Odaily Planet Daily reports that 10x Research posted on X that, despite Bitcoin’s 46% decline, Bitcoin ETFs recorded only $8.5 billion in net outflows. According to the latest Q4 2025 13F filings, an estimated 55% to 75% of IBIT’s $61 billion in assets are held by market makers and arbitrage-focused hedge funds, whose positions are largely hedged or market-neutral rather than expressing directional views. During Q4 2025, as Bitcoin consolidated around $88,000, market makers reduced their exposure by approximately $1.6 to $2.4 billion, reflecting decreased speculative demand and lower demand for arbitrage inventory.
IBIT: $610 billion in assets, 55%-75% held by market makers and arbitrage funds
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Summary
Market trends indicate that 55%–75% of IBIT’s $610 billion in assets are held by market makers and arbitrage-focused hedge funds, with most positions hedged or market-neutral. Market cycles influenced Q4 2025 activity, as market makers reduced their risk exposure by $1.6 to $2.4 billion amid Bitcoin consolidating near $88,000.
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