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Fidelity Wise Origin Bitcoin Fund
FBTC

620 hedge funds and large institutions have $4.67B invested in Fidelity Wise Origin Bitcoin Fund in 2025 Q2 according to their latest regulatory filings, with 125 funds opening new positions, 274 increasing their positions, 124 reducing their positions, and 30 closing their positions.

New
Increased
Maintained
Reduced
Closed

317% more first-time investments, than exits

New positions opened: 125 | Existing positions closed: 30

121% more repeat investments, than reductions

Existing positions increased: 274 | Existing positions reduced: 124

41% more funds holding in top 10

Funds holding in top 10: 32 → 45 (+13)

32% more capital invested

Capital invested by funds: $3.54B → $4.67B (+$1.14B)

17% more funds holding

Funds holding: 530 → 620 (+90)

10.87% more ownership

Funds ownership: 21.91% → 32.78% (+11%)

30% less call options, than puts

Call options by funds: $243M | Put options by funds: $346M

Holders
620
Holders Change
+90
Holders Change %
+16.98%
% of All Funds
8.16%
Holding in Top 10
45
Holding in Top 10 Change
+13
Holding in Top 10 Change %
+40.63%
% of All Funds
0.59%
New
125
Increased
274
Reduced
124
Closed
30
Calls
$243M
Puts
$346M
Net Calls
-$103M
Net Calls Change
-$162M

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$162M
2
CF
Cantor Fitzgerald
New York
+$111M
3
PC
ParaFi Capital
New York
+$43.5M
4
SSA
Schonfeld Strategic Advisors
New York
+$40.5M
5
EC
Elequin Capital
New York
+$33.6M

Top Sellers

Rank Fund Capital Flow
1
CM
Capula Management
Cayman Islands
-$241M
2
Jane Street
Jane Street
New York
-$212M
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$164M
4
WAM
Wolverine Asset Management
Illinois
-$11.6M
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$9.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
ZI
626
ZEGA Investments
Florida
– -$808K -11,230 Closed
KA
627
Kerrisdale Advisers
Florida
– -$663K -9,212 Closed
BCM
628
Beaumont Capital Management
Massachusetts
– -$571K -7,939 Closed
VCWA
629
Vanguard Capital Wealth Advisors
Colorado
– -$538K -7,475 Closed
BFG
630
Berger Financial Group
Minnesota
– -$530K -7,362 Closed
GVCM
631
Global View Capital Management
Wisconsin
– -$472K -6,562 Closed
FSA
632
Financial Sense Advisors
California
– -$468K -6,500 Closed
CIC
633
Chilton Investment Company
Connecticut
– -$436K -6,056 Closed
EP
634
EPIQ Partners
Minnesota
– -$384K -5,334 Closed
RWP
635
RWA Wealth Partners
Massachusetts
– -$368K -5,110 Closed
RFWA
636
RPg Family Wealth Advisory
Massachusetts
– -$260K -3,611 Closed
WMN
637
Wealth Management Nebraska
Nebraska
– -$269K -3,300 Closed
WDL
638
Well Done LLC
Michigan
– -$253K -3,100 Closed
KAS
639
KPP Advisory Services
Kentucky
– -$217K -3,022 Closed
RFW
640
Rainier Family Wealth
Washington
– -$216K -3,000 Closed
PCM
641
Presidio Capital Management
California
– -$137K -1,900 Closed
CWC
642
Carolinas Wealth Consulting
North Carolina
– -$64.8K -900 Closed
SFFS
643
Stonehage Fleming Financial Services
Jersey
– -$62.5K -868 Closed
HCP
644
Hexagon Capital Partners
Arkansas
– -$41K -570 Closed
CCM
645
Campbell Capital Management
Florida
– -$12.6K -175 Closed
RMP
646
Richards, Merrill & Peterson
Washington
– -$12.2K -169 Closed
FWA
647
FSC Wealth Advisors
New York
– -$11.6K -161 Closed
PBK
648
Peoples Bank (Kansas)
Kansas
– -$9.36K -130 Closed
RWM
649
Ruedi Wealth Management
Illinois
– -$6.41K -89 Closed
NEWAS
650
N.E.W. Advisory Services
Wisconsin
– -$720 -10 Closed
22 23 24 25
26

FBTC Hedge Fund Activity: Q2 2025 in Review

620 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Fidelity Wise Origin Bitcoin Fund (FBTC) for Q2 2025, worth a combined $4.67B — up 32% from $3.54B a quarter earlier.

Buyers outnumbered sellers: 125 funds opened new FBTC positions and 30 closed out — a net gain of 95 holders — while 274 added to existing stakes and 124 trimmed.

The largest buyer was Goldman Sachs, adding an estimated $162M. The largest seller was Capula Management, cutting an estimated $241M.

  • 620 institutional investors held Fidelity Wise Origin Bitcoin Fund (FBTC) as of Q2 2025, up from 530 in Q1 2025.
  • Funds reported $4.67B of Fidelity Wise Origin Bitcoin Fund stock for Q2 2025, up 32% quarter-over-quarter.
  • 125 funds opened new Fidelity Wise Origin Bitcoin Fund positions in Q2 2025 and 30 closed out, a net change of +95 holders.
  • The largest Fidelity Wise Origin Bitcoin Fund buyer in Q2 2025 was Goldman Sachs, an estimated $162M added.
  • The largest Fidelity Wise Origin Bitcoin Fund seller in Q2 2025 was Capula Management, an estimated $241M sold.

Based on aggregated 13F filings for Q2 2025.