Vault-13

FIDELITY WISE ORIGIN BITCOIN FBTC

SHS · ETP · CUSIP 315948109

623 institutional holders +89 vs Q1 2025
49,702,60549.7m shares reported held*
$4.7bnreported value*
121 new 275 added 123 reduced 30 sold out net bought ≈ $61.9m (+665.3k 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 ≈ $94.14. Options: 12 managers hold calls ($242.8m notional), 13 hold puts ($346.1m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0250500750Q1 24: 248Q2 24: 316Q3 24: 345Q4 24: 531Q1 25: 534Q2 25: 623623Q1 24Q2 24Q3 24Q4 24Q1 25Q2 25
Numbers
QuarterHolders
Q1 2024248
Q2 2024316
Q3 2024345
Q4 2024531
Q1 2025534
Q2 2025623

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 24: 223 bought or addedQ2 24: 76 cut or sold outQ2 24Q3 24: 210 bought or addedQ3 24: 91 cut or sold outQ3 24Q4 24: 372 bought or addedQ4 24: 96 cut or sold outQ4 24Q1 25: 328 bought or addedQ1 25: 166 cut or sold outQ1 25Q2 25: 396 bought or addedQ2 25: 153 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q2 202422376
Q3 202421091
Q4 202437296
Q1 2025328166
Q2 2025396153

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $97.3mQ4 24 puts: $109.9mQ4 24P/C 1.13Q1 25 calls: $149.6mQ1 25 puts: $90.5mQ1 25P/C 0.60Q2 25 calls: $242.8mQ2 25 puts: $346.1mQ2 25P/C 1.43
Numbers
QuarterCallsPutsP/C
Q3 2024$0$0—
Q4 2024$97.3m$109.9m1.13
Q1 2025$149.6m$90.5m0.60
Q2 2025$242.8m$346.1m1.43

Biggest buyers

GOLDMAN SACHS GROUP INC Added +1,886,896+1.9m
CANTOR FITZGERALD, L. P. Added +1,284,583+1.3m
ParaFi Capital LP Added +505,000+505.0k
Schonfeld Strategic Advisors LLC Added +470,685+470.7k
Elequin Capital, LP New +390,010+390.0k
HBK INVESTMENTS L P Added +339,498+339.5k
WINTON GROUP Ltd New +338,027+338.0k
O'Neil Global Advisors, Inc. Added +299,900+299.9k
Ovata Capital Management Ltd New +295,558+295.6k
Trans-Canada Capital Inc. Added +286,500+286.5k

Biggest sellers

Capula Management Ltd Reduced -2,801,938-2.8m
JANE STREET GROUP, LLC Reduced -2,459,608-2.5m
D. E. Shaw & Co., Inc. Reduced -1,900,000-1.9m
WOLVERINE ASSET MANAGEMENT LLC Sold out -161,813-161.8k
FLOW TRADERS U.S. LLC Sold out -114,799-114.8k
ENVESTNET ASSET MANAGEMENT INC Reduced -110,401-110.4k
Claar Advisors LLC Reduced -101,934-101.9k
DRW Securities, LLC Reduced -93,527-93.5k
Virtu Financial LLC Reduced -70,936-70.9k
TOWNSQUARE CAPITAL LLC Sold out -60,390-60.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $58.0m617.2k shares
CITADEL ADVISORS LLC Reduced $52.8m561.9k shares
Marex Group Ltd New $37.6m400.0k shares
JANE STREET GROUP, LLC Reduced $33.1m352.4k shares
SIMPLEX TRADING, LLC Added $22.8m242.9k shares
IMC-Chicago, LLC Added $20.8m221.6k shares
WOLVERINE TRADING, LLC Added $9.3m99.8k shares
GROUP ONE TRADING LLC Added $5.1m53.8k shares
Shay Capital LLC New $1.9m20.0k shares
Walleye Trading LLC Reduced $1.3m14.3k shares

