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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
IWA
576
Icon Wealth Advisors
Texas
$152K – – –
PMFA
577
Plante Moran Financial Advisors
Michigan
$149K -$102K -1,024 -41%
MPWT
578
MassMutual Private Wealth & Trust
Connecticut
$148K – – –
SPIA
579
Steward Partners Investment Advisory
New York
$148K +$77.8K +779 +111%
OP
580
ORG Partners
Indiana
$145K +$36.8K +368 +34%
TIM
581
Tortoise Investment Management
New York
$144K +$1.5K +15 +1%
Q1WB
582
Quest 10 Wealth Builders
Virginia
$139K -$24.9K -249 -15%
S
583
SignatureFD
Georgia
$139K +$999 +10 +0.7%
NRWA
584
North Ridge Wealth Advisors
Oregon
$135K +$50K +500 +59%
UB
585
UMB Bank
Missouri
$127K – – –
ICCON
586
Investment Counsel Company of Nevada
Nevada
$127K +$23.5K +235 +23%
APW
587
Atlantic Private Wealth
North Carolina
$120K – – –
HCM
588
Hicks Capital Management
Ohio
$120K +$120K +1,200 New
NB
589
NBT Bank
New York
$114K +$55.5K +555 +94%
FLFS
590
Family Legacy Financial Solutions
North Carolina
$99.8K – – –
NWMP
591
Noble Wealth Management PBC
Colorado
$96.8K +$96.9K +970 New
TIAAOA
592
Teachers Insurance & Annuity Association of America
New York
$93.3K – – –
CAL
593
Capital Analysts LLC
Pennsylvania
$92K +$24.6K +246 +36%
T2I
594
Turim 21 Investimentos
Brazil
$87.5K +$87.6K +877 New
JP Morgan Chase
595
JP Morgan Chase
New York
$84.6K -$7.89K -79 -9%
HWA
596
Heritage Wealth Advisors
Virginia
$81.5K – – –
AP
597
Aspect Partners
Virginia
$80.9K +$15K +150 +23%
AIC
598
Archer Investment Corporation
Indiana
$78.8K -$300K -3,007 -79%
GSWM
599
Golden State Wealth Management
California
$77.8K – – –
MDCM
600
Morgan Dempsey Capital Management
Wisconsin
$75K – – –
22 23
24
25 26

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.