Vault-13

PROSHARES TR BITO

BITCOIN STRATE · ETP · CUSIP 74347G440 · ISIN US74347G4405

210 institutional holders +17 vs Q4 2025
16,754,23416.8m shares reported held*
$156.6mreported value*
47 new 70 added 48 reduced 29 sold out net sold ≈ $42.8m (-4.6m 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 ($101.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.35. Options: 5 managers hold calls ($20.5m notional), 4 hold puts ($17.7m).

Trends to Q1 2026

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: 193Q3 25: 204Q4 25: 193Q1 26: 210210Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025204
Q4 2025193
Q1 2026210

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 88 bought or addedQ2 24: 98 cut or sold outQ3 24: 91 bought or addedQ3 24: 81 cut or sold outQ3 24Q4 24: 108 bought or addedQ4 24: 80 cut or sold outQ1 25: 101 bought or addedQ1 25: 91 cut or sold outQ1 25Q2 25: 116 bought or addedQ2 25: 67 cut or sold outQ3 25: 123 bought or addedQ3 25: 70 cut or sold outQ3 25Q4 25: 100 bought or addedQ4 25: 85 cut or sold outQ1 26: 117 bought or addedQ1 26: 77 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20248898
Q3 20249181
Q4 202410880
Q1 202510191
Q2 202511667
Q3 202512370
Q4 202510085
Q1 202611777

Calls vs puts

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

CallsPuts
$0$50m$100m$150m$200mQ2 25 calls: $80.1mQ2 25 puts: $177.8mQ2 25P/C 2.22Q3 25 calls: $54.0mQ3 25 puts: $148.0mQ3 25P/C 2.74Q4 25 calls: $38.0mQ4 25 puts: $60.5mQ4 25P/C 1.59Q1 26 calls: $20.5mQ1 26 puts: $17.7mQ1 26P/C 0.86
Numbers
QuarterCallsPutsP/C
Q2 2025$80.1m$177.8m2.22
Q3 2025$54.0m$148.0m2.74
Q4 2025$38.0m$60.5m1.59
Q1 2026$20.5m$17.7m0.86

Biggest buyers

Acorns Advisers, LLC Added +1,521,496+1.5m
HRT FINANCIAL LP New +507,823+507.8k
TWO SIGMA SECURITIES, LLC New +188,748+188.7k
SIMPLEX TRADING, LLC New +116,295+116.3k
Walleye Trading LLC Added +90,600+90.6k
MFA WEALTH ADVISORS, LLC Added +79,604+79.6k
StoneX Group Inc. Added +73,488+73.5k
LFG Wealth Partners, LLC New +71,693+71.7k
OLD MISSION CAPITAL LLC New +58,914+58.9k
GROUP ONE TRADING LLC Added +57,065+57.1k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -5,400,000-5.4m
CITADEL ADVISORS LLC Reduced -942,622-942.6k
Tidal Investments LLC Reduced -456,989-457.0k
HighTower Advisors, LLC Reduced -306,665-306.7k
RENAISSANCE TECHNOLOGIES LLC Sold out -293,500-293.5k
JANE STREET GROUP, LLC Sold out -158,403-158.4k
PFG Investments, LLC Reduced -116,428-116.4k
DRW Securities, LLC Sold out -76,827-76.8k
CX Institutional Reduced -66,340-66.3k
BANK OF AMERICA CORP /DE/ Sold out -52,200-52.2k

Biggest calls

CITADEL ADVISORS LLC Reduced $9.1m981.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $7.4m796.3k shares
JANE STREET GROUP, LLC Added $3.6m387.1k shares
Walleye Trading LLC Reduced $323.1k34.7k shares
OLD MISSION CAPITAL LLC Added $14.0k111.8k shares

