Vault-13

BITWISE BITCOIN ETF TR BITB

SHS BEN INT · ETP · CUSIP 09174C104

319 institutional holders +26 vs Q2 2025
20,743,75120.7m shares reported held*
$1.3bnreported value*
46 new 141 added 65 reduced 15 sold out net bought ≈ $95.6m (+1.5m 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 ($16.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $62.21. Options: 7 managers hold calls ($34.8m notional), 5 hold puts ($15.4m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q1 24: 106Q2 24: 145Q3 24: 156Q4 24: 235Q1 25: 250Q2 25: 293Q3 25: 319319Q1 24Q3 24Q1 25Q3 25
Numbers
QuarterHolders
Q1 2024106
Q2 2024145
Q3 2024156
Q4 2024235
Q1 2025250
Q2 2025293
Q3 2025319

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 106 bought or addedQ2 24: 25 cut or sold outQ2 24Q3 24: 95 bought or addedQ3 24: 38 cut or sold outQ3 24Q4 24: 154 bought or addedQ4 24: 42 cut or sold outQ4 24Q1 25: 150 bought or addedQ1 25: 81 cut or sold outQ1 25Q2 25: 179 bought or addedQ2 25: 69 cut or sold outQ2 25Q3 25: 187 bought or addedQ3 25: 80 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q2 202410625
Q3 20249538
Q4 202415442
Q1 202515081
Q2 202517969
Q3 202518780

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ4 24 calls: $20.8mQ4 24 puts: $5.4mQ4 24P/C 0.26Q1 25 calls: $21.0mQ1 25 puts: $6.8mQ1 25P/C 0.32Q2 25 calls: $32.6mQ2 25 puts: $14.3mQ2 25P/C 0.44Q3 25 calls: $34.8mQ3 25 puts: $15.4mQ3 25P/C 0.44
Numbers
QuarterCallsPutsP/C
Q4 2024$20.8m$5.4m0.26
Q1 2025$21.0m$6.8m0.32
Q2 2025$32.6m$14.3m0.44
Q3 2025$34.8m$15.4m0.44

Biggest buyers

JANE STREET GROUP, LLC Added +963,917+963.9k
Elequin Capital, LP Added +356,688+356.7k
Tidal Investments LLC Added +334,296+334.3k
WELLS FARGO & COMPANY/MN Added +193,676+193.7k
PNC Financial Services Group, Inc. Added +191,146+191.1k
Sculptor Capital LP Added +183,904+183.9k
Jump Financial, LLC Added +142,464+142.5k
KALEIDOSCOPE CAPITAL LP Added +137,270+137.3k
Virtu Financial LLC Added +114,146+114.1k
OLD MISSION CAPITAL LLC Added +98,992+99.0k

Biggest sellers

Schonfeld Strategic Advisors LLC Reduced -1,154,620-1.2m
Pantera Capital Partners LP Reduced -780,000-780.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -145,326-145.3k
RENAISSANCE TECHNOLOGIES LLC Reduced -96,300-96.3k
SILVERCREST ASSET MANAGEMENT GROUP LLC Sold out -51,249-51.2k
JPMORGAN CHASE & CO Reduced -48,626-48.6k
DRW Securities, LLC Sold out -40,776-40.8k
MAGNOLIA CAPITAL ADVISORS LLC Reduced -36,735-36.7k
SIMPLEX TRADING, LLC Reduced -33,765-33.8k
IMC-Chicago, LLC Reduced -33,339-33.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $13.0m209.6k shares
CITADEL ADVISORS LLC Reduced $8.4m135.2k shares
SIMPLEX TRADING, LLC Added $8.3m132.7k shares
JANE STREET GROUP, LLC Added $3.7m60.2k shares
MGO ONE SEVEN LLC Reduced $933.3k15.0k shares
BANK OF AMERICA CORP /DE/ Unchanged $273.8k4.4k shares
Walleye Trading LLC New $136.9k2.2k shares

