ParaFi Capital LP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), ParaFi Capital LP reported 7 stock positions worth $205.2 million. Its top holding was iShares Bitcoin Trust ETF (IBIT) at 43.1% of the portfolio, followed by Fidelity Wise Origin Bitcoin (FBTC, 20.5%) and Bitwise Ethereum ETF (ETHW, 11.6%). Compared with Q4 2024, it sold out of 2, added to 2 and reduced 3. The biggest buy was Coinbase Global Class A (COIN, shares +72%) and the biggest sale an exit from Bitwise Bitcoin ETF (BITB).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001919332
Portfolio Value
$205.2M (Q1 2025)
SEC Filing
0001420506-25-001284 ↗ filed May 15, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q4 2024: $417.3M Q4 2024 Q1 2025: $205.2M $205.2M Q1 2025 Q2 2025: $545.3M Q2 2025 Q3 2025: $454.6M Q3 2025 Q4 2025: $336.6M Q4 2025 Q1 2026: $278.9M Q1 2026 Q2 2026: $262.4M Q2 2026

Holdings 7 stocks · $205.2M
IBIT iShares Bitcoin Trust ETF 43.07% 1,887,501 $88.4M No change
FBTC Fidelity Wise Origin Bitcoin 20.52% 585,000 $42.1M Reduce -50.2%
ETHW Bitwise Ethereum ETF 11.64% 1,820,000 $23.9M No change
CORZ Core Scientific Inc. 11.13% 3,154,823 $22.8M Add +10.3%
BTC Grayscale Bitcoin Mini ETF 7.47% 420,000 $15.3M Reduce -19.2%
COIN Coinbase Global Inc. Class A 5.31% 63,200 $10.9M Add +72.3%
WULF Terawulf Inc. 0.87% 651,000 $1.8M Reduce -23.5%

Options reported separately and not counted above: ISHARES BITCOIN TRUST ETF calls ($645K), ISHARES BITCOIN TRUST ETF puts ($452K), COINBASE GLOBAL INC calls ($429K), STRATEGY INC calls ($74K).

Portfolio Sells Q4 2024 → Q1 2025
BITB Bitwise Bitcoin ETF Sold out 0.00% −23.88
FBTC Fidelity Wise Origin Bitcoin Reduce -50.2% 20.52% −2.45
WULF Terawulf Inc. Reduce -23.5% 0.87% −0.29
MSTR Strategy Inc. Sold out 0.00% −0.21
BTC Grayscale Bitcoin Mini ETF Reduce -19.2% 7.47% +2.25

Portfolio Buys Q4 2024 → Q1 2025
COIN Coinbase Global Inc. Class A Add +72.3% 5.31% +3.12
CORZ Core Scientific Inc. Add +10.3% 11.13% +1.20

Options Activity Q4 2024 → Q1 2025
STRATEGY INC put Sold out 3,000 $869Kbefore exit
ISHARES BITCOIN TRUST ETF call New 1,402 $645K
ISHARES BITCOIN TRUST ETF put Reduce -99.0% 272 $452K
COINBASE GLOBAL INC call New 110 $429K
STRATEGY INC call New 12 $74K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 17$262.4MBITB, FBTC, IBIT, HOOD, BMNR
Q1 2026 15$278.9MBITB, FBTC, IBIT, SBET, CRCL
Q4 2025 13$336.6MBITB, FBTC, IBIT, SBET, BTC
Q3 2025 10$454.6MBITB, FBTC, IBIT, SBET, BTC
Q2 2025 11$545.3MBITB, IBIT, FBTC, CORZ, SBET
Q1 2025 7$205.2MIBIT, FBTC, ETHW, CORZ, BTC
Q4 2024 9$417.3MIBIT, BITB, FBTC, ETHW, CORZ