VOLATILITY SHS TR ETHU
2X ETHER ETF NEW · ETP · CUSIP 92864M798
34
institutional holders
-5 vs Q4 2025
1.1m
shares reported held*
$25.0mreported value*
9 new
10 added
7 reduced
15 sold out
net sold ≈ $1.0m (-46.9k 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 ≈ $22.35. Options: 4 managers hold calls ($34.8m notional), 3 hold puts ($25.0m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2025 | 2 |
| Q2 2025 | 32 |
| Q3 2025 | 51 |
| Q4 2025 | 39 |
| Q1 2026 | 34 |
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 |
|---|---|---|
| Q2 2025 | 30 | 2 |
| Q3 2025 | 38 | 16 |
| Q4 2025 | 20 | 30 |
| Q1 2026 | 19 | 22 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $79.9m | $44.2m | 0.55 |
| Q3 2025 | $289.4m | $253.7m | 0.88 |
| Q4 2025 | $116.2m | $75.3m | 0.65 |
| Q1 2026 | $34.8m | $25.0m | 0.72 |
Biggest buyers
| KEYWISE CAPITAL MANAGEMENT (HK) Ltd | Added | +129.2k |
| Foundations Investment Advisors, LLC | Added | +87.8k |
| SLT Holdings LLC | Added | +87.8k |
| Virtu Financial LLC | Added | +44.5k |
| NKCFO LLC | New | +40.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | +33.3k |
| UBS Group AG | New | +30.0k |
| GROUP ONE TRADING LLC | New | +26.0k |
| SIMPLEX TRADING, LLC | New | +24.9k |
| DGS Capital Management, LLC | New | +12.3k |
Biggest sellers
| DRW Securities, LLC | Sold out | -403.7k |
| IMC-Chicago, LLC | Sold out | -47.1k |
| CITADEL ADVISORS LLC | Sold out | -23.7k |
| Jump Financial, LLC | Reduced | -19.7k |
| JANE STREET GROUP, LLC | Reduced | -16.9k |
| Headlands Technologies LLC | Reduced | -16.8k |
| FLOW TRADERS U.S. LLC | Reduced | -11.8k |
| Lauer Wealth, LLC | Sold out | -7.0k |
| INDEPENDENT FINANCIAL GROUP, LLC | Sold out | -6.2k |
| Thompson David Blair | Sold out | -5.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.9m619.8k shares |
| JANE STREET GROUP, LLC | Added | $12.7m568.7k shares |
| CITADEL ADVISORS LLC | Reduced | $7.1m317.7k shares |
| LMR Partners LLP | Reduced | $1.1m50.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $12.0m538.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $8.5m381.4k shares |
| JANE STREET GROUP, LLC | Reduced | $4.4m198.2k 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
| Manager | Shares | Change |
|---|---|---|
| JANE STREET GROUP, LLC 0.01% of their portfolio | 304.7k $6.8m | Reduced -16.9k |
| KEYWISE CAPITAL MANAGEMENT (HK) Ltd 0.53% of their portfolio | 141.5k $3.2m | Added +129.2k |
| Foundations Investment Advisors, LLC 0.03% of their portfolio | 123.0k $2.7m | Added +87.8k |
| SLT Holdings LLC 1.94% of their portfolio | 123.0k $2.7m | Added +87.8k |
| Virtu Financial LLC 0.09% of their portfolio | 93.1k $2.1m | Added +44.5k |
| FLOW TRADERS U.S. LLC 0.06% of their portfolio | 78.7k $1.8m | Reduced -11.8k |
| NKCFO LLC 0.26% of their portfolio | 40.0k $894.0k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 33.3k $743.4k | New |
| UBS Group AG 0.00% of their portfolio | 30.0k $670.5k | New |
| GROUP ONE TRADING LLC 0.02% of their portfolio | 26.0k $581.8k | New |
| Legacy Wealth Managment, LLC/ID 0.29% of their portfolio | 26.0k $580.9k | Added +730 |
| SIMPLEX TRADING, LLC 0.02% of their portfolio | 24.9k $555.8k | New |
| Jump Financial, LLC 0.01% of their portfolio | 22.3k $497.6k | Reduced -19.7k |
| Headlands Technologies LLC 0.05% of their portfolio | 20.0k $447.8k | Reduced -16.8k |
| DGS Capital Management, LLC 0.05% of their portfolio | 12.3k $273.9k | New |
| SIGNATUREFD, LLC 0.00% of their portfolio | 6.8k $151.0k | New |
| Richard W. Paul & Associates, LLC 0.02% of their portfolio | 3.1k $69.1k | Unchanged |
| Parallel Advisors, LLC 0.00% of their portfolio | 2.5k $54.8k | Added +1.1k |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 2.1k $47.7k | Added +2.1k |
| MCGUIRE CAPITAL ADVISORS INC 0.03% of their portfolio | 1.9k $41.9k | Reduced -306 |
| Morse Asset Management, Inc 0.01% of their portfolio | 1.1k $25.7k | Added +1.1k |
| Trask Adam Roland 0.02% of their portfolio | 1.0k $22.7k | First filing |
| Root Financial Partners, LLC 0.00% of their portfolio | 944 $21.1k | New |
| Kilter Group LLC 0.01% of their portfolio | 550 $12.3k | Added +150 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 549 $12.3k | Reduced -162 |
| Colonial Trust Advisors 0.00% of their portfolio | 500 $11.2k | New |
| Clearstead Advisors, LLC 0.00% of their portfolio | 475 $10.6k | Unchanged |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 451 $10.5k | Added +7 |
| Ankerstar Wealth, LLC 0.00% of their portfolio | 44 $983 | Unchanged |
| Larson Financial Group LLC 0.00% of their portfolio | 20 $451 | Unchanged |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 20 $447 | Unchanged |
| CWM, LLC 0.00% of their portfolio | 4 $89 | Unchanged |
| BFSG, LLC 0.00% of their portfolio | 3 $68 | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 0 $2 | Reduced -6 |