Grayscale Bitcoin Mini Trust ETF
465 hedge funds and large institutions have $910M invested in Grayscale Bitcoin Mini Trust ETF in 2026 Q2 according to their latest regulatory filings, with 48 funds opening new positions, 141 increasing their positions, 118 reducing their positions, and 66 closing their positions.
134% more call options, than puts
Call options by funds: $19.1M | Put options by funds: $8.18M
19% more repeat investments, than reductions
Existing positions increased: 141 | Existing positions reduced: 118
2.28% more ownership
Funds ownership: 26.95% → 29.24% (+2.3%)
5% less funds holding
Funds holding: 492 → 465 (-27)
6% less capital invested
Capital invested by funds: $970M → $910M (-$59.9M)
13% less funds holding in top 10
Funds holding in top 10: 8 → 7 (-1)
27% less first-time investments, than exits
New positions opened: 48 | Existing positions closed: 66
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$97.3M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$15.4M |
| 3 |
VCM
Verde Capital Management
Clarkston,
Michigan
|
+$9.9M |
| 4 |
PA
Paragon Advisors
College Station,
Texas
|
+$7.39M |
| 5 |
PEWA
Pacific Excel Wealth Advisors
Walnut Creek,
California
|
+$6.52M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SPIA
Steward Partners Investment Advisory
New York
|
-$26.8M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$26.6M |
| 3 |
Millennium Management
New York
|
-$18.3M |
| 4 |
BPA
Beacon Pointe Advisors
Newport Beach,
California
|
-$7.93M |
| 5 |
RA
Riversedge Advisors
Wilmington,
Delaware
|
-$7.25M |
BTC Hedge Fund Activity: Q2 2026 in Review
465 of the 8,345 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Mini Trust ETF (BTC) for Q2 2026, worth a combined $910M — down 6.2% from $970M a quarter earlier.
Sellers outnumbered buyers: 66 funds closed out of BTC and 48 opened new positions — a net loss of 18 holders — while 118 trimmed existing stakes and 141 added.
The largest buyer was Horizon Kinetics Asset Management, adding an estimated $97.3M. The largest seller was Steward Partners Investment Advisory, cutting an estimated $26.8M.
- 465 institutional investors held Grayscale Bitcoin Mini Trust ETF (BTC) as of Q2 2026, down from 492 in Q1 2026.
- Funds reported $910M of Grayscale Bitcoin Mini Trust ETF stock for Q2 2026, down 6.2% quarter-over-quarter.
- 48 funds opened new Grayscale Bitcoin Mini Trust ETF positions in Q2 2026 and 66 closed out, a net change of -18 holders.
- The largest Grayscale Bitcoin Mini Trust ETF buyer in Q2 2026 was Horizon Kinetics Asset Management, an estimated $97.3M added.
- The largest Grayscale Bitcoin Mini Trust ETF seller in Q2 2026 was Steward Partners Investment Advisory, an estimated $26.8M sold.
Based on aggregated 13F filings for Q2 2026.