Vault-13

PROSHARES TR BITO

BITCOIN STRATE · ETP · CUSIP 74347G440 · ISIN US74347G4405

193 institutional holders +13 vs Q1 2025
17,158,77317.2m shares reported held*
$368.6mreported value*
39 new 77 added 41 reduced 26 sold out net sold ≈ $41.5m (-1.9m 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 ≈ $21.48. Options: 11 managers hold calls ($80.1m notional), 11 hold puts ($177.8m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 160Q4 22: 159Q1 23: 153Q2 23: 163Q3 23: 155Q4 23: 193Q1 24: 203Q2 24: 188Q3 24: 178Q4 24: 200Q1 25: 180Q2 25: 193193Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022160
Q4 2022159
Q1 2023153
Q2 2023163
Q3 2023155
Q4 2023193
Q1 2024203
Q2 2024188
Q3 2024178
Q4 2024200
Q1 2025180
Q2 2025193

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 68 bought or addedQ3 23: 66 cut or sold outQ4 23: 106 bought or addedQ4 23: 59 cut or sold outQ4 23Q1 24: 104 bought or addedQ1 24: 120 cut or sold outQ2 24: 88 bought or addedQ2 24: 98 cut or sold outQ2 24Q3 24: 91 bought or addedQ3 24: 81 cut or sold outQ4 24: 108 bought or addedQ4 24: 80 cut or sold outQ4 24Q1 25: 101 bought or addedQ1 25: 91 cut or sold outQ2 25: 116 bought or addedQ2 25: 67 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20236866
Q4 202310659
Q1 2024104120
Q2 20248898
Q3 20249181
Q4 202410880
Q1 202510191
Q2 202511667

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ3 24 calls: $369.3mQ3 24 puts: $304.3mQ3 24P/C 0.82Q4 24 calls: $345.6mQ4 24 puts: $303.4mQ4 24P/C 0.88Q1 25 calls: $106.3mQ1 25 puts: $150.3mQ1 25P/C 1.41Q2 25 calls: $80.1mQ2 25 puts: $177.8mQ2 25P/C 2.22
Numbers
QuarterCallsPutsP/C
Q3 2024$369.3m$304.3m0.82
Q4 2024$345.6m$303.4m0.88
Q1 2025$106.3m$150.3m1.41
Q2 2025$80.1m$177.8m2.22

Biggest buyers

JANE STREET GROUP, LLC Added +1,745,061+1.7m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +933,228+933.2k
CITADEL ADVISORS LLC New +709,431+709.4k
RK Capital Management, LLC/FL Added +482,220+482.2k
Fielder Capital Group LLC New +443,950+443.9k
RENAISSANCE TECHNOLOGIES LLC New +411,800+411.8k
Acorns Advisers, LLC Added +258,155+258.2k
Tidal Investments LLC Added +105,434+105.4k
SIH Partners, LLLP New +91,582+91.6k
Ausdal Financial Partners, Inc. New +82,748+82.7k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -6,570,924-6.6m
GROUP ONE TRADING LLC Sold out -218,856-218.9k
Proficio Capital Partners LLC Reduced -214,855-214.9k
SIMPLEX TRADING, LLC Sold out -138,514-138.5k
SIG North Trading, ULC Reduced -129,583-129.6k
BLUEFIN CAPITAL MANAGEMENT, LLC Reduced -94,500-94.5k
WOLVERINE TRADING, LLC Reduced -71,472-71.5k
Squarepoint Ops LLC Sold out -55,629-55.6k
Walleye Trading LLC Reduced -50,277-50.3k
CMT Capital Markets Trading GmbH Sold out -50,150-50.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $32.7m1.5m shares
CITADEL ADVISORS LLC Reduced $27.9m1.3m shares
JANE STREET GROUP, LLC Reduced $6.8m314.1k shares
WOLVERINE TRADING, LLC Reduced $6.4m301.3k shares
Greenland Capital Management LP Unchanged $4.3m200.0k shares
Walleye Trading LLC Reduced $940.0k43.7k shares
Balyasny Asset Management L.P. New $817.4k38.0k shares
Parallax Volatility Advisers, L.P. Reduced $169.9k7.9k shares
Belvedere Trading LLC Reduced $83.9k3.9k shares
BLUEFIN CAPITAL MANAGEMENT, LLC New $1.5k14.9k shares

