Bitcoin Strategy

BITX • BATS

Bitcoin Strategy is an exchange-traded fund on BATS. As of Q3 2025, 44 institutional investors hold shares in this ETF, with total holdings valued at $109.4M. JANE STREET GROUP, LLC is the largest holder with a position valued at $72.5M.

Overview

Overview of institutional ownership in BITX as of Q3 2025

All Institutions

Institutions: 44
Value Held: $109.4M
Shares Held: 2.0M
Avg Position: $2.5M
Median Position: $310.7K

Hedge Funds

Hedge Funds: 1
Value Held: $1.2M
Shares Held: 22.0K
Avg Position: $1.2M
Median Position: $1.2M

Biggest Investors

Institutions with the largest positions in BITX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
J JANE STREET GROUP, LLC Institution	-	$72.5M 0.09% of portfolio	1.3M shares	Q4 2023 Held for 1y 11m	$84.1B
KINGSWOOD WEALTH ADVISORS, LLC RIA/Wealth	Michael Haskel Nessim CEO	$12.7M 0.78% of portfolio	231.4K shares	Q4 2023 Held for 1y 11m	$1.6B
UBS Group AG Institution	Sergio P. Ermotti CEO	$2.6M 0.00% of portfolio	47.7K shares	Q2 2025 Held for 5 months	$511.54B
Goss Wealth Management LLC RIA/Wealth	Alexander Thomas Goss CEO	$2.3M 0.01% of portfolio	41.7K shares	Q2 2024 Held for 1y 5m	$21.8B
X-Square Capital, LLC Long Only Manager	Ignacio Manuel Canto President	$2.0M 0.65% of portfolio	36.1K shares	Q1 2024 Held for 1y 8m	$306.2M
Almanack Investment Partners, LLC. RIA/Wealth	Megen Ann Hemdal COO	$2.0M 0.34% of portfolio	35.7K shares	Q1 2024 Held for 1y 8m	$580.5M
Puplava Financial Services, Inc. RIA/Wealth	Lisa Helm CEO	$1.6M 0.35% of portfolio	29.7K shares	Q1 2025 Held for 8 months	$471.5M
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$1.6M 0.00% of portfolio	29.5K shares	Q3 2023 Held for 2y 2m	$67.9B
VISION FINANCIAL MARKETS LLC RIA/Wealth	Robert Stagg Winston Managing Partner	$1.2M 1.05% of portfolio	22.4K shares	Q2 2025 Held for 5 months	$117.1M
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	David Allen Lippe CEO	$1.2M 0.00% of portfolio	22.0K shares	Q2 2025 Held for 5 months	$75.8B

Net Capital Flow

Institutional buying and selling activity for BITX in Q3 2025

Net Flow: +$4.7M
Buyers: 14
Sellers: 32
Total Bought: +$43.8M
Total Sold: −$39.1M
Avg Position: $2.2M

Biggest Buyers

Institution	Net Bought	Current Position
J JANE STREET GROUP, LLC Institution	+$38.0M +690.6K shares	$72.5M 1.3M shares
UBS Group AG Institution	+$1.5M +26.4K shares	$2.6M 47.7K shares
X-Square Capital, LLC Long Only Manager	+$1.4M +24.9K shares	$2.0M 36.1K shares
KG&L Capital Management,LLC RIA/Wealth	+$1.1M +20.6K shares	$1.1M 20.6K shares
VISION FINANCIAL MARKETS LLC RIA/Wealth	+$622.4K +11.3K shares	$1.2M 22.4K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$501.2K +9.1K shares	$1.2M 22.0K shares
Lauer Wealth, LLC RIA/Wealth	+$299.3K +5.8K shares	$536.4K 10.4K shares
S Sassicaia Capital Advisers LLC Institution	+$165.2K +3.0K shares	$826.2K 15.0K shares
Goss Wealth Management LLC RIA/Wealth	+$150.6K +2.7K shares	$2.3M 41.7K shares
Silverleafe Capital Partners, LLC RIA/Wealth	+$73.3K +1.3K shares	$626.4K 11.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
D DRW Securities, LLC Institution	−$8.9M −161.4K shares	$297.5K 5.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$5.9M −107.0K shares	$1.6M 29.5K shares
IMC-Chicago, LLC RIA/Wealth	−$4.8M −89.4K shares	Sold Off 0 shares
J Jump Financial, LLC Institution	−$4.2M −77.2K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$3.9M −72.3K shares	Sold Off 0 shares
KINGSWOOD WEALTH ADVISORS, LLC RIA/Wealth	−$3.6M −65.1K shares	$12.7M 231.4K shares
F FLOW TRADERS U.S. LLC Institution	−$2.0M −37.4K shares	Sold Off 0 shares
A Atlantic Trust Group, LLC Institution	−$1.7M −31.5K shares	Sold Off 0 shares
V Virtu Financial LLC Institution	−$1.0M −18.6K shares	$527.4K 9.6K shares
HighTower Advisors, LLC RIA/Wealth	−$892.7K −16.2K shares	$372.0K 6.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BITX in Q3 2025

