VOLATILITY SHS TR SOLZ
SOLANA ETF · ETP · CUSIP 92864M822
38
institutional holders
-4 vs Q3 2025
996.2k
shares reported held*
$12.7mreported value*
13 new
9 added
9 reduced
18 sold out
net sold ≈ $9.7m (-761.7k 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 ≈ $12.74. Options: 4 managers hold calls ($6.3m notional), 4 hold puts ($4.5m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q1 2025 | 2 |
| Q2 2025 | 7 |
| Q3 2025 | 42 |
| Q4 2025 | 38 |
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 | 6 | 1 |
| Q3 2025 | 41 | 3 |
| Q4 2025 | 22 | 27 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $0 | $0 | — |
| Q2 2025 | $0 | $0 | — |
| Q3 2025 | $11.3m | $27.5m | 2.43 |
| Q4 2025 | $6.3m | $4.5m | 0.71 |
Biggest buyers
| DRW Securities, LLC | Added | +192.0k |
| IMC-Chicago, LLC | New | +70.6k |
| NEUBERGER BERMAN GROUP LLC | New | +60.1k |
| OneDigital Investment Advisors LLC | New | +16.0k |
| CITADEL ADVISORS LLC | New | +13.5k |
| Mariner, LLC | New | +11.1k |
| CAPTRUST FINANCIAL ADVISORS | New | +11.0k |
| FLOW TRADERS U.S. LLC | New | +10.8k |
| UBS Group AG | Added | +7.0k |
| US BANCORP \DE\ | New | +2.5k |
Biggest sellers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -366.1k |
| JANE STREET GROUP, LLC | Sold out | -196.4k |
| Heck Capital Advisors, LLC | Sold out | -109.3k |
| Belvedere Trading LLC | Sold out | -85.5k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -81.7k |
| Vienna Asset Management LLC | Reduced | -70.4k |
| CANTOR FITZGERALD, L. P. | Sold out | -58.0k |
| GROUP ONE TRADING LLC | Sold out | -42.3k |
| J. Goldman & Co LP | Sold out | -40.0k |
| BRIGHTON JONES LLC | Sold out | -22.5k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $4.3m336.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.4m107.8k shares |
| JANE STREET GROUP, LLC | Reduced | $658.7k51.7k shares |
| MAI Capital Management | Added | $8.9k700 shares |
Biggest puts
| HBK INVESTMENTS L P | Reduced | $1.9m150.0k shares |
| CITADEL ADVISORS LLC | Reduced | $1.1m86.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $788.6k61.9k shares |
| JANE STREET GROUP, LLC | Added | $703.2k55.2k 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, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 262.0k $3.3m | Reduced -366.1k |
| DRW Securities, LLC 0.20% of their portfolio | 203.8k $2.6m | Added +192.0k |
| Galaxy Digital Capital Management GP LLC 1.51% of their portfolio | 94.2k $1.2m | Reduced -19.5k |
| Tactive Advisors, LLC 0.27% of their portfolio | 73.0k $929.9k | Reduced -574 |
| IMC-Chicago, LLC 0.02% of their portfolio | 70.6k $899.2k | New |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 60.1k $765.7k | New |
| VR Advisory Services Ltd 0.12% of their portfolio | 58.0k $738.9k | Unchanged |
| Estate Planners Group, LLC 0.09% of their portfolio | 16.8k $214.3k | First filing |
| OneDigital Investment Advisors LLC 0.00% of their portfolio | 16.0k $204.4k | New |
| Focus Partners Wealth 0.00% of their portfolio | 14.2k $181.5k | Reduced -219 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 13.5k $171.9k | New |
| Visionary Wealth Advisors 0.01% of their portfolio | 13.2k $168.3k | Added +1.8k |
| CENTAURUS FINANCIAL, INC. 0.01% of their portfolio | 13.0k $166.0k | Reduced -300 |
| UBS Group AG 0.00% of their portfolio | 11.5k $146.9k | Added +7.0k |
| Mariner, LLC 0.00% of their portfolio | 11.1k $141.8k | New |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 11.0k $140.3k | New |
| FLOW TRADERS U.S. LLC 0.00% of their portfolio | 10.8k $137.0k | New |
| Vienna Asset Management LLC 0.08% of their portfolio | 10.5k $133.2k | Reduced -70.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 10.3k $131.2k | Added +2.2k |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 6.0k $76.4k | Unchanged |
| Parallel Advisors, LLC 0.00% of their portfolio | 3.4k $43.2k | Unchanged |
| MONTAG A & ASSOCIATES INC 0.00% of their portfolio | 2.8k $35.0k | Unchanged |
| US BANCORP \DE\ 0.00% of their portfolio | 2.5k $31.7k | New |
| Kestra Advisory Services, LLC 0.00% of their portfolio | 1.9k $24.6k | New |
| Glass Jacobson Investment Advisors llc 0.01% of their portfolio | 1.5k $19.4k | New |
| MAI Capital Management 0.00% of their portfolio | 1.3k $16.6k | Added +400 |
| IFP Advisors, Inc 0.00% of their portfolio | 800 $10.2k | Added +600 |
| HIGHLINE WEALTH PARTNERS LLC 0.00% of their portfolio | 550 $7.0k | New |
| Quaker Wealth Management, LLC 0.00% of their portfolio | 511 $6.5k | Reduced -299 |
| Sound Income Strategies, LLC 0.00% of their portfolio | 354 $5.3k | Unchanged |
| CHESAPEAKE ASSET MANAGEMENT LLC 0.00% of their portfolio | 300 $3.8k | New |
| Caitlin John, LLC 0.00% of their portfolio | 142 $1.8k | Reduced -114 |
| Ankerstar Wealth, LLC 0.00% of their portfolio | 140 $1.8k | First filing |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 109 $1.4k | Added +49 |
| TOTH FINANCIAL ADVISORY CORP 0.00% of their portfolio | 100 $1.3k | New |
| Westend Capital Management, LLC 0.00% of their portfolio | 74 $943 | Added +65 |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 25 $319 | Added +15 |
| High Note Wealth, LLC 0.00% of their portfolio | 10 $127 | Reduced -1.1k |