFP Advisors
Florida
$563K +$3.8K +38 +0.7%
EWM
355
Endowment Wealth Management
Wisconsin
$559K +$89.5K +896 +19%
TA
356
Tectonic Advisors
Texas
$557K +$224K +2,241 +67%
SMA
357
Sage Mountain Advisors
Georgia
$549K – – –
FFS
358
Founders Financial Securities
Maryland
$548K +$32K +320 +6%
RF
359
Robinswood Financial
Washington
$548K – – –
AIM
360
Advyzon Investment Management
Illinois
$546K -$13.3K -133 -2%
CPA
361
Capital Performance Advisors
California
$546K +$200K +2,000 +58%
TWG
362
The Wealth Group
Minnesota
$546K -$6.99K -70 -1%
SC
363
Scotia Capital
Ontario, Canada
$545K +$155K +1,552 +40%
KLCM
364
KG&L Capital Management
Louisiana
$542K +$543K +5,431 New
IW
365
Instrumental Wealth
Florida
$537K +$139K +1,395 +32%
CPA
366
Cardiff Park Advisors
California
$531K – – –
BCA
367
Bay Colony Advisors
Massachusetts
$528K -$8.89K -89 -2%
CG
368
CFO4Life Group
Texas
$521K +$212K +2,124 +69%
ANTB
369
AMG National Trust Bank
Colorado
$520K – – –
IAS
370
Insigneo Advisory Services
Florida
$519K -$176K -1,759 -25%
SWIM
371
Smallwood Wealth Investment Management
New Jersey
$514K – – –
RIS
372
Retirement Income Solutions
Michigan
$512K +$74.2K +743 +17%
CFP
373
Cascade Financial Partners
California
$508K +$34.2K +342 +7%
OFS
374
OneAscent Financial Services
Alabama
$506K +$12.3K +123 +2%
IWA
375
IVC Wealth Advisors
Pennsylvania
$505K – – –
13 14
15
16 17

FBTC Hedge Fund Activity: Q3 2025 in Review

682 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Fidelity Wise Origin Bitcoin Fund (FBTC) for Q3 2025, worth a combined $4.44B — down 5% from $4.67B a quarter earlier.

Buyers outnumbered sellers: 102 funds opened new FBTC positions and 30 closed out — a net gain of 72 holders — while 341 added to existing stakes and 115 trimmed.

The largest buyer was Capula Management, adding an estimated $61.5M. The largest seller was Goldman Sachs, cutting an estimated $367M.

  • 682 institutional investors held Fidelity Wise Origin Bitcoin Fund (FBTC) as of Q3 2025, up from 620 in Q2 2025.
  • Funds reported $4.44B of Fidelity Wise Origin Bitcoin Fund stock for Q3 2025, down 5% quarter-over-quarter.
  • 102 funds opened new Fidelity Wise Origin Bitcoin Fund positions in Q3 2025 and 30 closed out, a net change of +72 holders.
  • The largest Fidelity Wise Origin Bitcoin Fund buyer in Q3 2025 was Capula Management, an estimated $61.5M added.
  • The largest Fidelity Wise Origin Bitcoin Fund seller in Q3 2025 was Goldman Sachs, an estimated $367M sold.

Based on aggregated 13F filings for Q3 2025.