Biggest puts

Graham Capital Management, L.P. New $101.1m1.1m shares
LMR Partners LLP New $61.1m650.0k shares
JANE STREET GROUP, LLC Added $39.6m421.2k shares
GOLDMAN SACHS GROUP INC Reduced $37.6m400.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $36.9m392.3k shares
CANTOR FITZGERALD, L. P. New $21.1m224.9k shares
CITADEL ADVISORS LLC Added $17.8m189.0k shares
SIMPLEX TRADING, LLC Added $9.5m100.7k shares
GROUP ONE TRADING LLC Added $7.8m82.8k shares
IMC-Chicago, LLC Reduced $6.9m73.4k 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 Q2 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 Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MILLENNIUM MANAGEMENT LLC 0.59% of their portfolio NEW YORK, NY 7,032,2067.0m $661.0m $661.0m 0.59% Added +76.5k +76,494
2 Schonfeld Strategic Advisors LLC 3.30% of their portfolio NEW YORK, NY 4,657,9664.7m $437.8m $437.8m 3.30% Added +470.7k +470,685
3 GOLDMAN SACHS GROUP INC 0.07% of their portfolio NEW YORK, NY 4,613,2774.6m $433.6m $433.6m 0.07% Added +1.9m +1,886,896
4 JANE STREET GROUP, LLC 0.65% of their portfolio NEW YORK, NY 4,301,8554.3m $404.3m $404.3m 0.65% Reduced -2.5m -2,459,608
5 Sculptor Capital LP 3.33% of their portfolio New York, NY 2,188,7272.2m $205.7m $205.7m 3.33% Unchanged
6 Almitas Capital LLC 38.22% of their portfolio SANTA MONICA, CA 1,611,6371.6m $151.5m $151.5m 38.22% Reduced -40.8k -40,772
7 Capula Management Ltd 1.73% of their portfolio Grand Cayman, E9 1,497,1741.5m $140.7m $140.7m 1.73% Reduced -2.8m -2,801,938
8 CANTOR FITZGERALD, L. P. 2.98% of their portfolio NEW YORK, NY 1,292,9511.3m $121.5m $121.5m 2.98% Added +1.3m +1,284,583
9 ParaFi Capital LP 18.79% of their portfolio NEW YORK, NY 1,090,0001.1m $102.4m $102.4m 18.79% Added +505.0k +505,000
10 Pine Ridge Advisers LLC 5.75% of their portfolio NEW YORK, NY 834,367834.4k $78.4m $78.4m 5.75% Reduced -55.3k -55,280
11 HBK INVESTMENTS L P 1.30% of their portfolio DALLAS, TX 780,164780.2k $73.3m $73.3m 1.30% Added +339.5k +339,498
12 Trans-Canada Capital Inc. 4.95% of their portfolio MONTREAL, A8 772,842772.8k $72.6m $72.6m 4.95% Added +286.5k +286,500
13 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 674,591674.6k $63.4m $63.4m 0.02% Reduced -110.4k -110,401
14 Patient Capital Management, LLC 2.63% of their portfolio BALTIMORE, MD 620,226620.2k $58.3m $58.3m 2.63% Unchanged
15 United Capital Management of KS, Inc. 8.36% of their portfolio SALINA, KS 567,460567.5k $53.3m $53.3m 8.36% Added +216 +216
16 Mariner, LLC 0.08% of their portfolio Overland Park, KS 563,669563.7k $53.0m $53.0m 0.08% Added +42.1k +42,109
17 Cresset Asset Management, LLC 0.24% of their portfolio Chicago, IL 518,513518.5k $48.7m $48.7m 0.24% Reduced -10.8k -10,778
18 Beaumont Financial Advisors, LLC 3.22% of their portfolio NEEDHAM, MA 474,240474.2k $44.6m $44.6m 3.22% Reduced -13.3k -13,314
19 Elequin Capital, LP 5.06% of their portfolio NEW YORK, NY 390,010390.0k $36.7m $36.7m 5.06% New
20 EverSource Wealth Advisors, LLC 1.63% of their portfolio BIRMINGHAM, AL 383,065383.1k $36.0m $36.0m 1.63% Added +21.0k +21,049
