We are live on ! Find out more
BTC

Grayscale Bitcoin Mini Trust ETF
BTC

457 hedge funds and large institutions have $776M invested in Grayscale Bitcoin Mini Trust ETF in 2025 Q2 according to their latest regulatory filings, with 88 funds opening new positions, 131 increasing their positions, 71 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

233% more call options, than puts

Call options by funds: $29.9M | Put options by funds: $8.97M

203% more first-time investments, than exits

New positions opened: 88 | Existing positions closed: 29

85% more repeat investments, than reductions

Existing positions increased: 131 | Existing positions reduced: 71

62% more capital invested

Capital invested by funds: $478M → $776M (+$297M)

38% more funds holding in top 10

Funds holding in top 10: 8 → 11 (+3)

13% more funds holding

Funds holding: 403 → 457 (+54)

2.23% more ownership

Funds ownership: 14.27% → 16.5% (+2.2%)

Holders
457
Holders Change
+54
Holders Change %
+13.4%
% of All Funds
6.02%
Holding in Top 10
11
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+37.5%
% of All Funds
0.14%
New
88
Increased
131
Reduced
71
Closed
29
Calls
$29.9M
Puts
$8.97M
Net Calls
+$20.9M
Net Calls Change
+$13.3M

Top Buyers

Rank Fund Capital Flow
1
OCM
Ovata Capital Management
Hong Kong
+$24.8M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$12.3M
3
BHWA
Beacon Harbor Wealth Advisors
Virginia
+$10.4M
4
KC
Kaleidoscope Capital
Massachusetts
+$9.93M
5
HI
HBK Investments
Texas
+$9.9M

Top Sellers

Rank Fund Capital Flow
1
DS
DRW Securities
Illinois
-$4.62M
2
GEM
Global Endowment Management
North Carolina
-$1.44M
3
Jane Street
Jane Street
New York
-$914K
4
VF
Virtu Financial
New York
-$646K
5
G
Gainplan
Michigan
-$593K
Name Holding Trade Value Shares
Change 		Change in
Stake
SF
251
SageOak Financial
Oklahoma
$204K +$187K +4,277 New
RA
252
RFG Advisory
Alabama
$203K +$185K +4,242 New
IAS
253
Insigneo Advisory Services
Florida
$202K +$185K +4,229 New
TPWA
254
TRUE Private Wealth Advisors
Oregon
$202K +$185K +4,228 New
PAG
255
Private Advisor Group
New Jersey
$201K +$184K +4,212 New
PWM
256
Perigon Wealth Management
California
$201K +$184K +4,211 New
AWM
257
Angeles Wealth Management
California
$200K +$183K +4,196 New
ACM
258
Adalta Capital Management
New York
$191K +$175K +4,000 New
CWP
259
Concord Wealth Partners
Virginia
$179K +$24.9K +570 +18%
BA
260
Bellwether Advisors
Nebraska
$168K -$28K -640 -15%
Royal Bank of Canada
261
Royal Bank of Canada
Ontario, Canada
$162K -$59.5K -1,362 -29%
IA
262
IFP Advisors
Florida
$150K +$1.35K +31 +1%
BTI
263
Blue Trust Inc
Georgia
$150K – – –
HBT
264
Hills Bank & Trust
Iowa
$144K +$132K +3,016 New
CWM
265
Copia Wealth Management
Oregon
$140K -$6.29K -144 -5%
BWL
266
Bogart Wealth LLC
Virginia
$140K – – –
FMP
267
Financial Management Professionals
Texas
$139K -$77.4K -1,772 -38%
MYIA
268
Mount Yale Investment Advisors
Colorado
$139K +$127K +2,919 New
RIL
269
Rothschild Investment LLC
Illinois
$138K +$655 +15 +0.5%
WWM
270
Wolff Wiese Magana
California
$134K +$1.05K +24 +0.9%
WT
271
Whittier Trust
California
$127K +$96.8K +2,217 +508%
AV
272
Alamea Verwaltungs
New Jersey
$111K – – –
HCM
273
Horrell Capital Management
Arkansas
$101K -$44 -1 -0%
CA
274
Clearstead Advisors
Ohio
$100K +$1.4K +32 +2%
KGP
275
Keystone Global Partners
Colorado
$96.9K – – –
9 10
11
12 13

BTC Hedge Fund Activity: Q2 2025 in Review

457 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Mini Trust ETF (BTC) for Q2 2025, worth a combined $776M — up 62% from $478M a quarter earlier.

Buyers outnumbered sellers: 88 funds opened new BTC positions and 29 closed out — a net gain of 59 holders — while 131 added to existing stakes and 71 trimmed.

The largest buyer was Ovata Capital Management, opening a new position worth an estimated $24.8M. The largest seller was DRW Securities, exiting entirely with an estimated $4.62M sold.

  • 457 institutional investors held Grayscale Bitcoin Mini Trust ETF (BTC) as of Q2 2025, up from 403 in Q1 2025.
  • Funds reported $776M of Grayscale Bitcoin Mini Trust ETF stock for Q2 2025, up 62% quarter-over-quarter.
  • 88 funds opened new Grayscale Bitcoin Mini Trust ETF positions in Q2 2025 and 29 closed out, a net change of +59 holders.
  • The largest Grayscale Bitcoin Mini Trust ETF buyer in Q2 2025 was Ovata Capital Management, an estimated $24.8M added.
  • The largest Grayscale Bitcoin Mini Trust ETF seller in Q2 2025 was DRW Securities, an estimated $4.62M sold.

Based on aggregated 13F filings for Q2 2025.