Vault-13

INVESCO GALAXY BITCOIN ETF BTCO

COM SHS BEN INT · ETP · CUSIP 46091J101

65 institutional holders +0 vs Q3 2025
2,387,9352.4m shares reported held*
$208.1mreported value*
10 new 23 added 12 reduced 11 sold out net bought ≈ $12.0m (+137.8k 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 ≈ $87.16. Options: 1 managers hold calls ($357.4k notional), 1 hold puts ($8.7k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q1 24: 21Q2 24: 40Q3 24: 37Q4 24: 56Q1 25: 52Q2 25: 58Q3 25: 65Q4 25: 6565Q1 24Q3 24Q1 25Q3 25Q4 25
Numbers
QuarterHolders
Q1 202421
Q2 202440
Q3 202437
Q4 202456
Q1 202552
Q2 202558
Q3 202565
Q4 202565

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 24: 26 bought or addedQ2 24: 6 cut or sold outQ2 24Q3 24: 14 bought or addedQ3 24: 18 cut or sold outQ4 24: 32 bought or addedQ4 24: 14 cut or sold outQ4 24Q1 25: 26 bought or addedQ1 25: 21 cut or sold outQ2 25: 32 bought or addedQ2 25: 22 cut or sold outQ2 25Q3 25: 36 bought or addedQ3 25: 15 cut or sold outQ4 25: 33 bought or addedQ4 25: 23 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q2 2024266
Q3 20241418
Q4 20243214
Q1 20252621
Q2 20253222
Q3 20253615
Q4 20253323

Calls vs puts

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

CallsPuts
$0$100k$200k$300k$400kQ1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $357.4kQ4 25 puts: $8.7kQ4 25P/C 0.02
Numbers
QuarterCallsPutsP/C
Q1 2025$0$0—
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$357.4k$8.7k0.02

Biggest buyers

Gradient Investments LLC New +415,168+415.2k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +26,796+26.8k
Brown Financial Advisors New +22,132+22.1k
Key Client Fiduciary Advisors, LLC Added +18,407+18.4k
Farringdon Capital, Ltd. Added +16,746+16.7k
Arete Wealth Advisors, LLC Added +15,014+15.0k
Paladin Wealth, LLC New +14,143+14.1k
Cetera Investment Advisers Added +11,945+11.9k
Mattson Financial Services, LLC New +10,437+10.4k
ENVESTNET ASSET MANAGEMENT INC Added +8,506+8.5k

Biggest sellers

Tidal Investments LLC Sold out -289,594-289.6k
WELLS FARGO & COMPANY/MN Reduced -89,722-89.7k
Virtu Financial LLC Reduced -74,368-74.4k
RENAISSANCE TECHNOLOGIES LLC Reduced -11,700-11.7k
JANE STREET GROUP, LLC Sold out -6,281-6.3k
Gerber Kawasaki Wealth & Investment Management Sold out -6,000-6.0k
Fermata Advisors, LLC Sold out -3,168-3.2k
Focus Partners Advisor Solutions, LLC Sold out -2,882-2.9k
Kercheville Advisors, LLC Sold out -2,600-2.6k
AdvisorNet Financial, Inc Reduced -640-640

