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Grayscale Bitcoin Trust

782 hedge funds and large institutions have $3.01B invested in Grayscale Bitcoin Trust in 2025 Q3 according to their latest regulatory filings, with 81 funds opening new positions, 168 increasing their positions, 233 reducing their positions, and 44 closing their positions.

New
Increased
Maintained
Reduced
Closed

263% more call options, than puts

Call options by funds: $209M | Put options by funds: $57.7M

84% more first-time investments, than exits

New positions opened: 81 | Existing positions closed: 44

3% more funds holding

Funds holding: 762782 (+20)

1% more capital invested

Capital invested by funds: $2.98B → $3.01B (+$33.4M)

0.3% less ownership

Funds ownership: 6.87%6.57% (-0.3%)

9% less funds holding in top 10

Funds holding in top 10: 2220 (-2)

28% less repeat investments, than reductions

Existing positions increased: 168 | Existing positions reduced: 233

Holders
782
Holders Change
+20
Holders Change %
+2.62%
% of All Funds
10.26%
Holding in Top 10
20
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-9.09%
% of All Funds
0.26%
New
81
Increased
168
Reduced
233
Closed
44
Calls
$209M
Puts
$57.7M
Net Calls
+$152M
Net Calls Change
+$34.3M
Name Holding Trade Value Shares
Change
Change in
Stake
PA
226
Pinnacle Associates
New York
$1.21M -$81.7K -908 -6%
MA
227
Montag & Associates
Georgia
$1.21M +$1.26K +14 +0.1%
SW
228
SteelPeak Wealth
California
$1.2M +$6.57K +73 +0.6%
AAP
229
Arax Advisory Partners
Colorado
$1.19M +$649K +7,213 +118%
FH
230
FWG Holdings
Florida
$1.19M -$4.86K -54 -0.4%
DAM
231
Deltec Asset Management
New York
$1.19M
MWM
232
Modern Wealth Management
Kansas
$1.19M -$7.02K -78 -0.6%
BlackRock
233
BlackRock
New York
$1.19M -$18K -200 -1%
GCM
234
Gables Capital Management
Florida
$1.17M
VF
235
Vista Finance
Missouri
$1.17M +$90 +1 +0%
NL
236
NVWM LLC
Pennsylvania
$1.15M -$7.29K -81 -0.6%
WAAG
237
Wealth Alliance Advisory Group
Kansas
$1.14M
AGC
238
Aspen Grove Capital
Colorado
$1.14M
RCA
239
Runnymede Capital Advisors
Ohio
$1.13M +$12.6K +140 +1%
PI
240
PFG Investments
New York
$1.13M +$30.1K +334 +3%
Carson Wealth (CWM LLC)
241
Carson Wealth (CWM LLC)
Nebraska
$1.13M +$612K +6,802 +118%
NPT
242
National Philanthropic Trust
Pennsylvania
$1.11M
CPIG
243
Chicago Partners Investment Group
Illinois
$1.11M +$52.2K +580 +5%
SFG
244
SevenBridge Financial Group
Pennsylvania
$1.1M -$450K -5,000 -27%
FAM
245
Formidable Asset Management
Ohio
$1.09M -$110K -1,225 -9%
DA
246
Doliver Advisors
Texas
$1.09M
AAS
247
Ameritas Advisory Services
Nebraska
$1.07M +$276K +3,062 +35%
DWM
248
Dakota Wealth Management
Florida
$1.07M
EFA
249
Edge Financial Advisors
Illinois
$1.06M -$39.2K -436 -4%
P
250
&Partners
Tennessee
$1.06M -$160K -1,774 -13%