VOLATILITY SHS TR BITX
2X BITCOIN STRAT · ETP · CUSIP 92864M301
33
institutional holders
+17 vs Q4 2023
2.9m
shares reported held*
$153.6mreported value*
20 new
8 added
3 reduced
3 sold out
net bought ≈ $124.2m (+2.3m 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. Holder counts are more reliable. Implied quarter-end price ≈ $53.18. Options: 10 managers hold calls ($64.2m notional), 11 hold puts ($78.7m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2023 | 3 |
| Q3 2023 | 6 |
| Q4 2023 | 16 |
| Q1 2024 | 33 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 4 | 2 |
| Q4 2023 | 12 | 3 |
| Q1 2024 | 28 | 6 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $0 | $0 | — |
| Q3 2023 | $1.9m | $283.0k | 0.15 |
| Q4 2023 | $11.9m | $5.9m | 0.50 |
| Q1 2024 | $64.2m | $78.7m | 1.23 |
Biggest buyers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +650.8k |
| Franchise Capital Ltd | New | +343.1k |
| JANE STREET GROUP, LLC | Added | +316.4k |
| Strategic Vision Investment Ltd | New | +288.0k |
| Jump Financial, LLC | New | +238.5k |
| Accuvest Global Advisors | New | +158.5k |
| KINGSWOOD WEALTH ADVISORS, LLC | Added | +114.5k |
| Belvedere Trading LLC | Added | +66.2k |
| Almanack Investment Partners, LLC. | New | +33.0k |
| APEIRON CAPITAL Ltd | New | +31.4k |
Biggest sellers
| WOLVERINE TRADING, LLC | Reduced | -38.4k |
| CITADEL ADVISORS LLC | Reduced | -18.7k |
| Tower Research Capital LLC (TRC) | Sold out | -3.1k |
| FLOW TRADERS U.S. LLC | Reduced | -1.5k |
| Qube Research & Technologies Ltd | Sold out | -695 |
| UBS Group AG | Sold out | -92 |
Biggest calls
| CITADEL ADVISORS LLC | Added | $16.0m299.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $13.6m256.3k shares |
| JANE STREET GROUP, LLC | New | $13.2m248.2k shares |
| SIMPLEX TRADING, LLC | Added | $8.8m164.9k shares |
| WOLVERINE TRADING, LLC | Added | $5.3m99.1k shares |
| Belvedere Trading LLC | Reduced | $3.1m59.1k shares |
| IMC-Chicago, LLC | New | $3.0m55.5k shares |
| Cutler Group LLC / CA | Reduced | $740.0k22.0k shares |
| GTS SECURITIES LLC | New | $442.0k8.3k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $49.0m920.5k shares |
| CITADEL ADVISORS LLC | Added | $8.7m162.6k shares |
| JANE STREET GROUP, LLC | New | $5.8m109.1k shares |
| IMC-Chicago, LLC | New | $5.3m100.1k shares |
| SIMPLEX TRADING, LLC | Added | $3.1m57.8k shares |
| WOLVERINE TRADING, LLC | Added | $2.6m48.4k shares |
| Belvedere Trading LLC | Added | $2.3m43.4k shares |
| Boussard & Gavaudan Investment Management LLP | Added | $1.4m12.7k shares |
| GTS SECURITIES LLC | New | $473.9k8.9k shares |
| Cutler Group LLC / CA | Reduced | $37.0k7.6k 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 2024
| Manager | Shares | Change |
|---|---|---|
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio | 660.9k $35.2m | Added +650.8k |
| JANE STREET GROUP, LLC 0.04% of their portfolio | 649.4k $34.6m | Added +316.4k |
| Franchise Capital Ltd 3.40% of their portfolio | 343.1k $18.3m | New |
| Strategic Vision Investment Ltd 11.07% of their portfolio | 288.0k $15.3m | New |
| Jump Financial, LLC 0.35% of their portfolio | 238.5k $12.7m | New |
| Accuvest Global Advisors 3.69% of their portfolio | 158.5k $8.4m | New |
| KINGSWOOD WEALTH ADVISORS, LLC 0.83% of their portfolio | 135.2k $7.2m | Added +114.5k |
| Belvedere Trading LLC 0.42% of their portfolio | 110.7k $5.9m | Added +66.2k |
| Almanack Investment Partners, LLC. 0.30% of their portfolio | 33.0k $1.8m | New |
| APEIRON CAPITAL Ltd 0.85% of their portfolio | 31.4k $1.7m | New |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 30.4k $1.6m | New |
| Graypoint LLC 0.10% of their portfolio | 25.1k $1.3m | Unchanged |
| SIMPLEX TRADING, LLC 0.04% of their portfolio | 23.4k $1.2m | Added +20.6k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 19.5k $1.0m | Reduced -18.7k |
| IMC-Chicago, LLC 0.03% of their portfolio | 17.5k $930.0k | Added +5.9k |
| Client First Investment Management LLC 0.70% of their portfolio | 16.4k $875.8k | New |
| Sassicaia Capital Advisers LLC 3.61% of their portfolio | 16.0k $852.0k | New |
| Cutler Group LLC / CA 0.41% of their portfolio | 15.1k $803.0k | Added +9.6k |
| FLOW TRADERS U.S. LLC 0.03% of their portfolio | 11.2k $596.0k | Reduced -1.5k |
| X-Square Capital, LLC 0.18% of their portfolio | 10.7k $370.0k | New |
| HighTower Advisors, LLC 0.00% of their portfolio | 10.6k $563.0k | New |
| Virtu Financial LLC 0.03% of their portfolio | 8.4k $448.0k | New |
| Selway Asset Management 0.16% of their portfolio | 7.5k $399.4k | New |
| HRT FINANCIAL LP 0.00% of their portfolio | 5.7k $301.0k | New |
| TWO SIGMA SECURITIES, LLC 0.01% of their portfolio | 5.2k $277.9k | New |
| WOLVERINE TRADING, LLC 0.00% of their portfolio | 5.1k $273.4k | Reduced -38.4k |
| GTS SECURITIES LLC 0.01% of their portfolio | 5.0k $267.6k | New |
| Cerity Partners LLC 0.00% of their portfolio | 4.8k $257.6k | New |
| VitalStone Financial, LLC 0.06% of their portfolio | 1.6k $84.0k | Added +925 |
| Headlands Technologies LLC 0.01% of their portfolio | 1.0k $54.6k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 280 $14.9k | New |
| TFC Financial Management, Inc. 0.00% of their portfolio | 4 $213 | New |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |