Fidelity Wise Origin Bitcoin Fund

FBTC • BATS

Fidelity Wise Origin Bitcoin Fund is an exchange-traded fund focused on the commodity contracts brokers & dealers sector on BATS. As of Q3 2025, 664 institutional investors hold shares in this ETF, with total holdings valued at $4.4B. MILLENNIUM MANAGEMENT LLC is the largest holder with a position valued at $743.3M.

COMMODITY CONTRACTS BROKERS & DEALERS

Country

United States of America

Overview

Overview of institutional ownership in FBTC as of Q3 2025

All Institutions

Institutions: 664
Value Held: $4.4B
Shares Held: 44.1M
Avg Position: $6.6M
Median Position: $615.7K

Hedge Funds

Hedge Funds: 29
Value Held: $1.5B
Shares Held: 14.9M
Avg Position: $51.3M
Median Position: $5.0M

Biggest Investors

Institutions with the largest positions in FBTC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$743.3M 0.61% of portfolio	7.4M shares	Q1 2024 Held for 1y 8m	$121.98B
J JANE STREET GROUP, LLC Institution	-	$235.5M 0.28% of portfolio	2.4M shares	Q1 2024 Held for 1y 8m	$84.1B
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	Ryan Andrew Tolkin CEO	$218.6M 1.53% of portfolio	2.2M shares	Q1 2024 Held for 1y 8m	$14.3B
OZ MANAGEMENT LP Hedge Fund•Multi-Strategy	Wayne Nathan Cohen President	$218.5M 4.77% of portfolio	2.2M shares	Q4 2024 Held for 11 months	$4.6B
C Capula Management Ltd Institution	-	$210.9M 1.57% of portfolio	2.1M shares	Q2 2024 Held for 1y 5m	$13.4B
Almitas Capital LLC RIA/Wealth	Ronald Dean Mass Managing Partner	$160.9M 36.90% of portfolio	1.6M shares	Q3 2024 Held for 1y 2m	$435.9M
C CANTOR FITZGERALD, L. P. Institution	-	$127.8M 2.53% of portfolio	1.3M shares	Q1 2024 Held for 1y 8m	$5.1B
P ParaFi Capital LP Digital Asset Manager	Benjamin Solomon Forman Founder	$108.8M 23.78% of portfolio	1.1M shares	Q4 2024 Held for 11 months	$457.4M
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$94.0M 0.01% of portfolio	942.1K shares	Q2 2024 Held for 1y 5m	$691.34B
P Pine Ridge Advisers LLC Fund of Funds	Baldassare Fodera Managing Partner	$83.3M 5.71% of portfolio	834.4K shares	Q1 2024 Held for 1y 8m	$1.5B

Net Capital Flow

Institutional buying and selling activity for FBTC in Q3 2025

Traded: −$512.8M
Buyers: 434
Sellers: 139
Total Bought: +$490.4M
Total Sold: −$1.0B
Avg Position: $6.3M

Biggest Buyers

Institution	Net Bought	Current Position
C Capula Management Ltd Institution	+$61.4M +615.6K shares	$210.9M 2.1M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$41.4M +414.8K shares	$743.3M 7.4M shares
IMC-Chicago, LLC RIA/Wealth	+$28.3M +283.3K shares	$55.4M 555.0K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$24.7M +247.2K shares	$57.9M 579.8K shares
G GUARDIAN POINT CAPITAL, LP Hedge Fund•Long/Short	+$20.0M +200.0K shares	$20.0M 200.0K shares
H Heck Capital Advisors, LLC RIA/Wealth	+$16.8M +168.1K shares	$24.8M 248.5K shares
D D. E. Shaw & Co., Inc. Institution	+$13.4M +134.0K shares	$18.6M 186.0K shares
S SIMPLEX TRADING, LLC Institution	+$13.0M +130.5K shares	$20.0M 200.3K shares
Logan Stone Capital, LLC Hedge Fund•Long/Short	+$12.8M +128.3K shares	$15.0M 150.0K shares
KALEIDOSCOPE CAPITAL LP Hedge Fund•Quant	+$12.1M +121.2K shares	$37.7M 378.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
GOLDMAN SACHS GROUP INC Institution	−$366.4M −3.7M shares	$94.0M 942.1K shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	−$246.3M −2.5M shares	$218.6M 2.2M shares
J JANE STREET GROUP, LLC Institution	−$193.8M −1.9M shares	$235.5M 2.4M shares
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy	−$44.8M −448.9K shares	$33.1M 331.3K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$29.5M −313.4K shares	Sold Off 0 shares
O'Neil Global Advisors, Inc. Hedge Fund•Multi-Strategy	−$27.9M −279.6K shares	$3.3M 32.8K shares
Symphony Financial, Ltd. Co. RIA/Wealth	−$14.2M −151.3K shares	Sold Off 0 shares
BANK OF MONTREAL /CAN/ Institution	−$6.6M −65.7K shares	$813.6K 8.2K shares
Militia Capital Partners, LP Hedge Fund•Long/Short	−$6.2M −62.2K shares	$1.0M 10.5K shares
BECK CAPITAL MANAGEMENT, LLC RIA/Wealth	−$5.6M −55.8K shares	$798.7K 8.0K shares

