VanEck Bitcoin Trust
HODL
110 hedge funds and large institutions have $384M invested in VanEck Bitcoin Trust in 2025 Q2 according to their latest regulatory filings, with 35 funds opening new positions, 42 increasing their positions, 15 reducing their positions, and 12 closing their positions.
192% more first-time investments, than exits
New positions opened: 35 | Existing positions closed: 12
180% more repeat investments, than reductions
Existing positions increased: 42 | Existing positions reduced: 15
54% more capital invested
Capital invested by funds: $249M → $384M (+$135M)
25% more funds holding
Funds holding: 88 → 110 (+22)
0.06% less ownership
Funds ownership: 21.13% → 21.07% (-0.06%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NIM
NEOS Investment Management
Westport,
Connecticut
|
+$43.8M |
| 2 |
HHGC
Hunting Hill Global Capital
New York
|
+$11.1M |
| 3 |
TF
Trek Financial
Scottsdale,
Arizona
|
+$6.28M |
| 4 |
SAM
Simplify Asset Management
Las Vegas,
Nevada
|
+$3.55M |
| 5 |
NA
NewEdge Advisors
New Orleans,
Louisiana
|
+$3.53M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VanEck Associates
New York
|
-$21.4M |
| 2 |
SC
Syon Capital
San Francisco,
California
|
-$14.3M |
| 3 |
Jane Street
New York
|
-$4.21M |
| 4 |
Citadel Advisors
Miami,
Florida
|
-$1.13M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$849K |
HODL Hedge Fund Activity: Q2 2025 in Review
110 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in VanEck Bitcoin Trust (HODL) for Q2 2025, worth a combined $384M — up 54% from $249M a quarter earlier.
Buyers outnumbered sellers: 35 funds opened new HODL positions and 12 closed out — a net gain of 23 holders — while 42 added to existing stakes and 15 trimmed.
The largest buyer was NEOS Investment Management, adding an estimated $43.8M. The largest seller was VanEck Associates, cutting an estimated $21.4M.
- 110 institutional investors held VanEck Bitcoin Trust (HODL) as of Q2 2025, up from 88 in Q1 2025.
- Funds reported $384M of VanEck Bitcoin Trust stock for Q2 2025, up 54% quarter-over-quarter.
- 35 funds opened new VanEck Bitcoin Trust positions in Q2 2025 and 12 closed out, a net change of +23 holders.
- The largest VanEck Bitcoin Trust buyer in Q2 2025 was NEOS Investment Management, an estimated $43.8M added.
- The largest VanEck Bitcoin Trust seller in Q2 2025 was VanEck Associates, an estimated $21.4M sold.
Based on aggregated 13F filings for Q2 2025.