Biggest puts

CITADEL ADVISORS LLC Added $54.5m2.5m shares
Graham Capital Management, L.P. Unchanged $53.8m2.5m shares
JANE STREET GROUP, LLC Added $25.8m1.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $24.6m1.1m shares
Balyasny Asset Management L.P. Reduced $9.6m447.6k shares
WOLVERINE TRADING, LLC Added $6.6m306.8k shares
Walleye Trading LLC Reduced $2.5m118.5k shares
Belvedere Trading LLC Reduced $397.9k18.5k shares
OLD MISSION CAPITAL LLC New $15.7k60.5k shares
Parallax Volatility Advisers, L.P. Reduced $2.2k100 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.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Acorns Advisers, LLC 0.73% of their portfolio IRVINE, CA 3,928,3023.9m $84.5m $84.5m 0.73% Added +258.2k +258,155
2 JANE STREET GROUP, LLC 0.09% of their portfolio NEW YORK, NY 2,498,4202.5m $53.7m $53.7m 0.09% Added +1.7m +1,745,061
3 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,597,9091.6m $34.4m $34.4m 0.01% Reduced -6.6m -6,570,924
4 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio BALA CYNWYD, PA 944,266944.3k $20.3m $20.3m 0.03% Added +933.2k +933,228
5 RK Capital Management, LLC/FL 21.99% of their portfolio Weston, FL 833,600833.6k $17.9m $17.9m 21.99% Added +482.2k +482,220
6 Faithward Advisors, LLC 2.62% of their portfolio LANCASTER, PA 785,517785.5k $16.9m $16.9m 2.62% Added +23.2k +23,237
7 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 709,431709.4k $15.3m $15.3m 0.01% New
8 Legacy Investment Solutions, LLC 5.81% of their portfolio BOISE, ID 510,712510.7k $11.0m $11.0m 5.81% First filing
9 Legacy Wealth Managment, LLC/ID 5.81% of their portfolio BOISE, ID 510,712510.7k $11.0m $11.0m 5.81% Reduced -425 -425
10 Fielder Capital Group LLC 2.55% of their portfolio NASHVILLE, TN 443,950443.9k $9.5m $9.5m 2.55% New
11 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 411,800411.8k $8.9m $8.9m 0.01% New
12 Tidal Investments LLC 0.05% of their portfolio Milwaukee, WI 381,148381.1k $7.8m $7.8m 0.05% Added +105.4k +105,434
13 Realta Investment Advisors 1.81% of their portfolio WILMINGTON, DE 213,521213.5k $4.6m $4.6m 1.81% Added +68.8k +68,849
14 MFA WEALTH ADVISORS, LLC 1.00% of their portfolio PITTSBURGH, PA 197,779197.8k $4.3m $4.3m 1.00% Reduced -6.1k -6,148
15 Dynamic Advisor Solutions LLC 0.13% of their portfolio PHOENIX, AZ 193,218193.2k $4.2m $4.2m 0.13% Added +64.9k +64,908
16 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 172,958173.0k $3.7m $3.7m 0.01% Added +73.6k +73,566
17 Quinn Opportunity Partners LLC 0.30% of their portfolio CHARLOTTESVILLE, VA 165,000165.0k $3.5m $3.5m 0.30% Unchanged
18 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 156,635156.6k $3.4m $3.4m 0.02% Added +22.2k +22,208
19 BLUEFIN CAPITAL MANAGEMENT, LLC 2.00% of their portfolio NEW YORK, NY 120,500120.5k $2.6m $2.6m 2.00% Reduced -94.5k -94,500
20 SUMMIT SECURITIES GROUP LLC 0.83% of their portfolio NEW YORK, NY 107,300107.3k $2.3m $2.3m 0.83% Added +45.9k +45,900
21 SIH Partners, LLLP 0.19% of their portfolio Wilmington, DE 91,58291.6k $2.0m $2.0m 0.19% New