Biggest puts

CITADEL ADVISORS LLC Added $5.9m95.3k shares
SIMPLEX TRADING, LLC Added $3.5m56.0k shares
JANE STREET GROUP, LLC Added $2.3m36.9k shares
Walleye Trading LLC Added $2.0m32.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.6m26.2k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q3 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MILLENNIUM MANAGEMENT LLC 0.17% of their portfolio NEW YORK, NY 3,503,0393.5m $218.0m $218.0m 0.17% Reduced -12.7k -12,659
2 ParaFi Capital LP 26.50% of their portfolio NEW YORK, NY 1,960,0002.0m $122.0m $122.0m 26.50% Unchanged
3 JANE STREET GROUP, LLC 0.08% of their portfolio NEW YORK, NY 1,161,9281.2m $72.3m $72.3m 0.08% Added +963.9k +963,917
4 Schonfeld Strategic Advisors LLC 0.34% of their portfolio NEW YORK, NY 789,652789.7k $49.1m $49.1m 0.34% Reduced -1.2m -1,154,620
5 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 693,101693.1k $43.1m $43.1m 0.03% Added +191.1k +191,146
6 Beaird Harris Wealth Management, LLC 2.85% of their portfolio DALLAS, TX 646,513646.5k $40.2m $40.2m 2.85% Added +50.1k +50,131
7 Sculptor Capital LP 0.47% of their portfolio New York, NY 551,278551.3k $34.3m $34.3m 0.47% Added +183.9k +183,904
8 KALEIDOSCOPE CAPITAL LP 9.77% of their portfolio BOSTON, MA 549,399549.4k $34.2m $34.2m 9.77% Added +137.3k +137,270
9 Tidal Investments LLC 0.14% of their portfolio Milwaukee, WI 532,269532.3k $33.1m $33.1m 0.14% Added +334.3k +334,296
10 IMC-Chicago, LLC 0.53% of their portfolio CHICAGO, IL 480,764480.8k $29.9m $29.9m 0.53% Reduced -33.3k -33,339
11 Pantera Capital Partners LP 5.75% of their portfolio SAN FRANCISCO, CA 460,000460.0k $28.6m $28.6m 5.75% Reduced -780.0k -780,000
12 Elequin Capital, LP 2.09% of their portfolio NEW YORK, NY 393,733393.7k $24.5m $24.5m 2.09% Added +356.7k +356,688
13 Pine Ridge Advisers LLC 1.43% of their portfolio NEW YORK, NY 336,325336.3k $20.9m $20.9m 1.43% Unchanged
14 HBK INVESTMENTS L P 0.23% of their portfolio DALLAS, TX 251,122251.1k $15.6m $15.6m 0.23% Unchanged
15 CWM, LLC 0.05% of their portfolio OMAHA, NE 250,539250.5k $15.6m $15.6m 0.05% Added +37.7k +37,732
16 Magnus Financial Group LLC 1.23% of their portfolio NEW YORK, NY 249,202249.2k $15.5m $15.5m 1.23% Added +74.0k +74,010
17 TRAPHAGEN INVESTMENT ADVISORS LLC 1.32% of their portfolio ORADELL, NJ 246,265246.3k $15.3m $15.3m 1.32% Added +10.6k +10,649
18 Hunting Hill Global Capital, LLC 5.42% of their portfolio New York, NY 231,430231.4k $14.4m $14.4m 5.42% Added +23.9k +23,935
19 Virtu Financial LLC 0.77% of their portfolio New York, NY 221,699221.7k $13.8m $13.8m 0.77% Added +114.1k +114,146
20 Clear Creek Financial Management, LLC 1.14% of their portfolio SILVERDALE, WA 212,200212.2k $13.2m $13.2m 1.14% Added +27.3k +27,326
21 Fielder Capital Group LLC 2.90% of their portfolio NASHVILLE, TN 204,775204.8k $12.7m $12.7m 2.90% Reduced -676 -676
22 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 193,677193.7k $12.1m $12.1m 0.00% Added +193.7k +193,676