21 HighTower Advisors, LLC 0.04% of their portfolio CHICAGO, IL 349,199349.2k $32.8m $32.8m 0.04% Added +35.4k +35,395
22 WINTON GROUP Ltd 1.62% of their portfolio LONDON, X0 338,027338.0k $31.8m $31.8m 1.62% New
23 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 332,615332.6k $31.3m $31.3m 0.05% Added +103.5k +103,512
24 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 313,432313.4k $29.5m $29.5m 0.01% Unchanged
25 O'Neil Global Advisors, Inc. 6.76% of their portfolio LOS ANGELES, CA 312,400312.4k $29.4m $29.4m 6.76% Added +299.9k +299,900
26 Legacy Wealth Asset Management, LLC 7.29% of their portfolio WOODBURY, MN 305,249305.2k $28.7m $28.7m 7.29% Reduced -2.4k -2,437
27 Ovata Capital Management Ltd 6.00% of their portfolio HONG KONG, K3 295,558295.6k $27.7m $27.7m 6.00% New
28 IMC-Chicago, LLC 0.64% of their portfolio CHICAGO, IL 271,720271.7k $25.5m $25.5m 0.64% New
29 Van Hulzen Asset Management, LLC 2.03% of their portfolio EL DORADO HILLS, CA 259,260259.3k $24.4m $24.4m 2.03% Reduced -2.2k -2,237
30 KALEIDOSCOPE CAPITAL LP 9.58% of their portfolio BOSTON, MA 256,813256.8k $24.1m $24.1m 9.58% Added +115.5k +115,498
31 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 235,828235.8k $22.2m $22.2m 0.03% Added +19.2k +19,240
32 Tidal Investments LLC 0.13% of their portfolio Milwaukee, WI 217,558217.6k $20.4m $20.4m 0.13% Added +35.5k +35,541
33 Diversify Advisory Services, LLC 0.85% of their portfolio SANDY, UT 213,854213.9k $22.3m $22.3m 0.85% New
34 Atlas Wealth Partners, LLC 22.27% of their portfolio WYOMISSING, PA 205,281205.3k $19.3m $19.3m 22.27% Reduced -5.0k -4,989
35 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 1.45% of their portfolio Englewood, NJ 196,119196.1k $18.4m $18.4m 1.45% Reduced -16.5k -16,522
36 Compass Ion Advisors, LLC 1.91% of their portfolio CONSHOHOCKEN, PA 188,113188.1k $17.7m $17.7m 1.91% Added +3.4k +3,383
37 SKY-MOUNTAIN CAPITAL MANAGEMENT, INC. 12.08% of their portfolio KETCHUM, ID 177,153177.2k $18.2m $18.2m 12.08% Added +10.2k +10,211
38 Kestra Advisory Services, LLC 0.08% of their portfolio AUSTIN, TX 167,722167.7k $15.8m $15.8m 0.08% Reduced -16.5k -16,490
39 Gimbal Financial 9.62% of their portfolio CARMEL, IN 166,525166.5k $15.7m $15.7m 9.62% New
40 COURAGE CAPITAL MANAGEMENT LLC 21.57% of their portfolio NASHVILLE, TN 155,615155.6k $14.6m $14.6m 21.57% Added +74.3k +74,294
41 Consolidated Portfolio Review Corp 1.96% of their portfolio WOODBURY, NY 150,414150.4k $14.1m $14.1m 1.96% Added +9.6k +9,596
42 Militia Capital Partners, LP 3.23% of their portfolio AUSTIN, TX 145,400145.4k $13.7m $13.7m 3.23% New
43 Parcion Private Wealth LLC 0.96% of their portfolio BELLEVUE, WA 143,260143.3k $13.5m $13.5m 0.96% Added +5.6k +5,624
44 BlackRock, Inc. 0.00% of their portfolio New York, NY 135,944135.9k $12.8m $12.8m 0.00% Added +65.0k +64,973
45 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 135,400135.4k $12.7m $12.7m 0.02% Added +3.2k +3,191
46 Hunting Hill Global Capital, LLC 6.57% of their portfolio New York, NY 129,326129.3k $12.2m $12.2m 6.57% New
