GBTC icon

Grayscale Bitcoin Trust
GBTC

Overview Fund Activity

701 hedge funds and large institutions have $2.23B invested in Grayscale Bitcoin Trust in 2025 Q1 according to their latest regulatory filings, with 51 funds opening new positions, 171 increasing their positions, 240 reducing their positions, and 80 closing their positions.

New
Increased
Maintained
Reduced
Closed
Holders
701
Holders Change
-47
Holders Change %
-6.28%
% of All Funds
9.52%
Holding in Top 10
22
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-4.35%
% of All Funds
0.3%
New
51
Increased
171
Reduced
240
Closed
80
Calls
$77.1M
Puts
$27.8M
Net Calls
+$49.3M
Net Calls Change
-$16.6M

Top Buyers

1
DS
DRW Securities
Illinois
+$21.6M
2
TAA
TB Alternative Assets
Cayman Islands
+$17.1M
3
Jane Street
Jane Street
New York
+$7.65M
4
IMC Chicago
IMC Chicago
Illinois
+$6.96M
5
SCM
SCS Capital Management
Massachusetts
+$4.95M

Top Sellers

1
HKAM
Horizon Kinetics Asset Management
New York
-$30.7M
2
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
-$16.4M
3
FTUS
Flow Traders U.S.
New York
-$11.1M
4
DCM
Discovery Capital Management
Connecticut
-$7.95M
5
OMC
Old Mission Capital
Illinois
-$5.56M
Name Holding Trade Value Shares
Change 		Shares
Change %
WAAG
226
Wealth Alliance Advisory Group
Kansas
$831K – – –
CPIG
227
Chicago Partners Investment Group
Illinois
$830K +$155K +2,041 +23%
AGC
228
Aspen Grove Capital
Colorado
$825K – – –
S
229
SignatureFD
Georgia
$803K -$523K -8,033 -39%
MWM
230
Modern Wealth Management
Kansas
$802K +$13.7K +210 +2%
FFG
231
Fiduciary Financial Group
California
$796K +$11.1K +177 +1%
PL
232
Plancorp LLC
Missouri
$793K – – –
DA
233
Doliver Advisors
Texas
$793K +$130 +2 +0%
TCA
234
Transcend Capital Advisors
New Jersey
$793K +$27.7K +425 +4%
PPA
235
Pilgrim Partners Asia
Singapore
$791K +$214K +3,280 +37%
RCA
236
Runnymede Capital Advisors
Ohio
$788K +$521 +8 +0.1%
EFS
237
Essex Financial Services
Connecticut
$781K -$31.3K -480 -4%
DWM
238
Dakota Wealth Management
Florida
$778K -$130K -2,000 -14%
PGFC
239
Peapack-Gladstone Financial Corp
New Jersey
$775K +$14K +215 +2%
MPCG
240
Matrix Private Capital Group
New York
$768K – – –
AL
241
ACAS LLC
California
$764K +$161K +2,106 +27%
NP
242
NorthRock Partners
Minnesota
$763K +$25K +383 +3%
SC
243
Savant Capital
Illinois
$758K -$40.9K -628 -5%
HCM
244
Howland Capital Management
Massachusetts
$756K – – –
AA
245
Armis Advisers
Georgia
$756K +$756K +10,177 New
EFG
246
Embree Financial Group
Illinois
$746K -$3.91K -60 -0.5%
HSA
247
HBK Sorce Advisory
Pennsylvania
$745K -$2.67K -41 -0.4%
BWA
248
Beam Wealth Advisors
Louisiana
$731K -$111K -1,709 -13%
RWM
249
Ritholtz Wealth Management
New York
$729K -$782 -12 -0.1%
SDWMA
250
Schneider Downs Wealth Management Advisors
Pennsylvania
$729K – – –
8 9
10
11 12