23 Refined Wealth Management 7.51% of their portfolio SALT LAKE CITY, UT 187,728187.7k $11.7m $11.7m 7.51% Added +8.4k +8,353
24 RPg Family Wealth Advisory, LLC 2.45% of their portfolio BURLINGTON, MA 180,148180.1k $11.2m $11.2m 2.45% Reduced -1.5k -1,473
25 Orion Porfolio Solutions, LLC 0.09% of their portfolio OMAHA, NE 176,750176.8k $11.0m $11.0m 0.09% Added +2.7k +2,675
26 Crumly & Associates Inc. 2.11% of their portfolio SPRINGFIELD, IL 155,354155.4k $9.7m $9.7m 2.11% Added +33.7k +33,721
27 Artemis Wealth Advisors, LLC 1.58% of their portfolio Port Washington, NY 150,000150.0k $9.3m $9.3m 1.58% Unchanged
28 Jump Financial, LLC 0.12% of their portfolio Chicago, IL 148,567148.6k $9.2m $9.2m 0.12% Added +142.5k +142,464
29 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 142,317142.3k $8.9m $8.9m 0.00% Added +16.0k +16,041
30 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 136,026136.0k $8.5m $8.5m 0.02% Added +29.4k +29,356
31 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 132,371132.4k $8.2m $8.2m 0.02% Added +6.0k +6,048
32 Carter Financial Group, INC. 4.86% of their portfolio BARRINGTON, IL 129,434129.4k $8.1m $8.1m 4.86% Reduced -744 -744
33 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 115,124115.1k $7.2m $7.2m 0.01% Added +12.6k +12,553
34 UNIQUE WEALTH, LLC 1.01% of their portfolio TAMPA, FL 110,917110.9k $6.9m $6.9m 1.01% Added +78.6k +78,613
35 Visionary Wealth Advisors 0.31% of their portfolio O'FALLON, IL 108,197108.2k $6.7m $6.7m 0.31% Added +6.9k +6,881
36 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 107,783107.8k $7.1m $7.1m 0.01% Added +620 +620
37 OLD MISSION CAPITAL LLC 0.24% of their portfolio CHICAGO, IL 107,257107.3k $6.7m $6.7m 0.24% Added +99.0k +98,992
38 BEAM WEALTH ADVISORS, INC. 1.81% of their portfolio COVINGTON, LA 106,786106.8k $6.6m $6.6m 1.81% Added +12.9k +12,855
39 Summit Financial, LLC 0.09% of their portfolio PARSIPPANY, NJ 98,24798.2k $6.1m $6.1m 0.09% New
40 IEQ CAPITAL, LLC 0.02% of their portfolio Foster City, CA 97,40197.4k $6.1m $6.1m 0.02% Added +7.8k +7,769
41 HRT FINANCIAL LP 0.03% of their portfolio NEW YORK, NY 96,58096.6k $6.0m $6.0m 0.03% New
42 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 92,85292.9k $5.8m $5.8m 0.00% New
43 Kingsview Wealth Management, LLC 0.09% of their portfolio GRANTS PASS, OR 92,21292.2k $5.7m $5.7m 0.09% Reduced -672 -672
44 GUGGENHEIM CAPITAL LLC 0.04% of their portfolio CHICAGO, IL 90,64190.6k $5.6m $5.6m 0.04% Unchanged
45 White Knight Strategic Wealth Advisors, LLC 4.40% of their portfolio PRINCETON, NJ 89,75989.8k $5.6m $5.6m 4.40% Reduced -5.2k -5,249
46 Advance Capital Management, Inc. 0.23% of their portfolio SOUTHFIELD, MI 84,09984.1k $5.2m $5.2m 0.23% Reduced -13.6k -13,635
47 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 78,60578.6k $4.5m $4.5m 0.01% Added +43.8k +43,792
48 Betterment LLC 0.01% of their portfolio NEW YORK, NY 77,01577.0k $4.8m $4.8m 0.01% Added +2.5k +2,468