47 ALTFEST L J & CO INC 1.39% of their portfolio NEW YORK, NY 125,315125.3k $11.8m $11.8m 1.39% Added +61.1k +61,132
48 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 123,543123.5k $11.6m $11.6m 0.01% Added +4.2k +4,176
49 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 121,037121.0k $11.4m $11.4m 0.01% Added +10.0k +10,002
50 StoneX Group Inc. 0.55% of their portfolio NEW YORK, NY 120,323120.3k $11.3m $11.3m 0.55% Reduced -3.9k -3,869
51 Newtyn Management, LLC 1.71% of their portfolio NEW YORK, NY 120,200120.2k $11.3m $11.3m 1.71% Unchanged
52 Alamea Verwaltungs GmbH 8.33% of their portfolio Edison, NJ 117,771117.8k $11.1m $11.1m 8.33% Added +23.4k +23,400
53 Marex Group Ltd 0.21% of their portfolio London, X0 114,882114.9k $10.8m $10.8m 0.21% Reduced -36.2k -36,190
54 Copperleaf Capital, LLC 5.34% of their portfolio CONCORD, NC 112,293112.3k $10.6m $10.6m 5.34% Added +31.7k +31,724
55 IEQ CAPITAL, LLC 0.06% of their portfolio Foster City, CA 106,635106.6k $10.0m $10.0m 0.06% Added +3.7k +3,708
56 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 105,472105.5k $10.1m $10.1m 0.02% Added +200 +200
57 Fiduciary Trust Co 0.12% of their portfolio Boston, MA 104,719104.7k $9.8m $9.8m 0.12% Reduced -452 -452
58 Allegheny Financial Group 2.07% of their portfolio Pittsburgh, PA 99,04299.0k $9.3m $9.3m 2.07% Reduced -6.4k -6,442
59 Traynor Capital Management, Inc. 0.63% of their portfolio MALVERN, PA 97,22797.2k $8.9m $8.9m 0.63% Reduced -322 -322
60 Cambridge Investment Research Advisors, Inc. 0.03% of their portfolio FAIRFIELD, IA 96,01096.0k $9.0m $9.0m 0.03% Added +763 +763
61 CWM, LLC 0.03% of their portfolio OMAHA, NE 91,33891.3k $8.6m $8.6m 0.03% Added +12.1k +12,121
62 KINGSWOOD WEALTH ADVISORS, LLC 0.67% of their portfolio SAN DIEGO, CA 90,93190.9k $8.5m $8.5m 0.67% Added +6.7k +6,716
63 Senator Investment Group LP 0.33% of their portfolio New York, NY 90,12590.1k $8.5m $8.5m 0.33% Reduced -6.9k -6,916
64 Citrine Capital LLC 4.48% of their portfolio SAN FRANCISCO, CA 89,77989.8k $8.4m $8.4m 4.48% Added +9.3k +9,294
65 KESTRA PRIVATE WEALTH SERVICES, LLC 0.12% of their portfolio AUSTIN, TX 86,63486.6k $8.1m $8.1m 0.12% Added +2.2k +2,230
66 Advisory Services Network, LLC 0.14% of their portfolio ATLANTA, GA 84,99485.0k $8.7m $8.7m 0.14% Added +12.9k +12,944
67 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 83,85883.9k $7.9m $7.9m 0.01% Added +25.7k +25,728
68 Brookstone Capital Management 0.10% of their portfolio WHEATON, IL 83,49783.5k $7.8m $7.8m 0.10% Reduced -3.0k -3,015
69 EXENCIAL WEALTH ADVISORS, LLC 0.27% of their portfolio OKLAHOMA CITY, OK 82,68182.7k $7.8m $7.8m 0.27% Added +5.5k +5,451
70 Heck Capital Advisors, LLC 0.65% of their portfolio Rhinelander, WI 80,43880.4k $7.6m $7.6m 0.65% Reduced -52.3k -52,297
71 Sowell Financial Services LLC 0.31% of their portfolio NORTH LITTLE ROCK, AR 80,14180.1k $7.5m $7.5m 0.31% Added +68 +68
72 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 77,90177.9k $7.3m $7.3m 0.01% Added +25.8k +25,812
73 AVAII WEALTH MANAGEMENT, LLC 3.24% of their portfolio APPLETON, WI 77,53377.5k $7.3m $7.3m 3.24% Added +38.0k +38,014
