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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
RMP
276
Richards, Merrill & Peterson
Washington
$909K +$182K +2,025 +25%
SJGA
277
Stephen J. Garry & Associates
New York
$908K
NRC
278
New Republic Capital
North Carolina
$901K
OA
279
Oxbow Advisors
Texas
$898K
S
280
SignatureFD
Georgia
$891K -$215K -2,386 -19%
WSFS
281
Wilmington Savings Fund Society
Delaware
$886K -$1.14M -12,700 -56%
CCA
282
Clearwater Capital Advisors
Illinois
$877K -$2.25K -25 -0.3%
DAS
283
Dynamic Advisor Solutions
Arizona
$876K +$375K +4,172 +75%
MHWM
284
Montz Harcus Wealth Management
Louisiana
$874K
HGA
285
Hobbs Group Advisors
South Carolina
$862K +$408K +4,532 +89%
UAG
286
United Advisor Group
Ohio
$854K
IA
287
Insight Advisors
Pennsylvania
$845K -$90 -1 -0%
CW
288
Channel Wealth
California
$841K
MMA
289
Miracle Mile Advisors
California
$836K +$185K +2,057 +28%
Wolverine Trading
290
Wolverine Trading
Illinois
$830K +$833K +9,252 New
SMC
291
Smith, Moore & Co
Missouri
$813K +$46.4K +516 +6%
CLOS
292
Compagnie Lombard Odier SCmA
Switzerland
$812K
LBC
293
Leigh Baldwin & Co
New York
$810K +$103K +1,150 +15%
GSEP
294
Golden State Equity Partners
California
$809K -$13.3K -148 -2%
SWP
295
Strategic Wealth Partners
Ohio
$793K +$191K +2,124 +32%
MWM
296
Mission Wealth Management
California
$791K
EH
297
Equitable Holdings
New York
$786K +$24.6K +273 +3%
VFA
298
Valeo Financial Advisors
Indiana
$785K -$1.35K -15 -0.2%
MFIM
299
Mesirow Financial Investment Management
Illinois
$782K
TCM
300
Traynor Capital Management
Pennsylvania
$775K +$777K +8,632 New