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
2026
Q1 		$206K Sell
3,900
-8,900
-70% -$530K ﹤0.01% 419
2025
Q4 		$875K Hold
12,800
– – ﹤0.01% 204
2025
Q3 		$1.15M Hold
12,800
– – ﹤0.01% 162
2025
Q2 		$1.09M Hold
12,800
– – ﹤0.01% 132
2025
Q1 		$834K Sell
12,800
-400
-3% -$29.5K ﹤0.01% 147
2024
Q4 		$977K Buy
+13,200
New +$870K ﹤0.01% 165

Other funds holding GBTC

HKAM
Horizon Kinetics Asset Management New York $9.23B AUM 27.52% 1-Year Est. Return
LPL Financial
LPL Financial San Diego, California $377B AUM 19.32% 1-Year Est. Return
HighTower Advisors
HighTower Advisors Chicago, Illinois $94.2B AUM 21.24% 1-Year Est. Return
GWM
Greenwich Wealth Management Greenwich, Connecticut $2.45B AUM 39.53% 1-Year Est. Return
ML
MSRH LLC New York $113M AUM
Susquehanna International Group
Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return
MRI
Mad River Investors Boston, Massachusetts $278M AUM 32.21% 1-Year Est. Return
ECM
EagleClaw Capital Management Boston, Massachusetts $714M AUM 24.24% 1-Year Est. Return
Wealthfront Advisers
Wealthfront Advisers Palo Alto, California $45.6B AUM 18.83% 1-Year Est. Return
MC
Moors & Cabot Boston, Massachusetts $2.34B AUM 30.42% 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. 734 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.
  • 734 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.