74 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 77,38077.4k $7.3m $7.3m 0.01% Added +1.1k +1,116
75 Integrated Advisors Network LLC 0.32% of their portfolio DALLAS, TX 74,59174.6k $7.0m $7.0m 0.32% Reduced -9.5k -9,539
76 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 73,89273.9k $6.9m $6.9m 0.00% Added +2.1k +2,139
77 PARK AVENUE SECURITIES LLC 0.06% of their portfolio NEW YORK, NY 73,53473.5k $6.9m $6.9m 0.06% Added +12.1k +12,133
78 MAD RIVER INVESTORS 3.09% of their portfolio BOSTON, MA 73,26173.3k $6.9m $6.9m 3.09% Reduced -1.8k -1,792
79 NewEdge Advisors, LLC 0.03% of their portfolio NEW ORLEANS, LA 69,85569.9k $6.6m $6.6m 0.03% Added +31.4k +31,394
80 SIMPLEX TRADING, LLC 0.18% of their portfolio CHICAGO, IL 69,77169.8k $6.6m $6.6m 0.18% Reduced -49.3k -49,274
81 Modus Advisors, LLC 1.90% of their portfolio EXCELSIOR, MN 67,99868.0k $6.4m $6.4m 1.90% Reduced -21.0k -21,032
82 Aptus Capital Advisors, LLC 0.06% of their portfolio FAIRHOPE, AL 67,55767.6k $6.3m $6.3m 0.06% Added +11.5k +11,494
83 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 65,00065.0k $6.1m $6.1m 0.01% New
84 BECK CAPITAL MANAGEMENT, LLC 1.50% of their portfolio AUSTIN, TX 63,77663.8k $6.0m $6.0m 1.50% Reduced -1.0k -1,035
85 SevenBridge Financial Group, LLC 1.17% of their portfolio HARRISBURG, PA 63,40663.4k $6.6m $6.6m 1.17% Added +13.3k +13,312
86 Arkos Global Advisors 0.81% of their portfolio HOUSTON, TX 62,11862.1k $5.8m $5.8m 0.81% Added +31.9k +31,894
87 Beaird Harris Wealth Management, LLC 0.44% of their portfolio DALLAS, TX 60,97761.0k $5.7m $5.7m 0.44% Added +1.3k +1,280
88 Avenir Tech Ltd 0.47% of their portfolio CENTRAL, HONG KONG, K3 58,61858.6k $5.5m $5.5m 0.47% Reduced -9 -9
89 Smart Money Group LLC 1.71% of their portfolio EASTLAND, TX 57,90557.9k $5.4m $5.4m 1.71% Added +2.3k +2,343
90 Pasadena Private Wealth, LLC 0.91% of their portfolio PASADENA, CA 56,76556.8k $5.3m $5.3m 0.91% Reduced -22.0k -22,046
91 AM INVESTMENT STRATEGIES LLC 1.22% of their portfolio CHATTANOOGA, TN 54,94754.9k $5.2m $5.2m 1.22% Added +9.7k +9,731
92 Farther Finance Advisors, LLC 0.10% of their portfolio SAN FRANCISCO, CA 53,78153.8k $5.1m $5.1m 0.10% Added +46.3k +46,289
93 Peregrine Asset Advisers, Inc. 1.58% of their portfolio Portland, OR 53,75953.8k $5.1m $5.1m 1.58% Added +17.3k +17,346
94 Cambridge Advisors Inc. 1.05% of their portfolio OMAHA, NE 53,41153.4k $5.0m $5.0m 1.05% Added +1.2k +1,235
95 PYA Waltman Capital, LLC 1.43% of their portfolio KNOXVILLE, TN 52,68852.7k $5.0m $5.0m 1.43% Added +2.5k +2,459
96 Claar Advisors LLC 1.51% of their portfolio NEW YORK, NY 52,50052.5k $4.9m $4.9m 1.51% Reduced -101.9k -101,934
97 QTR Family Wealth, LLC 3.04% of their portfolio LAKE MARY, FL 52,16352.2k $4.9m $4.9m 3.04% Reduced -36.9k -36,924
98 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 52,00052.0k $4.9m $4.9m 0.00% Reduced -1.9m -1,900,000
99 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 51,91151.9k $4.9m $4.9m 0.01% Added +15.7k +15,725
100 Spire Wealth Management 0.17% of their portfolio MCLEAN, VA 51,53551.5k $4.8m $4.8m 0.17% Reduced -1.5k -1,482