22 VISION FINANCIAL MARKETS LLC 1.81% of their portfolio STAMFORD, CT 89,13989.1k $1.9m $1.9m 1.81% Added +32.0k +32,022
23 WOLVERINE TRADING, LLC 0.05% of their portfolio CHICAGO, IL 84,25584.3k $1.8m $1.8m 0.05% Reduced -71.5k -71,472
24 Ausdal Financial Partners, Inc. 0.12% of their portfolio Davenport, IA 82,74882.7k $1.8m $1.8m 0.12% New
25 SIG North Trading, ULC 0.35% of their portfolio Bala Cynwyd, PA 74,68774.7k $1.6m $1.6m 0.35% Reduced -129.6k -129,583
26 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 62,19762.2k $1.3m $1.3m 0.00% Added +2.1k +2,132
27 UBS Group AG 0.00% of their portfolio ZURICH, V8 60,00460.0k $1.3m $1.3m 0.00% Added +59.4k +59,400
28 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 58,67958.7k $1.3m $1.3m 0.00% Reduced -16.5k -16,537
29 NATIXIS 0.01% of their portfolio PARIS, I0 56,18556.2k $1.2m $1.2m 0.01% Reduced -50.0k -50,000
30 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 51,20051.2k $1.1m $1.1m 0.00% Reduced -30 -30
31 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 49,08549.1k $1.1m $1.1m 0.00% Added +3.4k +3,363
32 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 48,87448.9k $1.1m $1.1m 0.00% Added +37.3k +37,337
33 B. Riley Wealth Advisors, Inc. 0.05% of their portfolio MEMPHIS, TN 46,06046.1k $990.8k $990.8k 0.05% Added +3.9k +3,896
34 Atlantic Union Bankshares Corp 0.02% of their portfolio GLEN ALLEN, VA 45,26445.3k $973.6k $973.6k 0.02% Added +73 +73
35 Mariner, LLC 0.00% of their portfolio Overland Park, KS 44,79444.8k $963.5k $963.5k 0.00% Added +3.2k +3,175
36 PFG Investments, LLC 0.05% of their portfolio WOODBURY, NY 43,38043.4k $933.1k $933.1k 0.05% Added +314 +314
37 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 39,58439.6k $851.5k $851.5k 0.01% Reduced -3.7k -3,733
38 Arkadios Wealth Advisors 0.02% of their portfolio ATLANTA, GA 38,00838.0k $817.6k $817.6k 0.02% Reduced -505 -505
39 Triumph Capital Management 0.23% of their portfolio DENVER, CO 35,82735.8k $770.6k $770.6k 0.23% Added +604 +604
40 WEDBUSH SECURITIES INC 0.03% of their portfolio PASADENA, CA 35,26035.3k $758.0k $758.0k 0.03% Added +6.8k +6,786
41 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 34,02534.0k $731.9k $731.9k 0.00% Added +6.0k +6,025
42 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 33,18233.2k $743.3k $743.3k 0.01% Added +26.4k +26,382
43 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 33,17033.2k $713.5k $713.5k 0.00% Added +4.3k +4,338
44 Wealthcare Advisory Partners LLC 0.02% of their portfolio WEST CHESTER, PA 32,43032.4k $697.6k $697.6k 0.02% Reduced -16.6k -16,592
45 CX Institutional 0.02% of their portfolio AUBURN, IN 31,93431.9k $687.0k $687.0k 0.02% Added +3.5k +3,512
46 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 28,59128.6k $615.0k $615.0k 0.00% Reduced -644 -644
47 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 25,61225.6k $550.9k $550.9k 0.00% Added +3.6k +3,599
48 Cannon Advisors, Inc. 0.44% of their portfolio CHARLOTTE, NC 25,32225.3k $544.7k $544.7k 0.44% Added +1.9k +1,922
