ParaFi Capital LP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), ParaFi Capital LP reported 11 stock positions worth $545.3 million. Its top holding was Bitwise Bitcoin ETF (BITB) at 21.1% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 21.0%) and Fidelity Wise Origin Bitcoin (FBTC, 18.8%). Compared with Q1 2025, it opened 5 new positions, sold out of 1, added to 4 and reduced 1. The biggest buy was a new position in Bitwise Bitcoin ETF (BITB) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −1%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001919332
Portfolio Value
$545.3M (Q2 2025)
SEC Filing
0001420506-25-002170 ↗ filed Aug 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q4 2024: $417.3M Q4 2024 Q1 2025: $205.2M Q1 2025 Q2 2025: $545.3M $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 11 stocks · $545.3M
BITB Bitwise Bitcoin ETF 21.06% 1,960,000 $114.8M New
IBIT iShares Bitcoin Trust ETF 21.05% 1,875,003 $114.8M Reduce -0.7%
FBTC Fidelity Wise Origin Bitcoin 18.79% 1,090,000 $102.4M Add +86.3%
CORZ Core Scientific Inc. 10.53% 3,364,763 $57.4M Add +6.7%
SBET Sharplink Inc. 8.59% 4,715,430 $46.8M New
ETHW Bitwise Ethereum ETF 6.03% 1,820,000 $32.9M No change
COIN Coinbase Global Inc. Class A 5.98% 93,000 $32.6M Add +47.1%
BTC Grayscale Bitcoin Mini ETF 4.55% 520,000 $24.8M Add +23.8%
COINBASE GLOBAL INC (COIN 0.25 04/01/30) 1.92% 8,000,000 $10.5M New
COINBASE GLOBAL INC (COIN 0.5 06/01/26) 1.06% 5,000,000 $5.8M New
TRON Tron Inc. filed as SRM ENTERTAINMENT INC 0.45% 320,000 $2.5M New

Options reported separately and not counted above: CORE SCIENTIFIC INC NEW calls ($1.6M), CIRCLE INTERNET GROUP INC puts ($937K), ISHARES BITCOIN TRUST ETF calls ($212K).

Portfolio Sells Q1 2025 → Q2 2025
IBIT iShares Bitcoin Trust ETF Reduce -0.7% 21.05% −22.02
WULF Terawulf Inc. Sold out 0.00% −0.87

Portfolio Buys Q1 2025 → Q2 2025
BITB Bitwise Bitcoin ETF New 21.06% +21.06
SBET Sharplink Inc. New 8.59% +8.59
COINBASE GLOBAL INC (COIN 0.25 04/01/30) New 1.92% +1.92
COINBASE GLOBAL INC (COIN 0.5 06/01/26) New 1.06% +1.06
COIN Coinbase Global Inc. Class A Add +47.1% 5.98% +0.67
TRON Tron Inc. New 0.45% +0.45
CORZ Core Scientific Inc. Add +6.7% 10.53% −0.60
FBTC Fidelity Wise Origin Bitcoin Add +86.3% 18.79% −1.74
BTC Grayscale Bitcoin Mini ETF Add +23.8% 4.55% −2.92

Options Activity Q1 2025 → Q2 2025
CORE SCIENTIFIC INC NEW call New 4,084 $1.6M
CIRCLE INTERNET GROUP INC put New 101 $937K
ISHARES BITCOIN TRUST ETF put Sold out 272 $452Kbefore exit
COINBASE GLOBAL INC call Sold out 110 $429Kbefore exit
ISHARES BITCOIN TRUST ETF call Add +42.7% 2,001 $212K
STRATEGY INC call Sold out 12 $74Kbefore exit

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