49 HIGHLINE WEALTH PARTNERS LLC 1.25% of their portfolio SHERMAN OAKS, CA 74,43274.4k $4.6m $4.6m 1.25% Reduced -1.1k -1,149
50 Farringdon Capital, Ltd. 1.18% of their portfolio LONDON, X0 74,27874.3k $4.6m $4.6m 1.18% Reduced -4.4k -4,442
51 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 70,67370.7k $4.4m $4.4m 0.00% Added +25.3k +25,303
52 MAGNOLIA CAPITAL ADVISORS LLC 1.13% of their portfolio RIDGELAND, MS 69,24569.2k $4.3m $4.3m 1.13% Reduced -36.7k -36,735
53 Soltis Investment Advisors LLC 0.30% of their portfolio ST. GEORGE, UT 69,17369.2k $4.3m $4.3m 0.30% Added +15.2k +15,243
54 Claro Advisors Inc. 0.62% of their portfolio BOSTON, MA 68,17168.2k $4.2m $4.2m 0.62% Reduced -262 -262
55 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 67,94267.9k $4.2m $4.2m 0.00% Added +14.4k +14,382
56 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 65,39965.4k $4.1m $4.1m 0.00% Added +1.4k +1,409
57 OPTIMA CAPITAL LLC 1.89% of their portfolio PORTLAND, OR 62,46762.5k $3.9m $3.9m 1.89% Added +10.0k +9,964
58 RPO LLC 4.81% of their portfolio Stamford, CT 61,48561.5k $3.8m $3.8m 4.81% Added +1.2k +1,200
59 KMG FIDUCIARY PARTNERS, LLC 0.26% of their portfolio TOLEDO, OH 61,31961.3k $3.8m $3.8m 0.26% Added +802 +802
60 WT Wealth Management 1.05% of their portfolio SCOTTSDALE, AZ 58,45158.5k $3.6m $3.6m 1.05% Added +32.6k +32,616
61 MEITAV INVESTMENT HOUSE LTD 0.04% of their portfolio BENE-BERAQ, L3 48,42948.4k $3.0m $3.0m 0.04% Added +10.9k +10,855
62 Embree Financial Group 0.40% of their portfolio Chicago, IL 47,35947.4k $2.9m $2.9m 0.40% Reduced -4.5k -4,526
63 CLIFTONLARSONALLEN WEALTH ADVISORS, LLC 0.05% of their portfolio MINNEAPOLIS, MN 46,38746.4k $2.9m $2.9m 0.05% New
64 Vise Technologies, Inc. 0.11% of their portfolio NEW YORK, NY 45,89645.9k $2.9m $2.9m 0.11% Added +12.8k +12,788
65 Wiser Wealth Management, Inc 0.65% of their portfolio MARIETTA, GA 45,51645.5k $2.8m $2.8m 0.65% Added +3.4k +3,415
66 StoneX Group Inc. 0.12% of their portfolio NEW YORK, NY 44,32244.3k $2.8m $2.8m 0.12% Reduced -11.3k -11,269
67 VANCE WEALTH, LLC 0.82% of their portfolio SANTA CLARITA, CA 43,08043.1k $2.7m $2.7m 0.82% Added +4.9k +4,940
68 Salus Financial Advisors, LLC 1.59% of their portfolio COLORADO SPRINGS, CO 41,35941.4k $2.6m $2.6m 1.59% Added +1.9k +1,897
69 Perigon Wealth Management, LLC 0.05% of their portfolio SAN FRANCISCO, CA 40,98741.0k $2.6m $2.6m 0.05% Added +1.4k +1,350
70 Belpointe Asset Management LLC 0.10% of their portfolio RENO, NV 40,70040.7k $2.5m $2.5m 0.10% Added +27.3k +27,332
71 Ovata Capital Management Ltd 0.50% of their portfolio HONG KONG, K3 39,97740.0k $2.5m $2.5m 0.50% Unchanged
72 CreativeOne Wealth, LLC 0.06% of their portfolio OVERLAND PARK, KS 38,73038.7k $2.4m $2.4m 0.06% Added +1.8k +1,768
73 NorthCoast Asset Management LLC 0.01% of their portfolio STAMFORD, CT 38,69238.7k $2.4m $2.4m 0.01% Reduced -2.3k -2,347
74 SIH Partners, LLLP 0.20% of their portfolio Wilmington, DE 37,05737.1k $2.3m $2.3m 0.20% New