49 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 24,63124.6k $529.8k $529.8k 0.01% Reduced -11.6k -11,643
50 Prosperity Wealth Management, Inc. 0.20% of their portfolio San Ramon, CA 24,48724.5k $526.7k $526.7k 0.20% Reduced -8.2k -8,176
51 Walleye Trading LLC 0.01% of their portfolio NEW YORK, NY 23,31223.3k $501.4k $501.4k 0.01% Reduced -50.3k -50,277
52 Paragon Private Wealth Management, LLC 0.19% of their portfolio LEXINGTON, KY 21,62321.6k $465.1k $465.1k 0.19% Added +10.4k +10,376
53 Marathon Trading Investment Management LLC 0.27% of their portfolio RADNOR, PA 20,70220.7k $445.3k $445.3k 0.27% Reduced -3.7k -3,700
54 Independent Wealth Network Inc. 0.16% of their portfolio URBANDALE, IA 20,53420.5k $441.7k $441.7k 0.16% Added +8.5k +8,458
55 Evolution Wealth Advisors, LLC 0.06% of their portfolio AVENTURA, FL 19,80019.8k $425.9k $425.9k 0.06% Added +818 +818
56 MEANS INVESTMENT CO., INC. 0.04% of their portfolio BANGOR, ME 19,72619.7k $424.3k $424.3k 0.04% Added +2.6k +2,557
57 Avidian Wealth Enterprises, LLC 0.02% of their portfolio Houston, TX 19,43319.4k $418.0k $418.0k 0.02% New
58 Wealth Management Nebraska 0.06% of their portfolio Norfolk, NE 19,33519.3k $413.2k $413.2k 0.06% Added +2.7k +2,708
59 J.W. COLE ADVISORS, INC. 0.01% of their portfolio TAMPA, FL 18,15518.2k $390.5k $390.5k 0.01% Added +1.6k +1,562
60 ORG Partners LLC 0.08% of their portfolio ROANOKE, IN 17,88617.9k $362.6k $362.6k 0.08% Added +16.1k +16,106
61 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 17,84517.8k $383.8k $383.8k 0.00% Added +75 +75
62 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 16,66216.7k $351.1k $351.1k 0.00% Reduced -11.0k -11,017
63 Financial Engines Advisors L.L.C. 0.00% of their portfolio SANTA CLARA, CA 16,35516.4k $352.0k $352.0k 0.00% Added +1.4k +1,374
64 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 16,29816.3k $350.6k $350.6k 0.00% Added +635 +635
65 INTEGRITY WEALTH ADVISORS, INC. 0.24% of their portfolio Ventura, CA 16,13016.1k $347.0k $347.0k 0.24% Added +4.1k +4,130
66 Concurrent Investment Advisors, LLC 0.01% of their portfolio Tampa, FL 15,77915.8k $339.4k $339.4k 0.01% Added +1.6k +1,576
67 Stegent Equity Advisors, Inc. 0.30% of their portfolio HOUSTON, TX 15,68815.7k $337.4k $337.4k 0.30% Reduced -21.4k -21,409
68 JEPPSON WEALTH MANAGEMENT, LLC 0.12% of their portfolio MANHATTAN BEACH, CA 15,66515.7k $336.9k $336.9k 0.12% Added +402 +402
69 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 15,65615.7k $234.1k $234.1k 0.00% Reduced -6.4k -6,384
70 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 15,62915.6k $336.2k $336.2k 0.00% Added +1.7k +1,716
71 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 15,00015.0k $323.0k $323.0k 0.00% Unchanged
72 Interchange Capital Partners, LLC 0.07% of their portfolio PITTSBURGH, PA 14,65814.7k $315.3k $315.3k 0.07% Added +455 +455
73 Brookstone Capital Management 0.00% of their portfolio WHEATON, IL 14,62414.6k $314.6k $314.6k 0.00% Reduced -129 -129
