VanEck Bitcoin Trust

HODL • BATS

VanEck Bitcoin Trust is an exchange-traded fund focused on the commodity contracts brokers & dealers sector on BATS. As of Q3 2025, 119 institutional investors hold shares in this ETF, with total holdings valued at $532.4M. NEOS Investment Management LLC is the largest holder with a position valued at $195.3M.

COMMODITY CONTRACTS BROKERS & DEALERS

Country

United States of America

Overview

Overview of institutional ownership in HODL as of Q3 2025

All Institutions

Institutions: 119
Value Held: $532.4M
Shares Held: 16.4M
Avg Position: $4.5M
Median Position: $486.6K

Hedge Funds

Hedge Funds: 5
Value Held: $22.3M
Shares Held: 689.4K
Avg Position: $4.5M
Median Position: $2.3M

Biggest Investors

Institutions with the largest positions in HODL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
N NEOS Investment Management LLC Institution	-	$195.3M 1.46% of portfolio	6.0M shares	Q4 2024 Held for 11 months	$13.4B
VAN ECK ASSOCIATES CORP ETF Provider	Jan Frederick Vaneck CEO	$133.2M 0.14% of portfolio	4.1M shares	Q1 2024 Held for 1y 8m	$96.6B
B Berger Financial Group, Inc RIA/Wealth	Nicholas Robert Asmus CEO	$20.9M 1.26% of portfolio	644.3K shares	Q3 2024 Held for 1y 2m	$1.7B
Hunting Hill Global Capital, LLC Hedge Fund•Multi-Strategy	Adam Michael Guren CIO	$16.3M 6.16% of portfolio	505.0K shares	Q4 2024 Held for 11 months	$265.2M
Toroso Investments, LLC ETF Provider	Guillermo Trias CEO	$15.1M 0.07% of portfolio	466.5K shares	Q2 2024 Held for 1y 5m	$23.2B
Gradient Investments LLC RIA/Wealth	Michael Arthur Binger President	$14.5M 0.25% of portfolio	446.9K shares	Q3 2024 Held for 1y 2m	$5.7B
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	Hyun Michael Kim CEO	$10.4M 0.02% of portfolio	322.0K shares	Q1 2024 Held for 1y 8m	$46.5B
Goss Wealth Management LLC RIA/Wealth	Alexander Thomas Goss CEO	$9.8M 0.05% of portfolio	303.3K shares	Q1 2025 Held for 8 months	$21.8B
Cambria Investment Management, L.P. ETF Provider	Mebane Thadley Faber CEO	$9.0M 0.52% of portfolio	278.2K shares	Q1 2024 Held for 1y 8m	$1.7B
David R. Rahn & Associates Inc. RIA/Wealth	Clara Basile CEO	$8.1M 2.00% of portfolio	248.7K shares	Q4 2024 Held for 11 months	$402.8M

Net Capital Flow

Institutional buying and selling activity for HODL in Q3 2025

Traded: +$133.4M
Buyers: 74
Sellers: 32
Total Bought: +$154.9M
Total Sold: −$21.4M
Avg Position: $4.1M

Biggest Buyers

Institution	Net Bought	Current Position
N NEOS Investment Management LLC Institution	+$101.6M +3.1M shares	$195.3M 6.0M shares
GENWORTH FINANCIAL WEALTH MANAGEMENT, INC Long Only Manager	+$6.7M +207.4K shares	$10.4M 322.0K shares
H Heck Capital Advisors, LLC RIA/Wealth	+$6.3M +193.6K shares	$6.3M 193.6K shares
VAN ECK ASSOCIATES CORP ETF Provider	+$5.5M +170.5K shares	$133.2M 4.1M shares
Hunting Hill Global Capital, LLC Hedge Fund•Multi-Strategy	+$3.4M +105.9K shares	$16.3M 505.0K shares
Gradient Investments LLC RIA/Wealth	+$3.2M +99.0K shares	$14.5M 446.9K shares
Empowered Funds, LLC ETF Provider	+$2.3M +70.4K shares	$2.3M 70.4K shares
STANSBERRY ASSET MANAGEMENT, LLC RIA/Wealth	+$2.1M +64.7K shares	$2.1M 64.7K shares
P Proficio Capital Partners LLC Family Office	+$1.7M +52.7K shares	$1.7M 52.7K shares
A Advisor Group Holdings, Inc. Institution	+$1.6M +48.4K shares	$2.0M 62.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
Toroso Investments, LLC ETF Provider	−$5.5M −170.6K shares	$15.1M 466.5K shares
F FLOW TRADERS U.S. LLC Institution	−$4.5M −146.7K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$3.5M −108.8K shares	$1.1M 33.0K shares
SYON CAPITAL LLC RIA/Wealth	−$2.3M −76.5K shares	Sold Off 0 shares
Cambria Investment Management, L.P. ETF Provider	−$1.5M −45.8K shares	$9.0M 278.2K shares
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	−$929.9K −30.5K shares	Sold Off 0 shares
S SIH Partners, LLLP Institution	−$771.9K −25.3K shares	Sold Off 0 shares
S Simplify Asset Management Inc. Institution	−$441.0K −13.6K shares	$7.6M 235.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$284.9K −8.8K shares	$2.9M 90.1K shares
INTL FCSTONE INC. Institution	−$281.0K −8.7K shares	$794.4K 24.5K shares

