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 %
PWM
301
PBMares Wealth Management
Virginia
$520K -$22.4K -343 -4%
CAS
302
Coppell Advisory Solutions
Texas
$519K -$7.45K -99 -1%
MCI
303
MRP Capital Investments
Georgia
$518K – – –
FCM
304
Firestone Capital Management
Florida
$518K -$83.7K -1,285 -14%
NEWAS
305
N.E.W. Advisory Services
Wisconsin
$516K – – –
CWS
306
Cypress Wealth Services
California
$516K – – –
CF
307
Cantor Fitzgerald
New York
$515K +$48.9K +750 +10%
JWCA
308
J.W. Cole Advisors
Florida
$514K +$75.5K +1,158 +17%
KFA
309
Kelleher Financial Advisors
New York
$512K – – –
VCWA
310
Vanguard Capital Wealth Advisors
Colorado
$512K +$512K +7,850 New
BHWM
311
Beaird Harris Wealth Management
Texas
$506K -$197K -3,018 -28%
AWM
312
Axxcess Wealth Management
California
$505K – – –
RWP
313
Revolve Wealth Partners
New Jersey
$503K – – –
BWM
314
Bulltick Wealth Management
Florida
$499K +$11.6K +178 +2%
LWP
315
LMG Wealth Partners
Louisiana
$496K +$496K +7,611 New
AWM
316
Able Wealth Management
New Jersey
$492K +$246K +3,774 +100%
SIAG
317
Safeguard Investment Advisory Group
California
$488K -$9.58K -147 -2%
HIS
318
Harvest Investment Services
Illinois
$486K +$160K +2,454 +49%
AA
319
Ancora Advisors
Ohio
$473K +$149K +2,293 +46%
PFA
320
Pettinga Financial Advisors
Indiana
$468K -$54.8K -841 -10%
HWM
321
HB Wealth Management
Georgia
$467K -$356K -5,459 -43%
SWA
322
Strategies Wealth Advisors
Michigan
$467K – – –
RW
323
RVW Wealth
California
$460K – – –
PCA
324
Prosperity Capital Advisors
Ohio
$455K -$10.9K -162 -2%
NCM
325
NCM Capital Management
New Jersey
$451K – – –
11 12
13
14 15