Vault-13

BITWISE FUNDS TRUST

BITCOIN AND ETHE · CUSIP 091748400

3 institutional holders +0 vs Q2 2025
64,48364.5k shares reported held*
$2.3mreported value*
1 new 1 added 0 reduced 0 sold out net bought ≈ $1.4m (+39.8k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $35.64.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0246Q4 23: 5Q1 24: 5Q2 24: 5Q3 24: 5Q4 24: 5Q1 25: 5Q2 25: 3Q3 25: 33Q4 23Q2 24Q4 24Q2 25Q3 25
Numbers
QuarterHolders
Q4 20235
Q1 20245
Q2 20245
Q3 20245
Q4 20245
Q1 20255
Q2 20253
Q3 20253

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
404Q1 24: 3 bought or addedQ1 24: 2 cut or sold outQ1 24Q2 24: 1 bought or addedQ2 24: 2 cut or sold outQ3 24: 2 bought or addedQ3 24: 1 cut or sold outQ3 24Q4 24: 2 bought or addedQ4 24: 3 cut or sold outQ1 25: 3 bought or addedQ1 25: 1 cut or sold outQ1 25Q2 25: 0 bought or addedQ2 25: 2 cut or sold outQ3 25: 2 bought or addedQ3 25: 0 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q1 202432
Q2 202412
Q3 202421
Q4 202423
Q1 202531
Q2 202502
Q3 202520

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ4 24 calls: $25.0kQ4 24 puts: $16.3mQ4 24P/C 652.31Q1 25 calls: $5.0kQ1 25 puts: $11.9mQ1 25P/C 2383.14Q2 25 calls: $10.0kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —
Numbers
QuarterCallsPutsP/C
Q4 2024$25.0k$16.3m652.31
Q1 2025$5.0k$11.9m2383.14
Q2 2025$10.0k$00.00
Q3 2025$0$0—

Biggest buyers

NAPA WEALTH MANAGEMENT New +34,382+34.4k
JANE STREET GROUP, LLC Added +5,449+5.4k

Biggest sellers

None

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NAPA WEALTH MANAGEMENT 0.57% of their portfolio Napa, CA 34,38234.4k $1.2m $1.2m 0.57% New
2 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 21,20121.2k $755.5k $755.5k 0.00% Added +5.4k +5,449
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 8,9008.9k $317.2k $317.2k 0.00% Unchanged