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $357.4k4.1k shares

Biggest puts

SIMPLEX TRADING, LLC New $8.7k100 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 Q4 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 Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Galaxy Group Investments LLC 8.77% of their portfolio NEW YORK, NY 725,000725.0k $63.2m $63.2m 8.77% Unchanged
2 Gradient Investments LLC 0.57% of their portfolio ARDEN HILLS, MN 415,168415.2k $36.2m $36.2m 0.57% New
3 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 308,708308.7k $26.9m $26.9m 0.01% Reduced -89.7k -89,722
4 Cresset Asset Management, LLC 0.06% of their portfolio Chicago, IL 172,095172.1k $15.0m $15.0m 0.06% Unchanged
5 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 96,04696.0k $8.4m $8.4m 0.01% Added +26.8k +26,796
6 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 82,31182.3k $7.2m $7.2m 0.00% Added +5.9k +5,865
7 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 62,43962.4k $5.4m $5.4m 0.00% Added +4.5k +4,456
8 Farringdon Capital, Ltd. 1.22% of their portfolio LONDON, X0 57,25957.3k $5.0m $5.0m 1.22% Added +16.7k +16,746
9 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 54,05054.0k $4.7m $4.7m 0.01% Added +11.9k +11,945
10 MEITAV INVESTMENT HOUSE LTD 0.03% of their portfolio BENE-BERAQ, L3 32,64732.6k $2.8m $2.8m 0.03% Added +6.2k +6,245
11 Arete Wealth Advisors, LLC 0.19% of their portfolio CHICAGO, IL 30,64730.6k $2.7m $2.7m 0.19% Added +15.0k +15,014
12 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 29,38729.4k $2.6m $2.6m 0.00% Added +8.5k +8,506
13 Virtu Financial LLC 0.10% of their portfolio New York, NY 28,27728.3k $2.5m $2.5m 0.10% Reduced -74.4k -74,368
14 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 24,87524.9k $2.2m $2.2m 0.01% Reduced -155 -155
15 Brown Financial Advisors 0.71% of their portfolio MILFORD, OH 22,13222.1k $1.9m $1.9m 0.71% New
16 Key Client Fiduciary Advisors, LLC 0.65% of their portfolio Fairfield, NJ 21,41921.4k $1.9m $1.9m 0.65% Added +18.4k +18,407
17 RPO LLC 2.03% of their portfolio Stamford, CT 20,30020.3k $1.8m $1.8m 2.03% Unchanged
18 Fortis Group Advisors, LLC 0.22% of their portfolio WESTWOOD, NJ 15,47015.5k $1.3m $1.3m 0.22% Added +3.2k +3,215
19 Paladin Wealth, LLC 0.84% of their portfolio ARDEN HILLS, MN 14,14314.1k $1.2m $1.2m 0.84% New
20 FLOW TRADERS U.S. LLC 0.04% of their portfolio NEW YORK, NY 13,03013.0k $1.1m $1.1m 0.04% Added +5.0k +5,025
21 Tolleson Wealth Management, Inc. 0.16% of their portfolio DALLAS, TX 13,03013.0k $1.1m $1.1m 0.16% Unchanged
22 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 11,90011.9k $1.0m $1.0m 0.00% Reduced -11.7k -11,700
23 Brookstone Capital Management 0.01% of their portfolio WHEATON, IL 11,84311.8k $1.0m $1.0m 0.01% Added +1.3k +1,345
24 OLD MISSION CAPITAL LLC 0.04% of their portfolio CHICAGO, IL 11,80811.8k $1.0m $1.0m 0.04% Added +4.0k +3,962
25 Mattson Financial Services, LLC 0.21% of their portfolio KENTWOOD, MI 10,43710.4k $909.8k $909.8k 0.21% New
26 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 7,8977.9k $727.2k $727.2k 0.00% New
27 RM Financial Services, LLC 0.60% of their portfolio FALMOUTH, ME 7,7827.8k $678.4k $678.4k 0.60% First filing
28 Venture Visionary Partners LLC 0.02% of their portfolio Sylvania, OH 7,1007.1k $618.9k $618.9k 0.02% Reduced -550 -550
29 Valeo Financial Advisors, LLC 0.01% of their portfolio CARMEL, IN 7,0867.1k $617.7k $617.7k 0.01% Unchanged
30 Vise Technologies, Inc. 0.01% of their portfolio NEW YORK, NY 6,7686.8k $590.0k $590.0k 0.01% New
31 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 6,6016.6k $575.0k $575.0k 0.00% Reduced -408 -408
