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VanEck Bitcoin Trust
HODL

87 hedge funds and large institutions have $248M invested in VanEck Bitcoin Trust in 2025 Q1 according to their latest regulatory filings, with 23 funds opening new positions, 31 increasing their positions, 20 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

64% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 14

55% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 20

7% more funds holding

Funds holding: 81 → 87 (+6)

11% less capital invested

Capital invested by funds: $279M → $248M (-$30.5M)

66.02% less ownership

Funds ownership: 87.13% → 21.11% (-66%)

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
87
Holders Change
+6
Holders Change %
+7.41%
% of All Funds
1.17%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
23
Increased
31
Reduced
20
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
NIM
NEOS Investment Management
Connecticut
+$24.8M
2
VanEck Associates
VanEck Associates
New York
+$9.75M
3
SC
Syon Capital
California
+$7.83M
4
Jane Street
Jane Street
New York
+$4.75M
5
BFG
Berger Financial Group
Minnesota
+$4.62M

Top Sellers

Rank Fund Capital Flow
1
BFM
Boothbay Fund Management
New York
-$31.7M
2
HHGC
Hunting Hill Global Capital
New York
-$31.1M
3
TI
Tidal Investments
Wisconsin
-$2.42M
4
SFG
Sterling Financial Group
California
-$1.15M
5
CWM
Congress Wealth Management
Massachusetts
-$770K
Name Holding Trade Value Shares
Change 		Change in
Stake
EWA
76
EverSource Wealth Advisors
Alabama
$7.46K -$7.9K -300 -48%
RFG
77
REAP Financial Group
Texas
$7.37K +$8.32K +316 New
CIBC Private Wealth Group
78
CIBC Private Wealth Group
Georgia
$6.69K +$8.11K +308 New
KWM
79
Kiker Wealth Management
Georgia
$6.62K +$7.48K +284 New
WWM
80
Wolff Wiese Magana
California
$6.25K – – –
EWP
81
Elevation Wealth Partners
California
$6.15K +$527 +20 +8%
SPIA
82
Steward Partners Investment Advisory
New York
$4.66K – – –
CWC
83
Carolinas Wealth Consulting
North Carolina
$3.33K +$3.77K +143 New
Osaic Holdings
84
Osaic Holdings
Arizona
$2.1K +$2.37K +90 New
HI
85
Harbour Investments
Wisconsin
$1.12K – – –
SIS
86
Strategic Investment Solutions
Illinois
$373 +$421 +16 New
Wells Fargo
87
Wells Fargo
California
$43 -$53 -2 -50%
BFM
88
Boothbay Fund Management
New York
– -$31.7M -1,200,000 Closed
HHGC
89
Hunting Hill Global Capital
New York
– -$31.1M -1,175,952 Closed
SFG
90
Sterling Financial Group
California
– -$1.15M -43,500 Closed
TF
91
Trek Financial
Arizona
– -$607K -22,984 Closed
BWP
92
Balboa Wealth Partners
Arizona
– -$408K -15,456 Closed
GFG
93
GR Financial Group
Arizona
– -$319K -12,056 Closed
Walleye Capital
94
Walleye Capital
New York
– -$268K -10,124 Closed
KWM
95
Kingsview Wealth Management
Oregon
– -$244K -9,240 Closed
BA
96
Ballew Advisors
Mississippi
– -$218K -8,232 Closed
SCP
97
Sandhill Capital Partners
New York
– -$210K -7,956 Closed
EFP
98
EnRich Financial Partners
Wisconsin
– -$149K -5,652 Closed
AWM
99
Avior Wealth Management
Nebraska
– -$37K -1,400 Closed
Royal Bank of Canada
100
Royal Bank of Canada
Ontario, Canada
– -$16K -588 Closed
1 2 3
4
5

HODL Hedge Fund Activity: Q1 2025 in Review

87 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in VanEck Bitcoin Trust (HODL) for Q1 2025, worth a combined $248M — down 11% from $279M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new HODL positions and 14 closed out — a net gain of 9 holders — while 31 added to existing stakes and 20 trimmed.

The largest buyer was NEOS Investment Management, adding an estimated $24.8M. The largest seller was Boothbay Fund Management, exiting entirely with an estimated $31.7M sold.

  • 87 institutional investors held VanEck Bitcoin Trust (HODL) as of Q1 2025, up from 81 in Q4 2024.
  • Funds reported $248M of VanEck Bitcoin Trust stock for Q1 2025, down 11% quarter-over-quarter.
  • 23 funds opened new VanEck Bitcoin Trust positions in Q1 2025 and 14 closed out, a net change of +9 holders.
  • The largest VanEck Bitcoin Trust buyer in Q1 2025 was NEOS Investment Management, an estimated $24.8M added.
  • The largest VanEck Bitcoin Trust seller in Q1 2025 was Boothbay Fund Management, an estimated $31.7M sold.

Based on aggregated 13F filings for Q1 2025.