Vault-13

ISHARES BITCOIN TRUST ETF IBIT

SHS BEN INT · ETP · CUSIP 46438F101 · ISIN US46438F1012

1,632 institutional holders +191 vs Q2 2025
422,253,209422.3m shares reported held*
$27.4bnreported value*
287 new 880 added 247 reduced 89 sold out net bought ≈ $3.0bn (+44.3m 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 ($62.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $64.78. Options: 95 managers hold calls ($14.6bn notional), 68 hold puts ($10.1bn).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

01k2kQ1 24: 444Q2 24: 601Q3 24: 678Q4 24: 1,116Q1 25: 1,192Q2 25: 1,441Q3 25: 1,6321,632Q1 24Q3 24Q1 25Q3 25
Numbers
QuarterHolders
Q1 2024444
Q2 2024601
Q3 2024678
Q4 20241,116
Q1 20251,192
Q2 20251,441
Q3 20251,632

Buyers vs sellers

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

Bought or addedCut or sold out
2k02kQ2 24: 465 bought or addedQ2 24: 118 cut or sold outQ2 24Q3 24: 443 bought or addedQ3 24: 168 cut or sold outQ3 24Q4 24: 822 bought or addedQ4 24: 165 cut or sold outQ4 24Q1 25: 829 bought or addedQ1 25: 357 cut or sold outQ1 25Q2 25: 995 bought or addedQ2 25: 309 cut or sold outQ2 25Q3 25: 1,167 bought or addedQ3 25: 336 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q2 2024465118
Q3 2024443168
Q4 2024822165
Q1 2025829357
Q2 2025995309
Q3 20251,167336

Calls vs puts

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

CallsPuts
$0$5bn$10bn$15bnQ4 24 calls: $3.6bnQ4 24 puts: $2.9bnQ4 24P/C 0.80Q1 25 calls: $3.6bnQ1 25 puts: $2.4bnQ1 25P/C 0.67Q2 25 calls: $6.7bnQ2 25 puts: $5.7bnQ2 25P/C 0.84Q3 25 calls: $14.6bnQ3 25 puts: $10.1bnQ3 25P/C 0.69
Numbers
QuarterCallsPutsP/C
Q4 2024$3.6bn$2.9bn0.80
Q1 2025$3.6bn$2.4bn0.67
Q2 2025$6.7bn$5.7bn0.84
Q3 2025$14.6bn$10.1bn0.69

Biggest buyers

GOLDMAN SACHS GROUP INC Added +8,342,835+8.3m
JPMORGAN CHASE & CO Added +7,351,324+7.4m
Marex Group Ltd Added +5,852,408+5.9m
Al Warda Investments RSC Ltd Added +5,552,359+5.6m
HARVARD MANAGEMENT CO INC Added +4,907,612+4.9m
WELLS FARGO & COMPANY/MN Added +4,260,173+4.3m
DRW Securities, LLC Added +3,167,885+3.2m
MORGAN STANLEY Added +3,082,394+3.1m
Weiss Asset Management LP Added +2,840,815+2.8m
59 North Capital Management, LP New +2,601,533+2.6m

Biggest sellers

JANE STREET GROUP, LLC Reduced -10,757,025-10.8m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -8,862,357-8.9m
Castle Hook Partners LP Reduced -4,111,700-4.1m
Proficio Capital Partners LLC Reduced -3,537,685-3.5m
Tairen Capital Ltd Sold out -2,364,700-2.4m
BlueCrest Capital Management Ltd Sold out -1,731,864-1.7m
TUDOR INVESTMENT CORP ET AL Reduced -1,543,122-1.5m
Trivest Advisors Ltd Sold out -1,477,800-1.5m
Sculptor Capital LP Reduced -1,195,179-1.2m
NINE MASTS CAPITAL Ltd Sold out -1,193,390-1.2m

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.3bn50.5m shares
JANE STREET GROUP, LLC Added $3.2bn49.2m shares
CITADEL ADVISORS LLC Added $1.7bn26.6m shares
Castle Hook Partners LP Added $1.3bn20.0m shares
SIMPLEX TRADING, LLC Added $1.1bn17.2m shares
GOLDMAN SACHS GROUP INC Reduced $459.7m7.1m shares
WOLVERINE TRADING, LLC New $389.3m6.0m shares
EXCHANGE TRADED CONCEPTS, LLC Added $338.2m5.2m shares
Tidal Investments LLC Added $264.8m4.1m shares
Belvedere Trading LLC Added $214.7m3.3m shares

