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iShares Bitcoin Trust
IBIT

1,433 hedge funds and large institutions have $22.6B invested in iShares Bitcoin Trust in 2025 Q2 according to their latest regulatory filings, with 336 funds opening new positions, 679 increasing their positions, 231 reducing their positions, and 74 closing their positions.

New
Increased
Maintained
Reduced
Closed

354% more first-time investments, than exits

New positions opened: 336 | Existing positions closed: 74

194% more repeat investments, than reductions

Existing positions increased: 679 | Existing positions reduced: 231

77% more capital invested

Capital invested by funds: $12.8B → $22.6B (+$9.81B)

53% more funds holding in top 10

Funds holding in top 10: 79 → 121 (+42)

21% more funds holding

Funds holding: 1,180 → 1,433 (+253)

21% more call options, than puts

Call options by funds: $6.84B | Put options by funds: $5.66B

3.62% more ownership

Funds ownership: 26.97% → 30.59% (+3.6%)

Holders
1,433
Holders Change
+253
Holders Change %
+21.44%
% of All Funds
18.87%
Holding in Top 10
121
Holding in Top 10 Change
+42
Holding in Top 10 Change %
+53.16%
% of All Funds
1.59%
New
336
Increased
679
Reduced
231
Closed
74
Calls
$6.84B
Puts
$5.66B
Net Calls
+$1.18B
Net Calls Change
-$83.7M

Top Buyers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
+$978M
2
BHCM
Brevan Howard Capital Management
Jersey
+$893M
3
WAM
Weiss Asset Management
Massachusetts
+$286M
4
IMC Chicago
IMC Chicago
Illinois
+$232M
5
Millennium Management
Millennium Management
New York
+$216M

Top Sellers

Rank Fund Capital Flow
1
MG
Marex Group
-$359M
2
Point72 Asset Management
Point72 Asset Management
Connecticut
-$169M
3
CL
CRCM LP
California
-$86.7M
4
Citadel Advisors
Citadel Advisors
Florida
-$83.4M
5
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$71.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
IPWA
1051
International Private Wealth Advisors
California
$282K +$258K +4,600 New
GCP
1052
Gill Capital Partners
Colorado
$281K +$257K +4,584 New
FCBT
1053
First Citizens Bank & Trust
North Carolina
$280K +$257K +4,580 New
PSP
1054
Pacific Sage Partners
Washington
$279K -$6.78K -121 -3%
MCG
1055
McCollum Christoferson Group
New York
$277K +$254K +4,529 New
AUB
1056
Atlantic Union Bankshares
Virginia
$277K +$254K +4,528 New
TWM
1057
TCFG Wealth Management
California
$277K +$253K +4,522 New
Franklin Resources
1058
Franklin Resources
California
$276K +$448 +8 +0.2%
HCMT
1059
Highland Capital Management (Tennessee)
Tennessee
$275K +$252K +4,500 New
ILI
1060
Invesco LLC (Illinois)
Illinois
$273K +$250K +4,463 New
KCPG
1061
Kavar Capital Partners Group
Kansas
$273K +$4.76K +85 +2%
1SB
1062
1ST Source Bank
Indiana
$272K – – –
EU
1063
Emory University
Georgia
$272K +$249K +4,450 New
ITB
1064
Idaho Trust Bank
Idaho
$272K – – –
BFS
1065
Bare Financial Services
Pennsylvania
$272K – – –
VNA
1066
Valley National Advisers
Pennsylvania
$272K +$50.7K +904 +26%
TFP
1067
Tilia Fiduciary Partners
North Carolina
$272K +$249K +4,440 New
ICMM
1068
Integrated Capital Management (Michigan)
Michigan
$271K +$229K +4,093 New
OFG
1069
Oxford Financial Group
Indiana
$271K +$248K +4,420 New
CAM
1070
Chesapeake Asset Management
New York
$270K -$255K -4,550 -51%
AWAP
1071
Alliance Wealth Advisors (Pennsylvania)
Pennsylvania
$270K +$247K +4,407 New
W
1072
Wealthquest
Ohio
$270K +$247K +4,404 New
MCM
1073
Mainstream Capital Management
California
$269K – – –
BB
1074
Berkshire Bank
Massachusetts
$267K – – –
PA
1075
Promethium Advisors
Maryland
$267K +$3.36K +60 +1%
41 42
43
44 45

IBIT Hedge Fund Activity: Q2 2025 in Review

1,433 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in iShares Bitcoin Trust (IBIT) for Q2 2025, worth a combined $22.6B — up 77% from $12.8B a quarter earlier.

Buyers outnumbered sellers: 336 funds opened new IBIT positions and 74 closed out — a net gain of 262 holders — while 679 added to existing stakes and 231 trimmed.

The largest buyer was Jane Street, adding an estimated $978M. The largest seller was Marex Group, cutting an estimated $359M.

  • 1,433 institutional investors held iShares Bitcoin Trust (IBIT) as of Q2 2025, up from 1,180 in Q1 2025.
  • Funds reported $22.6B of iShares Bitcoin Trust stock for Q2 2025, up 77% quarter-over-quarter.
  • 336 funds opened new iShares Bitcoin Trust positions in Q2 2025 and 74 closed out, a net change of +262 holders.
  • The largest iShares Bitcoin Trust buyer in Q2 2025 was Jane Street, an estimated $978M added.
  • The largest iShares Bitcoin Trust seller in Q2 2025 was Marex Group, an estimated $359M sold.

Based on aggregated 13F filings for Q2 2025.