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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CM
Capula Management
Grand Cayman,
Cayman Islands
|
+$61.5M |
| 2 |
Millennium Management
New York
|
+$41.4M |
| 3 |
IMC Chicago
Chicago,
Illinois
|
+$28.3M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$24.7M |
| 5 |
GPC
Guardian Point Capital
Charlottesville,
Virginia
|
+$20M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
-$367M |
| 2 |
SSA
Schonfeld Strategic Advisors
New York
|
-$247M |
| 3 |
Jane Street
New York
|
-$194M |
| 4 |
HI
HBK Investments
Dallas,
Texas
|
-$44.9M |
| 5 |
Wellington Management Group
Boston,
Massachusetts
|
-$29.5M |
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.