Biggest puts

GOLDMAN SACHS GROUP INC Added $1.7bn25.9m shares
JANE STREET GROUP, LLC Added $1.7bn25.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.6bn24.8m shares
CITADEL ADVISORS LLC Added $712.4m11.0m shares
SIMPLEX TRADING, LLC Added $666.9m10.3m shares
Clear Street Group Inc. First filing $434.9m6.7m shares
Hudson Bay Capital Management LP Added $360.0m5.5m shares
Belvedere Trading LLC Added $287.3m4.4m shares
JPMORGAN CHASE & CO New $266.6m4.1m shares
BARCLAYS PLC Added $185.0m2.8m 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 Brevan Howard Capital Management LP 34.27% of their portfolio ST. HELIER, Y9 36,752,74836.8m $2.4bn $2.4bn 34.27% Reduced -753.3k -753,309
2 GOLDMAN SACHS GROUP INC 0.32% of their portfolio NEW YORK, NY 33,963,32434.0m $2.2bn $2.2bn 0.32% Added +8.3m +8,342,835
3 MILLENNIUM MANAGEMENT LLC 1.05% of their portfolio NEW YORK, NY 20,519,10620.5m $1.3bn $1.3bn 1.05% Reduced -915.2k -915,232
4 Avenir Tech Ltd 90.48% of their portfolio CENTRAL, HONG KONG, K3 18,297,10718.3m $1.2bn $1.2bn 90.48% Added +1.7m +1,738,444
5 JANE STREET GROUP, LLC 1.00% of their portfolio NEW YORK, NY 13,210,57413.2m $858.7m $858.7m 1.00% Reduced -10.8m -10,757,025
6 Symmetry Investments LP 59.32% of their portfolio ST HELIER, Y9 11,234,74011.2m $730.3m $730.3m 59.32% Unchanged
7 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 11,066,17711.1m $719.3m $719.3m 0.04% Added +3.1m +3,082,394
8 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 10,568,38010.6m $686.9m $686.9m 0.02% Added +7.4m +7,351,324
9 BlackRock, Inc. 0.01% of their portfolio New York, NY 10,392,82610.4m $675.5m $675.5m 0.01% Added +2.5m +2,507,234
10 Weiss Asset Management LP 9.34% of their portfolio BOSTON, MA 10,058,65310.1m $653.8m $653.8m 9.34% Added +2.8m +2,840,815
11 Capula Management Ltd 4.58% of their portfolio Grand Cayman, E9 9,481,9099.5m $616.3m $616.3m 4.58% Added +676 +676
12 Mubadala Investment Co PJSC 3.17% of their portfolio Abu Dhabi, C0 8,726,9728.7m $567.3m $567.3m 3.17% Unchanged
13 Al Warda Investments RSC Ltd 100.00% of their portfolio ABU DHABI, C0 7,963,3938.0m $517.6m $517.6m 100.00% Added +5.6m +5,552,359
14 Clear Street Group Inc. 2.38% of their portfolio NEW YORK, NY 7,509,4217.5m $488.1m $488.1m 2.38% First filing
15 D. E. Shaw & Co., Inc. 0.37% of their portfolio New York, NY 7,063,6197.1m $459.1m $459.1m 0.37% Reduced -299.9k -299,876
16 FARALLON CAPITAL MANAGEMENT, L.L.C. 2.57% of their portfolio SAN FRANCISCO, CA 6,992,7007.0m $454.5m $454.5m 2.57% Reduced -27.4k -27,350
17 WELLS FARGO & COMPANY/MN 0.09% of their portfolio SAN FRANCISCO, CA 6,888,0636.9m $447.7m $447.7m 0.09% Added +4.3m +4,260,173
18 HARVARD MANAGEMENT CO INC 21.04% of their portfolio BOSTON, MA 6,813,6126.8m $442.9m $442.9m 21.04% Added +4.9m +4,907,612
19 Schonfeld Strategic Advisors LLC 3.08% of their portfolio NEW YORK, NY 6,782,3986.8m $440.9m $440.9m 3.08% Added +1.1m +1,118,183
20 Marex Group Ltd 4.80% of their portfolio London, X0 5,973,2716.0m $388.1m $388.1m 4.80% Added +5.9m +5,852,408
21 Galaxy Group Investments LLC 31.94% of their portfolio NEW YORK, NY 5,024,2415.0m $326.6m $326.6m 31.94% Reduced -414.9k -414,859