Entry and Exit Activity

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

New Positions: 21
New Value: $16.8M
Exited Positions: 9
Exited Value: $8.8M

New Positions

Institution	Position Value
H Heck Capital Advisors, LLC RIA/Wealth	$6.3M 193.6K shares
Empowered Funds, LLC ETF Provider	$2.3M 70.4K shares
STANSBERRY ASSET MANAGEMENT, LLC RIA/Wealth	$2.1M 64.7K shares
P Proficio Capital Partners LLC Family Office	$1.7M 52.7K shares
T TWIN FOCUS CAPITAL PARTNERS, LLC Family Office	$1.0M 31.9K shares
Summit Financial, LLC RIA/Wealth	$632.3K 19.5K shares
SIGNATURE SECURITIES GROUP CORPORATION RIA/Wealth	$309.5K 9.6K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	$289.4K 8.9K shares
Maridea Wealth Management LLC RIA/Wealth	$272.3K 8.7K shares
C CIBC World Markets Inc. Institution	$270.9K 8.4K shares

Exited Positions

Institution	Previous Position
F FLOW TRADERS U.S. LLC Institution	$4.5M 146.7K shares
SYON CAPITAL LLC RIA/Wealth	$2.3M 76.5K shares
HORIZON KINETICS ASSET MANAGEMENT LLC Long Only Manager	$929.9K 30.5K shares
S SIH Partners, LLLP Institution	$771.9K 25.3K shares
H HRT FINANCIAL LLC Institution	$221.0K 7.3K shares
McElhenny Sheffield Capital Management, LLC Long Only Manager	$33.1K 34.0K shares
Kiker Wealth Management, LLC RIA/Wealth	$8.7K 284.0 shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$853.0 28.0 shares
Mid-American Wealth Advisory Group, Inc. RIA/Wealth	$457.0 15.0 shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Hunting Hill Global Capital, LLC Hedge Fund•Multi-Strategy	Adam Michael Guren CIO	6.16% $16.3M	505.0K shares	Q4 2024 Held for 11 months	$265.2M
R RPO LLC Hedge Fund•Multi-Strategy	John David Rogers Managing Partner	4.21% $2.3M	69.6K shares	Q1 2024 Held for 1y 8m	$53.5M
David R. Rahn & Associates Inc. RIA/Wealth	Clara Basile CEO	2.00% $8.1M	248.7K shares	Q4 2024 Held for 11 months	$402.8M
N NEOS Investment Management LLC Institution	-	1.46% $195.3M	6.0M shares	Q4 2024 Held for 11 months	$13.4B
B Berger Financial Group, Inc RIA/Wealth	Nicholas Robert Asmus CEO	1.26% $20.9M	644.3K shares	Q3 2024 Held for 1y 2m	$1.7B
F Farringdon Capital, Ltd. Institution	-	1.18% $4.6M	142.8K shares	Q4 2024 Held for 11 months	$391.6M
M MGB Wealth Management, LLC RIA/Wealth	Michael Glen Bailey CCO	0.61% $2.2M	66.6K shares	Q2 2025 Held for 5 months	$354.0M
Mattson Financial Services, LLC RIA/Wealth	Gary Herman Mattson Managing Partner	0.58% $2.4M	73.4K shares	Q4 2024 Held for 11 months	$407.9M
Cambria Investment Management, L.P. ETF Provider	Mebane Thadley Faber CEO	0.52% $9.0M	278.2K shares	Q1 2024 Held for 1y 8m	$1.7B
H Heck Capital Advisors, LLC RIA/Wealth	Kenneth Robert Heck CFO	0.50% $6.3M	193.6K shares	Q3 2025 Held for 2 months	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in HODL

Hunting Hill Global Capital, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerAdam Michael Guren

Portfolio Value: $265.2M
Positions: 78
Last Reported: Q3 2025

Sector Allocation

Position in VanEck Bitcoin Trust

Market Value: $16.3M
Shares Held: 505.0K
Portfolio Weight: 6.16%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 iShares Bitcoin Trust IBIT	ETF ETF	$32.4M	12.21%
2 Fox Corporation FOX	Entertainment Communication Services	$24.1M	9.09%
3 ETHA iShares Ethereum Trust ETHA	Unknown Unknown	$23.4M	8.83%

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