Belvedere Trading
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Belvedere Trading’s Grayscale Bitcoin Trust GBTC Stock Holding History

Belvedere Trading’s Portfolio GBTC Stock Details GBTC Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2025
Q4 		– Sell
-2,714
Closed -$213K – 920
2025
Q3 		$244K Buy
2,714
+1,268
+88% +$114K ﹤0.01% 428
2025
Q2 		$123K Buy
+1,446
New +$112K ﹤0.01% 493

Other funds holding GBTC

HKAM
Horizon Kinetics Asset Management New York $8.82B AUM 23.05% 1-Year Est. Return
LPL Financial
LPL Financial San Diego, California $445B AUM 25.58% 1-Year Est. Return
HighTower Advisors
HighTower Advisors Chicago, Illinois $104B AUM 28.3% 1-Year Est. Return
VF
Virtu Financial New York $3.18B AUM 65.92% 1-Year Est. Return
MRI
Mad River Investors Boston, Massachusetts $268M AUM 31.54% 1-Year Est. Return
ECM
EagleClaw Capital Management Boston, Massachusetts $745M AUM 23.99% 1-Year Est. Return
Jane Street
Jane Street New York $1.21T AUM 78.12% 1-Year Est. Return
Citadel Advisors
Citadel Advisors Miami, Florida $875B AUM 40.89% 1-Year Est. Return
MC
Moors & Cabot Boston, Massachusetts $2.57B AUM 37.84% 1-Year Est. Return
Mariner
Mariner Overland Park, Kansas $95.2B AUM 32.92% 1-Year Est. Return

Belvedere Trading's GBTC Position: Q4 2025 in Review

Belvedere Trading sold out of Grayscale Bitcoin Trust (GBTC) in Q4 2025, closing a stake of 2,714 shares — an estimated $213K sold.

Belvedere Trading first reported a position in GBTC in Q2 2025 and held it in 2 quarters. The position peaked at $244K in Q3 2025. 736 funds tracked by Wall St. Rank hold GBTC as of Q4 2025.

  • Belvedere Trading reported no remaining Grayscale Bitcoin Trust position as of Q4 2025 after selling out during the quarter.
  • Belvedere Trading sold 2,714 Grayscale Bitcoin Trust shares in Q4 2025, an estimated $213K.
  • Belvedere Trading first reported a position in Grayscale Bitcoin Trust in Q2 2025 and held it in 2 quarters.
  • Belvedere Trading's Grayscale Bitcoin Trust position peaked at $244K in Q3 2025.
  • 736 funds tracked by Wall St. Rank held Grayscale Bitcoin Trust as of Q4 2025.

Based on Belvedere Trading's 13F filing for Q4 2025, filed 10 Feb 2026.