Grayscale Bitcoin Mini Trust ETF
487 hedge funds and large institutions have $833M invested in Grayscale Bitcoin Mini Trust ETF in 2026 Q1 according to their latest regulatory filings, with 62 funds opening new positions, 169 increasing their positions, 99 reducing their positions, and 77 closing their positions.
134% more call options, than puts
Call options by funds: $25M | Put options by funds: $10.7M
71% more repeat investments, than reductions
Existing positions increased: 169 | Existing positions reduced: 99
5% less funds holding
Funds holding: 512 → 487 (-25)
13% less capital invested
Capital invested by funds: $957M → $833M (-$124M)
19% less first-time investments, than exits
New positions opened: 62 | Existing positions closed: 77
42% less funds holding in top 10
Funds holding in top 10: 12 → 7 (-5)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
+$29M |
| 2 |
Morgan Stanley
New York
|
+$23.9M |
| 3 |
Wells Fargo
San Francisco,
California
|
+$20.5M |
| 4 |
OCM
Ovata Capital Management
Hong Kong
|
+$19.2M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$17.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$78.9M |
| 2 |
Jane Street
New York
|
-$41.5M |
| 3 |
MCM
Multicoin Capital Management
Austin,
Texas
|
-$10.2M |
| 4 |
DS
DRW Securities
Chicago,
Illinois
|
-$3.78M |
| 5 |
Renaissance Technologies
New York
|
-$3.19M |
BTC Hedge Fund Activity: Q1 2026 in Review
487 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Mini Trust ETF (BTC) for Q1 2026, worth a combined $833M — down 13% from $957M a quarter earlier.
Sellers outnumbered buyers: 77 funds closed out of BTC and 62 opened new positions — a net loss of 15 holders — while 99 trimmed existing stakes and 169 added.
The largest buyer was Tidal Investments, adding an estimated $29M. The largest seller was Millennium Management, cutting an estimated $78.9M.
- 487 institutional investors held Grayscale Bitcoin Mini Trust ETF (BTC) as of Q1 2026, down from 512 in Q4 2025.
- Funds reported $833M of Grayscale Bitcoin Mini Trust ETF stock for Q1 2026, down 13% quarter-over-quarter.
- 62 funds opened new Grayscale Bitcoin Mini Trust ETF positions in Q1 2026 and 77 closed out, a net change of -15 holders.
- The largest Grayscale Bitcoin Mini Trust ETF buyer in Q1 2026 was Tidal Investments, an estimated $29M added.
- The largest Grayscale Bitcoin Mini Trust ETF seller in Q1 2026 was Millennium Management, an estimated $78.9M sold.
Based on aggregated 13F filings for Q1 2026.