We are live on ! Find out more
BTC

Grayscale Bitcoin Mini Trust ETF
BTC

403 hedge funds and large institutions have $478M invested in Grayscale Bitcoin Mini Trust ETF in 2025 Q1 according to their latest regulatory filings, with 81 funds opening new positions, 111 increasing their positions, 69 reducing their positions, and 45 closing their positions.

New
Increased
Maintained
Reduced
Closed

104% more call options, than puts

Call options by funds: $15M | Put options by funds: $7.37M

80% more first-time investments, than exits

New positions opened: 81 | Existing positions closed: 45

61% more repeat investments, than reductions

Existing positions increased: 111 | Existing positions reduced: 69

7% more funds holding

Funds holding: 377 → 403 (+26)

0% more funds holding in top 10

Funds holding in top 10: 8 → 8 (0)

1.73% less ownership

Funds ownership: 16% → 14.27% (-1.7%)

17% less capital invested

Capital invested by funds: $579M → $478M (-$101M)

Holders
403
Holders Change
+26
Holders Change %
+6.9%
% of All Funds
5.4%
Holding in Top 10
8
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.11%
New
81
Increased
111
Reduced
69
Closed
45
Calls
$15M
Puts
$7.37M
Net Calls
+$7.64M
Net Calls Change
+$3.65M

Top Buyers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
+$42.3M
2
TI
Tidal Investments
Wisconsin
+$11.9M
3
HWM
HFG Wealth Management
Texas
+$7.4M
4
KC
Kaleidoscope Capital
Massachusetts
+$6.28M
5
RWP
Reliant Wealth Planning
Kentucky
+$6.27M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$111M
2
IMC Chicago
IMC Chicago
Illinois
-$17.2M
3
HHGC
Hunting Hill Global Capital
New York
-$5.41M
4
JAM
JW Asset Management
Florida
-$4.48M
5
SAM
Simplify Asset Management
Nevada
-$4.16M
Name Holding Trade Value Shares
Change 		Change in
Stake
Jones Financial Companies
351
Jones Financial Companies
Missouri
$1.67K +$1.86K +45 New
MPWT
352
MassMutual Private Wealth & Trust
Connecticut
$1.64K – – –
NL
353
NVWM LLC
Pennsylvania
$1.64K – – –
GIA
354
GHP Investment Advisors
Colorado
$1.5K – – –
AT
355
Arlington Trust
Alabama
$1.46K +$1.65K +40 New
BlackRock
356
BlackRock
New York
$1.46K +$1.65K +40 New
RAM
357
Riggs Asset Management
Pennsylvania
$1.46K +$1.65K +40 New
OP
358
ORG Partners
Indiana
$1.43K -$1.4K -34 -47%
EWA
359
EverSource Wealth Advisors
Alabama
$1.39K -$13.6K -330 -90%
KA
360
Kozak & Associates
Colorado
$1.36K – – –
ACA
361
Atlas Capital Advisors
Wyoming
$1.35K – – –
BWAM
362
Boyd Watterson Asset Management
Ohio
$1.31K – – –
AEPWM
363
Atlantic Edge Private Wealth Management
Florida
$1.17K – – –
AIC
364
Archer Investment Corporation
Indiana
$1.17K +$1.32K +32 New
MWA
365
Medallion Wealth Advisors
Connecticut
$1.13K – – –
VCM
366
Versant Capital Management
Arizona
$1.09K – – –
OWP
367
ORG Wealth Partners
Texas
$1.02K +$1.11K +27 New
CAL
368
Capital Analysts LLC
Pennsylvania
$1K – – –
CFP
369
Comprehensive Financial Planning
Pennsylvania
$912 – – –
VFM
370
Vision Financial Markets
Connecticut
$912 +$1.03K +25 New
AAG
371
Armstrong Advisory Group
Massachusetts
$838 – – –
GFPC
372
Global Financial Private Client
Florida
$803 – – –
VWM
373
Valley Wealth Managers
New Jersey
$803 – – –
DCM
374
Davis Capital Management
Florida
$766 – – –
BC
375
Barrett & Company
Rhode Island
$730 – – –
13 14
15
16 17

BTC Hedge Fund Activity: Q1 2025 in Review

403 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Mini Trust ETF (BTC) for Q1 2025, worth a combined $478M — down 17% from $579M a quarter earlier.

Buyers outnumbered sellers: 81 funds opened new BTC positions and 45 closed out — a net gain of 36 holders — while 111 added to existing stakes and 69 trimmed.

The largest buyer was Millennium Management, adding an estimated $42.3M. The largest seller was Jane Street, cutting an estimated $111M.

  • 403 institutional investors held Grayscale Bitcoin Mini Trust ETF (BTC) as of Q1 2025, up from 377 in Q4 2024.
  • Funds reported $478M of Grayscale Bitcoin Mini Trust ETF stock for Q1 2025, down 17% quarter-over-quarter.
  • 81 funds opened new Grayscale Bitcoin Mini Trust ETF positions in Q1 2025 and 45 closed out, a net change of +36 holders.
  • The largest Grayscale Bitcoin Mini Trust ETF buyer in Q1 2025 was Millennium Management, an estimated $42.3M added.
  • The largest Grayscale Bitcoin Mini Trust ETF seller in Q1 2025 was Jane Street, an estimated $111M sold.

Based on aggregated 13F filings for Q1 2025.