22 IMC-Chicago, LLC 5.37% of their portfolio CHICAGO, IL 4,654,0294.7m $302.5m $302.5m 5.37% Added +522.0k +522,019
23 MACQUARIE GROUP LTD 0.33% of their portfolio Sydney, NSW 2000, C3 4,404,7924.4m $286.3m $286.3m 0.33% Added +1.3m +1,327,500
24 BARCLAYS PLC 0.10% of their portfolio LONDON, X0 4,307,1414.3m $280.0m $280.0m 0.10% Added +117.1k +117,083
25 DRW Securities, LLC 12.91% of their portfolio CHICAGO, IL 3,864,3143.9m $251.2m $251.2m 12.91% Added +3.2m +3,167,885
26 Sculptor Capital LP 2.95% of their portfolio New York, NY 3,292,0683.3m $214.0m $214.0m 2.95% Reduced -1.2m -1,195,179
27 TUDOR INVESTMENT CORP ET AL 1.24% of their portfolio STAMFORD, CT 2,946,3222.9m $191.5m $191.5m 1.24% Reduced -1.5m -1,543,122
28 BSN CAPITAL PARTNERS Ltd 13.10% of their portfolio 2,800,0002.8m $166.9m $166.9m 13.10% Unchanged
29 Mint Tower Capital Management B.V. 21.69% of their portfolio AMSTERDAM, P7 2,661,5352.7m $173.0m $173.0m 21.69% Reduced -187.8k -187,750
30 59 North Capital Management, LP 5.27% of their portfolio Houston, TX 2,601,5332.6m $169.1m $169.1m 5.27% New
31 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 2,479,2052.5m $161.1m $161.1m 0.05% Added +678.9k +678,853
32 Hudson Bay Capital Management LP 0.95% of their portfolio STAMFORD, CT 2,406,5782.4m $156.4m $156.4m 0.95% Added +1.5m +1,457,757
33 Graham Capital Management, L.P. 5.57% of their portfolio ROWAYTON, CT 2,312,4122.3m $150.3m $150.3m 5.57% Reduced -243.3k -243,296
34 Belvedere Trading LLC 12.06% of their portfolio CHICAGO, IL 2,310,4242.3m $150.2m $150.2m 12.06% Added +747.0k +747,033
35 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.22% of their portfolio BALA CYNWYD, PA 2,302,8802.3m $149.7m $149.7m 0.22% Reduced -8.9m -8,862,357
36 CRCM LP 41.63% of their portfolio SAN FRANCISCO, CA 2,214,0742.2m $143.9m $143.9m 41.63% Added +606.0k +605,992
37 Pine Ridge Advisers LLC 9.73% of their portfolio NEW YORK, NY 2,184,6002.2m $142.0m $142.0m 9.73% Added +25.0k +25,010
38 Jain Global LLC 1.76% of their portfolio NEW YORK, NY 2,078,7782.1m $135.1m $135.1m 1.76% Added +621.9k +621,855
39 MARINER INVESTMENT GROUP LLC 40.48% of their portfolio NEW YORK, NY 2,015,0942.0m $131.0m $131.0m 40.48% Added +1.2m +1,183,414
40 NWI MANAGEMENT LP 6.63% of their portfolio NEW YORK, NY 2,000,0002.0m $130.0m $130.0m 6.63% New
41 Trans-Canada Capital Inc. 7.47% of their portfolio MONTREAL, A8 1,891,8011.9m $123.0m $123.0m 7.47% Added +440.1k +440,100
42 Verde Servicos Internacionais S.A. 33.62% of their portfolio SAO PAULO, D5 1,813,4491.8m $117.9m $117.9m 33.62% Added +1.1m +1,135,290
43 Senator Investment Group LP 4.32% of their portfolio New York, NY 1,798,0001.8m $116.9m $116.9m 4.32% Reduced -14.0k -14,000
44 Pinpoint Asset Management (Singapore) Pte. Ltd. 20.73% of their portfolio SINGAPORE, U0 1,787,5711.8m $116.2m $116.2m 20.73% Reduced -65.1k -65,135
45 Verition Fund Management LLC 0.66% of their portfolio GREENWICH, CT 1,782,6271.8m $115.9m $115.9m 0.66% Added +538.9k +538,888
46 MARSHALL WACE, LLP 0.12% of their portfolio LONDON, X0 1,645,4901.6m $107.0m $107.0m 0.12% Added +1.5m +1,476,741
47 Cerity Partners LLC 0.17% of their portfolio NEW YORK, NY 1,571,5571.6m $102.2m $102.2m 0.17% Added +533.5k +533,498
