Hut 8
263 hedge funds and large institutions have $2.4B invested in Hut 8 in 2025 Q3 according to their latest regulatory filings, with 95 funds opening new positions, 76 increasing their positions, 56 reducing their positions, and 27 closing their positions.
252% more first-time investments, than exits
New positions opened: 95 | Existing positions closed: 27
133% more capital invested
Capital invested by funds: $1.03B → $2.4B (+$1.37B)
100% more funds holding in top 10
Funds holding in top 10: 4 → 8 (+4)
96% more call options, than puts
Call options by funds: $728M | Put options by funds: $372M
36% more repeat investments, than reductions
Existing positions increased: 76 | Existing positions reduced: 56
31% more funds holding
Funds holding: 201 → 263 (+62)
12.5% more ownership
Funds ownership: 53.16% → 65.67% (+13%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HRCM
Hood River Capital Management
Palm Beach Gardens,
Florida
|
+$50.4M |
| 2 |
Jane Street
New York
|
+$37M |
| 3 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
+$35.3M |
| 4 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
+$32.2M |
| 5 |
VARA
Value Aligned Research Advisors
Princeton,
New Jersey
|
+$26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VanEck Associates
New York
|
-$28.2M |
| 2 |
Morgan Stanley
New York
|
-$19.2M |
| 3 |
BC
BIT Capital
Berlin,
Germany
|
-$17.9M |
| 4 |
IGM
Incline Global Management
New York
|
-$13.9M |
| 5 |
Massachusetts Financial Services
Boston,
Massachusetts
|
-$12.1M |
HUT Hedge Fund Activity: Q3 2025 in Review
263 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Hut 8 (HUT) for Q3 2025, worth a combined $2.4B — up 133% from $1.03B a quarter earlier.
Buyers outnumbered sellers: 95 funds opened new HUT positions and 27 closed out — a net gain of 68 holders — while 76 added to existing stakes and 56 trimmed.
The largest buyer was Hood River Capital Management, opening a new position worth an estimated $50.4M. The largest seller was VanEck Associates, cutting an estimated $28.2M.
- 263 institutional investors held Hut 8 (HUT) as of Q3 2025, up from 201 in Q2 2025.
- Funds reported $2.4B of Hut 8 stock for Q3 2025, up 133% quarter-over-quarter.
- 95 funds opened new Hut 8 positions in Q3 2025 and 27 closed out, a net change of +68 holders.
- The largest Hut 8 buyer in Q3 2025 was Hood River Capital Management, an estimated $50.4M added.
- The largest Hut 8 seller in Q3 2025 was VanEck Associates, an estimated $28.2M sold.
Based on aggregated 13F filings for Q3 2025.