Vault-13

VOLATILITY SHS TR BITX

2X BITCOIN STRAT · ETP · CUSIP 92864M301

29 institutional holders -6 vs Q1 2026
1,253,0721.3m shares reported held*
$12.9mreported value*
9 new 7 added 6 reduced 16 sold out net sold ≈ $1.4m (-139.6k 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 ≈ $10.32. Options: 7 managers hold calls ($35.7m notional), 8 hold puts ($39.8m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 23: 3Q3 23: 6Q4 23: 16Q1 24: 33Q2 24: 32Q3 24: 36Q4 24: 49Q1 25: 47Q2 25: 52Q3 25: 45Q4 25: 59Q1 26: 35Q2 26: 2929Q2 23Q1 24Q4 24Q3 25Q2 26
Numbers
QuarterHolders
Q2 20233
Q3 20236
Q4 202316
Q1 202433
Q2 202432
Q3 202436
Q4 202449
Q1 202547
Q2 202552
Q3 202545
Q4 202559
Q1 202635
Q2 202629

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 24: 22 bought or addedQ3 24: 15 cut or sold outQ4 24: 37 bought or addedQ4 24: 21 cut or sold outQ4 24Q1 25: 34 bought or addedQ1 25: 29 cut or sold outQ2 25: 37 bought or addedQ2 25: 22 cut or sold outQ2 25Q3 25: 26 bought or addedQ3 25: 33 cut or sold outQ4 25: 40 bought or addedQ4 25: 24 cut or sold outQ4 25Q1 26: 25 bought or addedQ1 26: 38 cut or sold outQ2 26: 16 bought or addedQ2 26: 22 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242215
Q4 20243721
Q1 20253429
Q2 20253722
Q3 20252633
Q4 20254024
Q1 20262538
Q2 20261622

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ3 25 calls: $355.4mQ3 25 puts: $367.2mQ3 25P/C 1.03Q4 25 calls: $135.5mQ4 25 puts: $130.2mQ4 25P/C 0.96Q1 26 calls: $77.8mQ1 26 puts: $78.7mQ1 26P/C 1.01Q2 26 calls: $35.7mQ2 26 puts: $39.8mQ2 26P/C 1.12
Numbers
QuarterCallsPutsP/C
Q3 2025$355.4m$367.2m1.03
Q4 2025$135.5m$130.2m0.96
Q1 2026$77.8m$78.7m1.01
Q2 2026$35.7m$39.8m1.12

Biggest buyers

RENAISSANCE TECHNOLOGIES LLC New +518,000+518.0k
CITADEL ADVISORS LLC New +44,119+44.1k
IMC-Chicago, LLC New +37,924+37.9k
Larson Financial Group LLC Added +31,214+31.2k
Financial Sense Advisors, Inc. New +30,000+30.0k
KINGSWOOD WEALTH ADVISORS, LLC Added +14,001+14.0k
TWO SIGMA SECURITIES, LLC New +12,311+12.3k
Optiver Holding B.V. New +5,500+5.5k
Secure Asset Management, LLC Added +2,968+3.0k
Integrated Wealth Concepts LLC New +1,550+1.6k

Biggest sellers

SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -354,195-354.2k
SIMPLEX TRADING, LLC Reduced -157,315-157.3k
Virtu Financial LLC Sold out -97,438-97.4k
GROUP ONE TRADING LLC Reduced -55,484-55.5k
X-Square Capital, LLC Reduced -24,222-24.2k
Cane Capital Partners, LLC Sold out -20,404-20.4k
Mariner, LLC Sold out -19,380-19.4k
Almanack Investment Partners, LLC. Reduced -18,963-19.0k
Headlands Technologies LLC Sold out -13,747-13.7k
CreativeOne Wealth, LLC Sold out -13,440-13.4k

Biggest calls

CITADEL ADVISORS LLC Reduced $11.4m1.1m shares
GROUP ONE TRADING LLC Reduced $7.8m760.4k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.6m733.3k shares
IMC-Chicago, LLC Added $4.2m409.7k shares
JANE STREET GROUP, LLC Reduced $4.2m404.0k shares
Belvedere Trading LLC New $499.5k48.4k shares
Larson Financial Group LLC New $5.2k1.3k shares