Biggest puts

JANE STREET GROUP, LLC Added $6.7m724.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $5.9m634.3k shares
CITADEL ADVISORS LLC Reduced $3.2m339.4k shares
Walleye Trading LLC Added $1.9m199.5k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Acorns Advisers, LLC 0.54% of their portfolio IRVINE, CA 7,796,0957.8m $72.6m $72.6m 0.54% Added +1.5m +1,521,496
2 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,361,8371.4m $12.7m $12.7m 0.00% Reduced -5.4m -5,400,000
3 Tidal Investments LLC 0.03% of their portfolio Milwaukee, WI 1,180,0001.2m $11.0m $11.0m 0.03% Reduced -457.0k -456,989
4 Fielder Capital Group LLC 1.27% of their portfolio NASHVILLE, TN 624,613624.6k $5.8m $5.8m 1.27% Added +1.6k +1,577
5 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 507,823507.8k $4.7m $4.7m 0.02% New
6 GROUP ONE TRADING LLC 0.14% of their portfolio CHICAGO, IL 460,289460.3k $4.3m $4.3m 0.14% Added +57.1k +57,065
7 Realta Investment Advisors 1.02% of their portfolio WILMINGTON, DE 315,051315.1k $2.9m $2.9m 1.02% Added +25.5k +25,535
8 MFA WEALTH ADVISORS, LLC 0.58% of their portfolio PITTSBURGH, PA 314,761314.8k $2.9m $2.9m 0.58% Added +79.6k +79,604
9 Legacy Wealth Managment, LLC/ID 1.21% of their portfolio BOISE, ID 261,051261.1k $2.4m $2.4m 1.21% Added +11.6k +11,627
10 Faithward Advisors, LLC 0.34% of their portfolio LANCASTER, PA 256,723256.7k $2.4m $2.4m 0.34% Added +19.6k +19,605
11 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 203,493203.5k $1.9m $1.9m 0.00% Reduced -7.9k -7,932
12 TWO SIGMA SECURITIES, LLC 0.20% of their portfolio NEW YORK, NY 188,748188.7k $1.8m $1.8m 0.20% New
13 Walleye Trading LLC 0.03% of their portfolio NEW YORK, NY 141,723141.7k $1.3m $1.3m 0.03% Added +90.6k +90,600
14 SIMPLEX TRADING, LLC 0.03% of their portfolio CHICAGO, IL 116,295116.3k $1.1m $1.1m 0.03% New
15 Ausdal Financial Partners, Inc. 0.05% of their portfolio Davenport, IA 108,451108.5k $1.0m $1.0m 0.05% Added +2.9k +2,861
16 PFG Investments, LLC 0.05% of their portfolio WOODBURY, NY 106,793106.8k $994.2k $994.2k 0.05% Reduced -116.4k -116,428
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 104,519104.5k $973.1k $973.1k 0.00% Added +29.4k +29,429
18 StoneX Group Inc. 0.05% of their portfolio NEW YORK, NY 95,12695.1k $885.6k $885.6k 0.05% Added +73.5k +73,488
19 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 89,46189.5k $832.9k $832.9k 0.00% Reduced -306.7k -306,665
20 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 89,30489.3k $831.4k $831.4k 0.00% Reduced -942.6k -942,622
21 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 87,19587.2k $811.8k $811.8k 0.01% Added +44.8k +44,815
22 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 77,33177.3k $720.0k $720.0k 0.00% Reduced -12.8k -12,850
23 LFG Wealth Partners, LLC 0.40% of their portfolio ELIZABETHTOWN, KY 71,69371.7k $667.5k $667.5k 0.40% New
24 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 71,30871.3k $663.9k $663.9k 0.00% Reduced -15.9k -15,921
25 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 69,62269.6k $648.2k $648.2k 0.00% Added +4.9k +4,883
26 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 64,75764.8k $602.9k $602.9k 0.01% Reduced -3.1k -3,109
27 Mariner, LLC 0.00% of their portfolio Overland Park, KS 62,33262.3k $580.3k $580.3k 0.00% Reduced -6.5k -6,534
28 WEDBUSH SECURITIES INC 0.02% of their portfolio PASADENA, CA 60,61460.6k $564.0k $564.0k 0.02% Reduced -11.7k -11,681
29 OLD MISSION CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 58,91458.9k $548.5k $548.5k 0.01% New
30 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 56,17056.2k $522.9k $522.9k 0.00% Reduced -3.5k -3,511
31 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 50,55650.6k $470.7k $470.7k 0.01% New
32 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 49,92349.9k $464.8k $464.8k 0.01% Added +28.5k +28,484
33 Independent Wealth Network Inc. 0.14% of their portfolio URBANDALE, IA 49,86949.9k $464.3k $464.3k 0.14% Added +11.1k +11,131
34 RK Capital Management, LLC/FL 1.04% of their portfolio Weston, FL 48,58248.6k $452.3k $452.3k 1.04% New
35 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 46,84846.8k $436.2k $436.2k 0.00% Added +10.4k +10,399
36 B. Riley Wealth Advisors, Inc. 0.03% of their portfolio MEMPHIS, TN 45,53645.5k $416.7k $416.7k 0.03% New
37 UBS Group AG 0.00% of their portfolio ZURICH, V8 45,00245.0k $419.0k $419.0k 0.00% Added +1.7k +1,655
38 Baker Avenue Asset Management, LP 0.01% of their portfolio SAN FRANCISCO, CA 45,00045.0k $418.9k $418.9k 0.01% New
39 McIlrath & Eck, LLC 0.03% of their portfolio ARLINGTON, WA 43,15943.2k $401.8k $401.8k 0.03% Added +27.4k +27,405
40 Forum Financial Management, LP 0.01% of their portfolio LOMBARD, IL 40,49740.5k $377.0k $377.0k 0.01% New
41 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 38,80538.8k $361.3k $361.3k 0.00% Reduced -5.8k -5,820
42 TWIN FOCUS CAPITAL PARTNERS, LLC 0.04% of their portfolio Boston, MA 38,00038.0k $353.8k $353.8k 0.04% New
43 LaSalle St. Investment Advisors, LLC 0.04% of their portfolio ELMHURST, IL 32,42732.4k $301.9k $301.9k 0.04% New
44 MEANS INVESTMENT CO., INC. 0.03% of their portfolio BANGOR, ME 31,63231.6k $294.5k $294.5k 0.03% Reduced -5.1k -5,052
45 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 30,04430.0k $279.7k $279.7k 0.00% New
46 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 29,65529.7k $276.1k $276.1k 0.00% Added +16.4k +16,437
47 Wealth Management Nebraska 0.03% of their portfolio Norfolk, NE 29,33129.3k $273.1k $273.1k 0.03% Reduced -14.0k -13,961
48 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 25,14925.1k $234.1k $234.1k 0.00% Added +2.2k +2,201
49 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 24,31024.3k $226.3k $226.3k 0.00% Added +61 +61
50 Brookstone Capital Management 0.00% of their portfolio WHEATON, IL 24,02424.0k $223.7k $223.7k 0.00% Added +5.3k +5,329
51 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 23,93723.9k $222.9k $222.9k 0.00% New
52 Cannon Advisors, Inc. 0.16% of their portfolio CHARLOTTE, NC 23,08223.1k $214.9k $214.9k 0.16% Reduced -12.4k -12,394
53 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 22,52222.5k $209.7k $209.7k 0.00% Added +11.5k +11,533
54 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 22,40922.4k $208.6k $208.6k 0.00% Added +22 +22
55 CPA Asset Management Group, LLC 0.07% of their portfolio WEST PALM BEACH, FL 21,74621.7k $202.5k $202.5k 0.07% Added +33 +33
56 Marathon Trading Investment Management LLC 0.06% of their portfolio RADNOR, PA 21,50221.5k $200.2k $200.2k 0.06% Added +200 +200
57 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 20,99121.0k $195.4k $195.4k 0.00% Added +2.0k +2,044
58 CWM, LLC 0.00% of their portfolio OMAHA, NE 20,63420.6k $192.1k $192.1k 0.00% Added +13.6k +13,583
59 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 20,50920.5k $190.9k $190.9k 0.00% Added +19.7k +19,665
60 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 20,18820.2k $189.0k $189.0k 0.00% Added +18.9k +18,851
61 Kings Path Partners LLC 0.06% of their portfolio SUGAR LAND, TX 20,00020.0k $186.2k $186.2k 0.06% Unchanged
62 FOUNDERS FINANCIAL SECURITIES LLC 0.01% of their portfolio TOWSON, MD 19,52319.5k $193.3k $193.3k 0.01% Added +1.3k +1,348
63 Crumly & Associates Inc. 0.04% of their portfolio SPRINGFIELD, IL 19,45419.5k $181.1k $181.1k 0.04% Unchanged
64 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 19,26419.3k $179.4k $179.4k 0.00% Added +8.5k +8,526
65 Paragon Private Wealth Management, LLC 0.06% of their portfolio LEXINGTON, KY 19,26419.3k $179.3k $179.3k 0.06% Added +2.4k +2,388
66 SJS Investment Consulting Inc. 0.02% of their portfolio SYLVANIA, OH 18,48018.5k $172.0k $172.0k 0.02% New
67 Migdal Insurance & Financial Holdings Ltd. 0.00% of their portfolio Petach Tikva, L3 18,36518.4k $171.0k $171.0k 0.00% Added +7.1k +7,092
68 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 18,27918.3k $170.2k $170.2k 0.00% Reduced -223 -223
69 SUMMIT SECURITIES GROUP LLC 0.08% of their portfolio NEW YORK, NY 17,40017.4k $162.0k $162.0k 0.08% Reduced -30.8k -30,800
70 Sovereign Financial Group, Inc. 0.03% of their portfolio STAMFORD, CT 17,17017.2k $159.9k $159.9k 0.03% New
71 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,86116.9k $157.0k $157.0k 0.00% Added +1.5k +1,479
72 Meridian Wealth Management, LLC 0.01% of their portfolio LEXINGTON, KY 16,63616.6k $154.9k $154.9k 0.01% New
73 CCG WEALTH MANAGEMENT, LLC 0.04% of their portfolio SAN DIEGO, CA 16,48416.5k $153.5k $153.5k 0.04% New
74 United Capital Management of KS, Inc. 0.02% of their portfolio SALINA, KS 16,31016.3k $151.8k $151.8k 0.02% Reduced -11.1k -11,056
75 DAYMARK WEALTH PARTNERS, LLC 0.00% of their portfolio CINCINNATI, OH 15,52515.5k $144.5k $144.5k 0.00% Added +6 +6
76 Somerset Trust Co 0.04% of their portfolio SOMERSET, PA 15,50015.5k $144.3k $144.3k 0.04% Unchanged
77 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 15,39715.4k $143.4k $143.4k 0.00% Added +5.3k +5,284
78 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 15,00015.0k $140.0k $140.0k 0.00% Unchanged
79 Cyndeo Wealth Partners, LLC 0.01% of their portfolio ST. PETERSBURG, FL 14,62614.6k $136.2k $136.2k 0.01% New
80 Interchange Capital Partners, LLC 0.08% of their portfolio PITTSBURGH, PA 14,20314.2k $260.2k $260.2k 0.08% New
81 IHT Wealth Management, LLC 0.00% of their portfolio Chicago, IL 13,56613.6k $126.3k $126.3k 0.00% Added +577 +577
82 BRIGHTON JONES LLC 0.00% of their portfolio SEATTLE, WA 12,82912.8k $119.4k $119.4k 0.00% New
83 Headlands Technologies LLC 0.01% of their portfolio CHICAGO, IL 12,82412.8k $119.4k $119.4k 0.01% New
84 VILLERE ST DENIS J & CO LLC 0.01% of their portfolio New Orleans, LA 12,67112.7k $118.0k $118.0k 0.01% Added +28 +28
85 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 12,66312.7k $117.9k $117.9k 0.00% Added +112 +112
86 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 12,64912.6k $117.8k $117.8k 0.00% New
87 Proficio Capital Partners LLC 0.01% of their portfolio NEWTON, MA 12,53012.5k $116.7k $116.7k 0.01% Reduced -4.7k -4,700
88 Advyzon Investment Management, LLC 0.01% of their portfolio LISLE, IL 12,00712.0k $111.8k $111.8k 0.01% Reduced -2.3k -2,316
89 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 11,96712.0k $111.4k $111.4k 0.00% Reduced -876 -876
90 Apella Capital, LLC 0.00% of their portfolio WEST HARTFORD, CT 11,73311.7k $124.7k $124.7k 0.00% New
91 Clare Market Investments LLC 0.02% of their portfolio DALLAS, TX 11,65011.7k $108.5k $108.5k 0.02% First filing
92 J HAGAN CAPITAL, INC. 0.06% of their portfolio LOUISVILLE, KY 11,60611.6k $108.0k $108.0k 0.06% New
93 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 11,54511.5k $107.5k $107.5k 0.00% Reduced -148 -148
94 Vestmark Advisory Solutions, Inc. 0.00% of their portfolio Wakefield, MA 11,54411.5k $107.5k $107.5k 0.00% New
95 Apollon Wealth Management, LLC 0.00% of their portfolio MOUNT PLEASANT, SC 11,49911.5k $107.1k $107.1k 0.00% New
96 Grant Private Wealth Management Inc 0.06% of their portfolio PLEASANTON, CA 11,32211.3k $105.4k $105.4k 0.06% Unchanged
97 STEVENS CAPITAL MANAGEMENT LP 0.02% of their portfolio RADNOR, PA 10,50110.5k $98.0k $98.0k 0.02% New
98 SILVER OAK SECURITIES, INCORPORATED 0.01% of their portfolio JACKSON, TN 10,49210.5k $97.7k $97.7k 0.01% Reduced -2.2k -2,165
99 Kingsview Wealth Management, LLC 0.00% of their portfolio GRANTS PASS, OR 10,41710.4k $97.0k $97.0k 0.00% New
100 J.W. COLE ADVISORS, INC. 0.00% of their portfolio TAMPA, FL 10,34610.3k $96.3k $96.3k 0.00% Added +11 +11