48 Balyasny Asset Management L.P. 0.20% of their portfolio Chicago, IL 1,544,5041.5m $100.4m $100.4m 0.20% Added +1.4m +1,399,532
49 SIMPLEX TRADING, LLC 2.19% of their portfolio CHICAGO, IL 1,528,6151.5m $99.4m $99.4m 2.19% Added +1.2m +1,239,047
50 CANTOR FITZGERALD, L. P. 1.92% of their portfolio NEW YORK, NY 1,504,7461.5m $97.8m $97.8m 1.92% Reduced -67.4k -67,412
51 ParaFi Capital LP 20.83% of their portfolio NEW YORK, NY 1,475,0001.5m $95.9m $95.9m 20.83% Reduced -400.0k -400,003
52 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 1,472,1971.5m $95.7m $95.7m 0.02% Added +1.4m +1,402,157
53 BANK OF MONTREAL /CAN/ 0.04% of their portfolio TORONTO, A6 1,379,8211.4m $89.7m $89.7m 0.04% New
54 HRTG GPE, LLC 9.21% of their portfolio WILSON, WY 1,328,9091.3m $86.4m $86.4m 9.21% Added +458.1k +458,064
55 Fortress Investment Group LLC 11.53% of their portfolio NEW YORK, NY 1,325,0001.3m $86.1m $86.1m 11.53% Unchanged
56 CITADEL ADVISORS LLC 0.07% of their portfolio MIAMI, FL 1,283,7261.3m $83.4m $83.4m 0.07% Reduced -367.7k -367,697
57 WINTON GROUP Ltd 3.07% of their portfolio LONDON, X0 1,259,7431.3m $81.9m $81.9m 3.07% Added +212.3k +212,335
58 Walleye Trading LLC 1.24% of their portfolio NEW YORK, NY 1,195,0481.2m $77.7m $77.7m 1.24% Added +1.1m +1,081,820
59 Ovata Capital Management Ltd 14.80% of their portfolio HONG KONG, K3 1,142,8051.1m $74.0m $74.0m 14.80% Unchanged
60 Betterment LLC 0.14% of their portfolio NEW YORK, NY 1,085,5591.1m $70.6m $70.6m 0.14% Added +202.4k +202,418
61 Lantern Wealth Advisors, LLC 0.16% of their portfolio MELVILLE, NY 1,003,5831.0m $297.9k $297.9k 0.16% New
62 Cetera Investment Advisers 0.07% of their portfolio SCHAUMBURG, IL 991,001991.0k $64.4m $64.4m 0.07% Added +429.3k +429,323
63 Tidal Investments LLC 0.27% of their portfolio Milwaukee, WI 965,074965.1k $62.7m $62.7m 0.27% Added +451.0k +451,019
64 Squarepoint Ops LLC 0.13% of their portfolio NEW YORK, NY 931,454931.5k $60.5m $60.5m 0.13% Added +508.4k +508,425
65 Private Advisor Group, LLC 0.29% of their portfolio MORRISTOWN, NJ 913,746913.7k $59.4m $59.4m 0.29% Added +239.7k +239,698
66 HighTower Advisors, LLC 0.07% of their portfolio CHICAGO, IL 901,964902.0k $58.6m $58.6m 0.07% Added +315.3k +315,278
67 Castle Hook Partners LP 0.83% of their portfolio NEW YORK, NY 842,915842.9k $54.8m $54.8m 0.83% Reduced -4.1m -4,111,700
68 Elequin Capital, LP 4.61% of their portfolio NEW YORK, NY 831,683831.7k $54.1m $54.1m 4.61% Reduced -424.0k -423,999
69 HORIZON KINETICS ASSET MANAGEMENT LLC 0.66% of their portfolio NEW YORK, NY 826,901826.9k $53.7m $53.7m 0.66% Reduced -135.0k -135,026
70 Allen Investment Management, LLC 0.57% of their portfolio NEW YORK, NY 795,313795.3k $51.7m $51.7m 0.57% Added +670.9k +670,903
71 Cresset Asset Management, LLC 0.23% of their portfolio Chicago, IL 791,948791.9k $51.5m $51.5m 0.23% Added +352.1k +352,147
72 Wealthfront Advisers LLC 0.12% of their portfolio Palo Alto, CA 777,231777.2k $50.5m $50.5m 0.12% Added +105.6k +105,646
73 NewEdge Advisors, LLC 0.14% of their portfolio NEW ORLEANS, LA 743,994744.0k $31.6m $31.6m 0.14% Added +227.3k +227,290
74 Cambridge Investment Research Advisors, Inc. 0.13% of their portfolio FAIRFIELD, IA 735,981736.0k $47.8m $47.8m 0.13% Added +116.7k +116,665