Biggest puts

JANE STREET GROUP, LLC Reduced $15.0m1.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $12.1m1.2m shares
CITADEL ADVISORS LLC Reduced $7.3m705.0k shares
GROUP ONE TRADING LLC Reduced $2.6m249.4k shares
IMC-Chicago, LLC Reduced $2.3m220.4k shares
HRT FINANCIAL LP New $610.0k59.2k shares
Belvedere Trading LLC New $29.9k2.9k shares
SUMMIT SECURITIES GROUP LLC New $5.2k500 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 518,000518.0k $5.3m $5.3m 0.01% New
2 KINGSWOOD WEALTH ADVISORS, LLC 0.11% of their portfolio SAN DIEGO, CA 255,040255.0k $2.6m $2.6m 0.11% Added +14.0k +14,001
3 GROUP ONE TRADING LLC 0.04% of their portfolio CHICAGO, IL 147,630147.6k $1.5m $1.5m 0.04% Reduced -55.5k -55,484
4 EverSource Wealth Advisors, LLC 0.03% of their portfolio BIRMINGHAM, AL 74,00474.0k $763.7k $763.7k 0.03% Added +1 +1
5 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 44,11944.1k $455.3k $455.3k 0.00% New
6 IMC-Chicago, LLC 0.00% of their portfolio CHICAGO, IL 37,92437.9k $391.4k $391.4k 0.00% New
7 Larson Financial Group LLC 0.01% of their portfolio ST LOUIS, MO 37,91137.9k $391.2k $391.2k 0.01% Added +31.2k +31,214
8 Financial Sense Advisors, Inc. 0.06% of their portfolio SAN DIEGO, CA 30,00030.0k $309.6k $309.6k 0.06% New
9 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 19,06219.1k $196.7k $196.7k 0.01% Reduced -157.3k -157,315
10 Almanack Investment Partners, LLC. 0.02% of their portfolio WAYNE, PA 17,28817.3k $178.4k $178.4k 0.02% Reduced -19.0k -18,963
11 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 16,23416.2k $167.5k $167.5k 0.00% Reduced -6.8k -6,779
12 X-Square Capital, LLC 0.04% of their portfolio GUAYNABO, PR 14,28114.3k $147.0k $147.0k 0.04% Reduced -24.2k -24,222
13 Secure Asset Management, LLC 0.02% of their portfolio Troy, MI 13,11813.1k $135.4k $135.4k 0.02% Added +3.0k +2,968
14 TWO SIGMA SECURITIES, LLC 0.01% of their portfolio NEW YORK, NY 12,31112.3k $127.0k $127.0k 0.01% New
15 Optiver Holding B.V. 0.00% of their portfolio AMSTERDAM, P7 5,5005.5k $56.8k $56.8k 0.00% New
16 MCGUIRE CAPITAL ADVISORS INC 0.01% of their portfolio BETHANY, OK 1,9351.9k $20.0k $20.0k 0.01% Reduced -12.4k -12,354
17 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,6001.6k $16.5k $16.5k 0.00% Unchanged
18 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 1,5501.6k $16.0k $16.0k 0.00% New
19 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 1,1261.1k $11.6k $11.6k 0.00% Added +200 +200
20 Financial Life Planners 0.01% of their portfolio TEMPE, AZ 1,0631.1k $11.0k $11.0k 0.01% Added +350 +350
21 SHP Wealth Management 0.00% of their portfolio PLYMOUTH, MA 1,0211.0k $10.5k $10.5k 0.00% Added +2 +2
22 Belvedere Trading LLC 0.00% of their portfolio CHICAGO, IL 859859 $8.9k $8.9k 0.00% New
23 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 600600 $6.2k $6.2k 0.00% Unchanged
24 SUMMIT SECURITIES GROUP LLC 0.00% of their portfolio NEW YORK, NY 500500 $5.2k $5.2k 0.00% Unchanged
25 HHM Wealth Advisors, LLC 0.00% of their portfolio CHATTANOOGA, TN 180180 $1.9k $1.9k 0.00% Unchanged
26 Hurley Capital, LLC 0.00% of their portfolio NEW YORK, NY 9191 $944 $944 0.00% Unchanged
27 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 5858 $622 $622 0.00% New
28 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 4343 $444 $444 0.00% First filing
29 BankPlus Trust Department 0.00% of their portfolio JACKSON, MS 2424 $248 $248 0.00% Unchanged