74 Davies Financial Advisors, Inc. 0.24% of their portfolio MURRIETA, CA 14,61514.6k $314.4k $314.4k 0.24% Added +1.3k +1,306
75 Consolidated Portfolio Review Corp 0.04% of their portfolio WOODBURY, NY 14,17914.2k $305.0k $305.0k 0.04% Added +2.2k +2,220
76 IHT Wealth Management, LLC 0.01% of their portfolio Chicago, IL 13,97414.0k $300.6k $300.6k 0.01% Reduced -26.0k -26,001
77 McIlrath & Eck, LLC 0.03% of their portfolio ARLINGTON, WA 13,95414.0k $300.2k $300.2k 0.03% Added +3.0k +3,002
78 Belvedere Trading LLC 0.02% of their portfolio CHICAGO, IL 13,59413.6k $292.4k $292.4k 0.02% New
79 United Capital Management of KS, Inc. 0.05% of their portfolio SALINA, KS 13,56913.6k $291.9k $291.9k 0.05% Reduced -1.9k -1,850
80 Proficio Capital Partners LLC 0.02% of their portfolio NEWTON, MA 12,72012.7k $273.6k $273.6k 0.02% Reduced -214.9k -214,855
81 Prairie Wealth Advisors, Inc. 0.12% of their portfolio OMAHA, NE 12,69412.7k $273.0k $273.0k 0.12% New
82 TCFG WEALTH MANAGEMENT, LLC 0.12% of their portfolio LAGUNA NIGUEL, CA 12,65812.7k $272.3k $272.3k 0.12% Reduced -25.7k -25,712
83 HOEY INVESTMENTS, INC 0.04% of their portfolio COATESVILLE, PA 12,62412.6k $271.5k $271.5k 0.04% Reduced -3.5k -3,500
84 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 12,21212.2k $262.7k $262.7k 0.00% Reduced -4.0k -4,003
85 FOUNDERS FINANCIAL SECURITIES LLC 0.02% of their portfolio TOWSON, MD 11,61911.6k $249.9k $249.9k 0.02% Added +914 +914
86 MGB Wealth Management, LLC 0.08% of their portfolio ADDISON, TX 11,00011.0k $236.6k $236.6k 0.08% New
87 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 10,85110.9k $233.4k $233.4k 0.01% New
88 Edgestream Partners, L.P. 0.01% of their portfolio Princeton, NJ 10,81410.8k $232.6k $232.6k 0.01% New
89 Geneos Wealth Management Inc. 0.01% of their portfolio ENGLEWOOD, CO 10,35410.4k $222.7k $222.7k 0.01% Reduced -3.3k -3,338
90 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 10,11210.1k $217.5k $217.5k 0.00% Added +832 +832
91 Coastal Bridge Advisors, LLC 0.02% of their portfolio WESTPORT, CT 9,96110.0k $214.3k $214.3k 0.02% New
92 Jaffetilchin Investment Partners, LLC 0.01% of their portfolio TAMPA, FL 9,9319.9k $213.6k $213.6k 0.01% New
93 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 9,9319.9k $213.6k $213.6k 0.00% New
94 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 9,8009.8k $210.8k $210.8k 0.00% New
95 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 9,7999.8k $210.8k $210.8k 0.00% New
96 SILVER OAK SECURITIES, INCORPORATED 0.02% of their portfolio JACKSON, TN 9,7869.8k $210.5k $210.5k 0.02% New
97 Avestar Capital, LLC 0.01% of their portfolio New York, NY 9,5009.5k $204.3k $204.3k 0.01% New
98 VILLERE ST DENIS J & CO LLC 0.02% of their portfolio New Orleans, LA 9,4689.5k $203.7k $203.7k 0.02% New
99 DAYMARK WEALTH PARTNERS, LLC 0.01% of their portfolio CINCINNATI, OH 9,3629.4k $201.4k $201.4k 0.01% New
100 Kaizen Financial Strategies 0.10% of their portfolio CAMPBELL, CA 9,3109.3k $200.3k $200.3k 0.10% New