32 Milestone Asset Management Group, LLC 0.31% of their portfolio AVON, CT 6,2566.3k $545.3k $545.3k 0.31% Reduced -57 -57
33 Watchman Group, Inc. 0.13% of their portfolio PLANO, TX 6,2106.2k $541.3k $541.3k 0.13% Added +3.1k +3,091
34 GREAT VALLEY ADVISOR GROUP, INC. 0.01% of their portfolio WILMINGTON, DE 6,0006.0k $523.0k $523.0k 0.01% New
35 A4 Wealth Advisors LLC 0.33% of their portfolio HUNTERSVILLE, NC 4,4194.4k $385.2k $385.2k 0.33% New
36 KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio AUSTIN, TX 4,2394.2k $369.5k $369.5k 0.00% Unchanged
37 Financial Security Advisor, Inc. 0.07% of their portfolio VIRGINIA BEACH, VA 4,2074.2k $366.7k $366.7k 0.07% Reduced -145 -145
38 Harel Insurance Investments & Financial Services Ltd. 0.00% of their portfolio Ramat Gan, L3 3,8573.9k $336.0k $336.0k 0.00% Added +2.4k +2,444
39 Retirement Planning Group, LLC 0.01% of their portfolio LEAWOOD, KS 2,7212.7k $237.2k $237.2k 0.01% Reduced -34 -34
40 Mariner, LLC 0.00% of their portfolio Overland Park, KS 2,6742.7k $233.1k $233.1k 0.00% Added +600 +600
41 Geneos Wealth Management Inc. 0.01% of their portfolio ENGLEWOOD, CO 2,5742.6k $224.4k $224.4k 0.01% Reduced -158 -158
42 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 2,5342.5k $220.9k $220.9k 0.01% Added +686 +686
43 Fortress Financial Solutions, LLC 0.22% of their portfolio TUCSON, AZ 2,4202.4k $211.0k $211.0k 0.22% Unchanged
44 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,1282.1k $185.5k $185.5k 0.00% Added +2.1k +2,127
45 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 1,5001.5k $130.8k $130.8k 0.00% Unchanged
46 AdvisorNet Financial, Inc 0.01% of their portfolio MINNETONKA, MN 1,2471.2k $108.7k $108.7k 0.01% Reduced -640 -640
47 TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH PZU SA 0.03% of their portfolio WARSAW, R9 1,1401.1k $99.4k $99.4k 0.03% Added +570 +570
48 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 1,0641.1k $92.7k $92.7k 0.00% New
49 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 1,0401.0k $90.7k $90.7k 0.00% Added +704 +704
50 CWM, LLC 0.00% of their portfolio OMAHA, NE 813813 $71.0k $71.0k 0.00% Unchanged
51 KELLEHER FINANCIAL ADVISORS 0.01% of their portfolio NEW YORK, NY 520520 $45.3k $45.3k 0.01% Unchanged
52 Clearstead Advisors, LLC 0.00% of their portfolio CLEVELAND, OH 500500 $43.6k $43.6k 0.00% Unchanged
53 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 498498 $43.4k $43.4k 0.00% New
54 THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. 0.01% of their portfolio INDIANAPOLIS, IN 358358 $31.2k $31.2k 0.01% Added +216 +216
55 TSFG, LLC 0.00% of their portfolio LAKE FOREST, IL 320320 $28.0k $28.0k 0.00% Unchanged
56 1620 INVESTMENT ADVISORS, INC. 0.02% of their portfolio PLYMOUTH, MA 285285 $24.8k $24.8k 0.02% Unchanged
57 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 250250 $21.8k $21.8k 0.00% Unchanged
58 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 114114 $10.0k $10.0k 0.00% Added +11 +11
59 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 100100 $8.7k $8.7k 0.00% Unchanged
60 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 100100 $8.7k $8.7k 0.00% Unchanged
61 QUADRANT CAPITAL GROUP LLC 0.00% of their portfolio CINCINNATI, OH 9494 $8.2k $8.2k 0.00% Unchanged
62 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 5050 $4.4k $4.4k 0.00% Added +10 +10
63 Westside Investment Management, Inc. 0.00% of their portfolio SANTA MONICA, CA 4040 $3.5k $3.5k 0.00% Unchanged
64 Valued Wealth Advisors LLC 0.00% of their portfolio HOLLADAY, UT 77 $611 $611 0.00% Reduced -9 -9
65 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 11 $87 $87 0.00% Unchanged