75 FISCHER INVESTMENT STRATEGIES, LLC 1.38% of their portfolio Westlake Village, CA 37,01037.0k $2.3m $2.3m 1.38% Added +18.0k +18,017
76 FF Advisors,LLC 1.05% of their portfolio MANHATTAN BEACH, CA 35,18835.2k $2.2m $2.2m 1.05% Reduced -1.1k -1,126
77 Balance Wealth Partners LLC 0.53% of their portfolio WORTHINGTON, OH 34,74134.7k $2.2m $2.2m 0.53% Added +10.1k +10,053
78 Farther Finance Advisors, LLC 0.03% of their portfolio SAN FRANCISCO, CA 34,33134.3k $2.1m $2.1m 0.03% Added +2.8k +2,811
79 Proficio Capital Partners LLC 0.15% of their portfolio NEWTON, MA 34,16734.2k $2.1m $2.1m 0.15% Added +670 +670
80 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 34,06334.1k $2.1m $2.1m 0.00% Added +4.7k +4,705
81 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 33,84733.8k $2.1m $2.1m 0.01% Added +25.5k +25,509
82 Signature Wealth Management Group 0.80% of their portfolio ATLANTA, GA 32,92732.9k $2.0m $2.0m 0.80% Reduced -435 -435
83 GPS Wealth Strategies Group, LLC 0.21% of their portfolio CENTENNIAL, CO 32,63932.6k $2.0m $2.0m 0.21% Added +1.5k +1,520
84 MRP Capital Investments, LLC 1.57% of their portfolio ALPHARETTA, GA 31,25831.3k $1.8m $1.8m 1.57% Reduced -11.0k -11,015
85 SHARPEPOINT LLC 1.73% of their portfolio PHOENIX, AZ 30,85430.9k $1.9m $1.9m 1.73% Added +2.7k +2,712
86 Mason & Associates Inc 0.38% of their portfolio LOS ANGELES, CA 30,55230.6k $1.9m $1.9m 0.38% Added +18.3k +18,332
87 LAKE STREET PRIVATE WEALTH, LLC 0.24% of their portfolio CHICAGO, IL 30,14830.1k $1.9m $1.9m 0.24% Reduced -32 -32
88 SILVER OAK SECURITIES, INCORPORATED 0.14% of their portfolio JACKSON, TN 29,90729.9k $1.9m $1.9m 0.14% Added +1.9k +1,915
89 Mariner, LLC 0.00% of their portfolio Overland Park, KS 29,84829.8k $1.9m $1.9m 0.00% Added +9.0k +8,977
90 Arete Wealth Advisors, LLC 0.12% of their portfolio CHICAGO, IL 29,61329.6k $1.8m $1.8m 0.12% Added +9.8k +9,808
91 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 27,96428.0k $1.7m $1.7m 0.00% Reduced -145.3k -145,326
92 Capital Wealth Alliance, LLC 0.84% of their portfolio Scottsdale, AZ 27,18827.2k $1.7m $1.7m 0.84% Added +574 +574
93 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 26,52126.5k $1.7m $1.7m 0.01% Reduced -3.2k -3,170
94 BRANDYWINE OAK PRIVATE WEALTH LLC 0.13% of their portfolio Kennett Square, PA 24,10424.1k $1.5m $1.5m 0.13% Added +1.0k +1,031
95 Wealth Watch Advisors, INC 0.61% of their portfolio ENGLEWOOD, CO 23,85923.9k $1.5m $1.5m 0.61% Added +6.3k +6,318
96 Freestone Capital Holdings, LLC 0.04% of their portfolio Seattle, WA 23,31223.3k $1.5m $1.5m 0.04% Added +800 +800
97 New Harbor Financial Group, LLC 0.29% of their portfolio WORCESTER, MA 22,96923.0k $1.4m $1.4m 0.29% Added +8.6k +8,640
98 Exit Wealth Advisors, LLC. 0.95% of their portfolio ATLANTA, GA 22,89022.9k $1.4m $1.4m 0.95% First filing
99 U.S. Capital Wealth Advisors, LLC 0.04% of their portfolio AUSTIN, TX 22,53022.5k $1.4m $1.4m 0.04% Added +1.4k +1,400
100 Bonfire Financial 1.07% of their portfolio COLORADO SPRINGS, CO 22,38622.4k $1.4m $1.4m 1.07% Added +3.3k +3,322