75 Harvest Portfolios Group Inc. 0.88% of their portfolio Oakville, A6 730,414730.4k $47.5m $47.5m 0.88% Added +447.5k +447,507
76 Mariner, LLC 0.06% of their portfolio Overland Park, KS 692,915692.9k $45.0m $45.0m 0.06% Added +117.3k +117,266
77 CAPTRUST FINANCIAL ADVISORS 0.09% of their portfolio RALEIGH, NC 691,730691.7k $45.0m $45.0m 0.09% Added +397.0k +397,047
78 ALLEN OPERATIONS LLC 5.20% of their portfolio NEW YORK, NY 670,200670.2k $43.6m $43.6m 5.20% Unchanged
79 PNC Financial Services Group, Inc. 0.03% of their portfolio Pittsburgh, PA 642,346642.3k $41.8m $41.8m 0.03% Reduced -3.9k -3,929
80 KALEIDOSCOPE CAPITAL LP 11.89% of their portfolio BOSTON, MA 640,304640.3k $41.6m $41.6m 11.89% Reduced -302.7k -302,706
81 Simplify Asset Management Inc. 0.84% of their portfolio Las Vegas, NV 636,000636.0k $41.3m $41.3m 0.84% New
82 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 635,265635.3k $41.3m $41.3m 0.05% Added +39.3k +39,335
83 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 627,449627.4k $40.8m $40.8m 0.00% Added +159.7k +159,655
84 Financial Engines Advisors L.L.C. 0.08% of their portfolio SANTA CLARA, CA 609,403609.4k $39.6m $39.6m 0.08% Added +79.5k +79,515
85 TITAN GLOBAL CAPITAL MANAGEMENT USA LLC 5.82% of their portfolio NEW YORK, NY 608,287608.3k $39.5m $39.5m 5.82% Reduced -6.9k -6,946
86 Nearwater Capital Markets, Ltd 0.52% of their portfolio NEW YORK, NY 600,000600.0k $39.0m $39.0m 0.52% New
87 Horizon Investments, LLC 0.50% of their portfolio Charlotte, NC 586,779586.8k $38.1m $38.1m 0.50% New
88 Pilgrim Partners Asia Pte Ltd 16.58% of their portfolio SINGAPORE, U0 572,717572.7k $37.2m $37.2m 16.58% First filing
89 ACORN FINANCIAL ADVISORY SERVICES INC /ADV 5.62% of their portfolio Reston, VA 563,509563.5k $36.6m $36.6m 5.62% Added +22.7k +22,675
90 WOLVERINE ASSET MANAGEMENT LLC 0.53% of their portfolio CHICAGO, IL 553,690553.7k $36.0m $36.0m 0.53% Reduced -609.1k -609,104
91 Copperleaf Capital, LLC 16.72% of their portfolio CONCORD, NC 536,552536.6k $34.9m $34.9m 16.72% Added +77.4k +77,414
92 Financial Sense Advisors, Inc. 6.37% of their portfolio SAN DIEGO, CA 531,055531.1k $34.5m $34.5m 6.37% Reduced -104.9k -104,911
93 Sanctuary Advisors, LLC 0.09% of their portfolio INDIANAPOLIS, IN 528,587528.6k $30.8m $30.8m 0.09% Added +265.9k +265,871
94 Yarbrough Capital, LLC 1.06% of their portfolio FRANKLIN, TN 524,213524.2k $34.1m $34.1m 1.06% Unchanged
95 HIMENSION CAPITAL (SINGAPORE) PTE. LTD. 2.04% of their portfolio SINGAPORE, U0 510,642510.6k $33.2m $33.2m 2.04% Reduced -4.4k -4,416
96 Oxler Private Wealth LLC 9.48% of their portfolio Rye Brook, NY 501,271501.3k $32.6m $32.6m 9.48% Reduced -9.4k -9,383
97 Hunting Hill Global Capital, LLC 12.20% of their portfolio New York, NY 498,169498.2k $32.4m $32.4m 12.20% Added +218.2k +218,203
98 Paragon Advisors, LLC 8.29% of their portfolio COLLEGE STATION, TX 493,304493.3k $32.1m $32.1m 8.29% Added +21.5k +21,549
99 Corient Private Wealth LP 0.05% of their portfolio MIAMI, FL 480,193480.2k $31.2m $31.2m 0.05% Added +160.9k +160,917
100 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 476,681476.7k $31.0m $31.0m 0.02% Added +53.1k +53,105