Entry and Exit Activity

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

New Positions: 85
New Value: $72.5M
Exited Positions: 28
Exited Value: $55.9M

New Positions

Institution	Position Value
G GUARDIAN POINT CAPITAL, LP Hedge Fund•Long/Short	$20.0M 200.0K shares
Great Point Wealth Advisors, LLC RIA/Wealth	$9.1M 91.2K shares
Berman McAleer LLC RIA/Wealth	$5.9M 58.6K shares
ELEMENT POINTE ADVISORS, LLC Family Office	$4.1M 41.0K shares
Advisors Capital Management, LLC RIA/Wealth	$3.7M 37.2K shares
Howard Capital Management Inc. Long Only Manager	$3.5M 34.8K shares
E Exit Wealth Advisors, LLC. RIA/Wealth	$3.4M 33.9K shares
V Vise Technologies, Inc. Institution	$3.3M 32.8K shares
Summit Financial, LLC RIA/Wealth	$2.7M 27.1K shares
Oak Grove Capital LLC RIA/Wealth	$1.3M 12.9K shares

Exited Positions

Institution	Previous Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$29.5M 313.4K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$14.2M 151.3K shares
Empowered Funds, LLC ETF Provider	$3.9M 41.0K shares
D DRW Securities, LLC Institution	$1.8M 18.9K shares
Integrys Wealth Advisors LLC RIA/Wealth	$1.2M 12.5K shares
L.M. KOHN & COMPANY RIA/Wealth	$1.1M 11.5K shares
H HARBER ASSET MANAGEMENT LLC Institution	$843.1K 9.0K shares
S SYMMETRY PEAK MANAGEMENT LLC Institution	$659.8K 7.0K shares
I Impact Partnership Wealth, LLC RIA/Wealth	$399.9K 4.3K shares
WADDELL & ASSOCIATES, LLC RIA/Wealth	$378.0K 4.0K shares

Options Activity

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

Call Positions: 10
Call Value: $303.9M
Put Positions: 11
Put Value: $564.5M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$108.0M 10.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$87.2M 8.7K contracts
J JANE STREET GROUP, LLC Institution	$63.9M 6.4K contracts
Toroso Investments, LLC ETF Provider	$15.0M 1.5K contracts
W WOLVERINE TRADING, LLC Institution	$15.0M 1.5K contracts
Walleye Trading LLC RIA/Wealth	$7.8M 784.0 contracts
S SYMMETRY PEAK MANAGEMENT LLC Institution	$6.4M 645.0 contracts
BANK OF AMERICA CORP /DE/ Institution	$509.0K 51.0 contracts
Traynor Capital Management, Inc. RIA/Wealth	$49.9K 5.0 contracts
S Shay Capital LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$204.8M 20.5K contracts
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$116.5M 11.7K contracts
L LMR Partners LLP Institution	$95.6M 9.6K contracts
GOLDMAN SACHS GROUP INC Institution	$39.9M 4.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$39.1M 3.9K contracts
C CANTOR FITZGERALD, L. P. Institution	$25.0M 2.5K contracts
J JANE STREET GROUP, LLC Institution	$19.2M 1.9K contracts
Walleye Trading LLC RIA/Wealth	$6.8M 679.0 contracts
S SYMMETRY PEAK MANAGEMENT LLC Institution	$6.1M 613.0 contracts
Ursa Fund Management, LLC Hedge Fund•Event Driven	$6.0M 600.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Almitas Capital LLC RIA/Wealth	Ronald Dean Mass Managing Partner	36.90% $160.9M	1.6M shares	Q3 2024 Held for 1y 2m	$435.9M
COURAGE CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Thomas Gordon Milne President	25.15% $16.6M	165.9K shares	Q1 2024 Held for 1y 8m	$65.8M
P ParaFi Capital LP Digital Asset Manager	Benjamin Solomon Forman Founder	23.78% $108.8M	1.1M shares	Q4 2024 Held for 11 months	$457.4M
Atlas Wealth Partners, LLC RIA/Wealth	Michael Joseph Janvrin Managing Partner	21.11% $20.6M	206.7K shares	Q3 2024 Held for 1y 2m	$97.7M
SKY-MOUNTAIN CAPITAL MANAGEMENT, INC. RIA/Wealth	Thomas E Nelson President	11.65% $16.7M	177.6K shares	Q1 2025 Held for 8 months	$143.2M
KALEIDOSCOPE CAPITAL LP Hedge Fund•Quant	Stephen Edward Shorey CFO	10.78% $37.7M	378.0K shares	Q4 2024 Held for 11 months	$350.0M
O Ovata Capital Management Ltd Institution	-	10.30% $29.4M	295.6K shares	Q1 2024 Held for 1y 8m	$285.4M
G GUARDIAN POINT CAPITAL, LP Hedge Fund•Long/Short	Dru Alexander Rasmussen CFO	9.86% $20.0M	200.0K shares	Q3 2025 Held for 2 months	$202.5M
R RPO LLC Hedge Fund•Multi-Strategy	John David Rogers Managing Partner	9.28% $5.0M	49.8K shares	Q1 2024 Held for 1y 8m	$53.5M
A Alamea Verwaltungs GmbH Institution	-	8.03% $11.8M	117.8K shares	Q1 2025 Held for 8 months	$146.4M