New Positions: 11
New Value: $1.4M
Exited Positions: 18
Exited Value: $18.4M

New Positions

Institution	Position Value
CITIZENS FINANCIAL GROUP INC/RI Institution	$324.6K 5.9K shares
CAPTRUST FINANCIAL ADVISORS RIA/Wealth	$294.5K 5.3K shares
Private Advisor Group, LLC RIA/Wealth	$255.7K 4.6K shares
Diversify Advisory Services, LLC RIA/Wealth	$242.5K 5.3K shares
MYECFO, LLC RIA/Wealth	$206.6K 3.8K shares
Union Bankshares Corp Institution	$33.0K 600.0 shares
HIGHLINE WEALTH PARTNERS LLC RIA/Wealth	$27.5K 500.0 shares
Financial Life Planners RIA/Wealth	$23.3K 423.0 shares
Guerra Advisors Inc RIA/Wealth	$6.4K 117.0 shares
C Concord Wealth Partners RIA/Wealth	$4.3K 77.0 shares

Exited Positions

Institution	Previous Position
IMC-Chicago, LLC RIA/Wealth	$4.8M 89.4K shares
J Jump Financial, LLC Institution	$4.2M 77.2K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.9M 72.3K shares
F FLOW TRADERS U.S. LLC Institution	$2.0M 37.4K shares
A Atlantic Trust Group, LLC Institution	$1.7M 31.5K shares
T TWO SIGMA SECURITIES, LLC Institution	$597.2K 11.1K shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	$289.4K 5.4K shares
Empirical Financial Services, LLC RIA/Wealth	$276.6K 5.1K shares
Apollon Wealth Management, LLC RIA/Wealth	$220.1K 4.1K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$200.1K 3.6K shares

Options Activity

Institutions with the largest Call and Put options positions in BITX as of Q3 2025

Call Positions: 7
Call Value: $295.8M
Put Positions: 5
Put Value: $347.3M

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$107.4M 19.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$92.4M 16.8K contracts
J JANE STREET GROUP, LLC Institution	$69.0M 12.5K contracts
W WOLVERINE TRADING, LLC Institution	$20.3M 3.7K contracts
B Belvedere Trading LLC Institution	$5.4M 987.0 contracts
KG&L Capital Management,LLC RIA/Wealth	$1.1M 1.2K contracts
HOLLENCREST SECURITIES LLC RIA/Wealth	$27.5K 5.0 contracts

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$139.2M 25.3K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$131.1M 23.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$52.3M 9.5K contracts
W WOLVERINE TRADING, LLC Institution	$13.9M 2.5K contracts
B Belvedere Trading LLC Institution	$10.9M 2.0K contracts

Most Committed Institutions

Institutions with BITX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
VISION FINANCIAL MARKETS LLC RIA/Wealth	Robert Stagg Winston Managing Partner	1.05% $1.2M	22.4K shares	Q2 2025 Held for 5 months	$117.1M
KINGSWOOD WEALTH ADVISORS, LLC RIA/Wealth	Michael Haskel Nessim CEO	0.78% $12.7M	231.4K shares	Q4 2023 Held for 1y 11m	$1.6B
X-Square Capital, LLC Long Only Manager	Ignacio Manuel Canto President	0.65% $2.0M	36.1K shares	Q1 2024 Held for 1y 8m	$306.2M
Lauer Wealth, LLC RIA/Wealth	Richard Thomas Lauer President	0.40% $536.4K	10.4K shares	Q1 2025 Held for 8 months	$135.4M
S Sassicaia Capital Advisers LLC Institution	-	0.37% $826.2K	15.0K shares	Q2 2025 Held for 5 months	$224.4M
Puplava Financial Services, Inc. RIA/Wealth	Lisa Helm CEO	0.35% $1.6M	29.7K shares	Q1 2025 Held for 8 months	$471.5M
Almanack Investment Partners, LLC. RIA/Wealth	Megen Ann Hemdal COO	0.34% $2.0M	35.7K shares	Q1 2024 Held for 1y 8m	$580.5M
KG&L Capital Management,LLC RIA/Wealth	Gabriel Simon Kora Managing Partner	0.31% $1.1M	20.6K shares	Q1 2025 Held for 8 months	$364.0M
Silverleafe Capital Partners, LLC RIA/Wealth	William Daniel Patterson Founder	0.19% $626.4K	11.4K shares	Q1 2025 Held for 8 months	$323.8M
S Secure Asset Management, LLC RIA/Wealth	Bryan Eliott Spencer Managing Partner	0.11% $644.1K	11.1K shares	Q4 2024 Held for 11 months	$606.3M

Hedge Fund Spotlight

Discover hedge funds investing in BITX

RENAISSANCE TECHNOLOGIES LLC

Hedge Fund • Quant

Portfolio ManagerDavid Allen Lippe

Portfolio Value: $75.8B
Positions: 3,419
Last Reported: Q3 2025

Sector Allocation

Position in Bitcoin Strategy

Market Value: $1.2M
Shares Held: 22.0K
Portfolio Weight: 0.00%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Palantir Technologies Inc. PLTR	Software - Infrastructure Technology	$1.6B	2.06%
2 Nvidia NVDA	Semiconductors Technology	$1.1B	1.39%
3 Roblox RBLX	Electronic Gaming & Multimedia Technology	$953.5M	1.26%