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Grayscale Bitcoin Trust
GBTC

647 hedge funds and large institutions have $4.3B invested in Grayscale Bitcoin Trust in 2024 Q1 according to their latest regulatory filings, with 647 funds opening new positions, increasing their positions, reducing their positions, and closing their positions.

New
Increased
Maintained
Reduced
Closed

19.7% more ownership

Funds ownership: 0% → 19.7% (+20%)

Holders
647
Holders Change
+647
Holders Change %
–
% of All Funds
9.32%
Holding in Top 10
28
Holding in Top 10 Change
+28
Holding in Top 10 Change %
% of All Funds
0.4%
New
647
Increased
–
Reduced
–
Closed
–
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$841M
2
HKAM
Horizon Kinetics Asset Management
New York
+$729M
3
Morgan Stanley
Morgan Stanley
New York
+$208M
4
Millennium Management
Millennium Management
New York
+$156M
5
Jane Street
Jane Street
New York
+$90.5M

Top Sellers

No sellers this quarter
Name Holding Trade Value Shares
Change 		Change in
Stake
PFBT
451
Parkside Financial Bank & Trust
Missouri
$242K +$187K +4,245 New
GPA
452
Guidance Point Advisors
Massachusetts
$239K +$184K +4,192 New
FSA
453
Financial Security Advisor
Virginia
$239K +$184K +4,181 New
HWM
454
Horizon Wealth Management
Illinois
$238K +$184K +4,176 New
IAIM
455
International Assets Investment Management
Florida
$238K +$187K +4,240 New
LP
456
LGL Partners
Pennsylvania
$237K +$183K +4,148 New
ML
457
McAdam LLC
Pennsylvania
$236K +$182K +4,131 New
KeyBank National Association
458
KeyBank National Association
Ohio
$235K +$181K +4,121 New
W
459
WorthPointe
California
$235K +$181K +4,120 New
SAF
460
Smith Anglin Financial
Texas
$235K +$181K +4,119 New
AO
461
Advisor OS
Illinois
$233K +$180K +4,091 New
SI
462
Stephens Inc
Arkansas
$231K +$178K +4,044 New
BAM
463
Brave Asset Management
New Jersey
$230K +$177K +4,033 New
SAM
464
SP Asset Management
California
$230K +$177K +4,029 New
FAIM
465
Financial Advocates Investment Management
Washington
$229K +$176K +4,007 New
DCM
466
Dudley Capital Management
Virginia
$227K +$178K +4,037 New
SMH
467
Sanders Morris Harris
Texas
$225K +$174K +3,949 New
TIM
468
Total Investment Management
Arizona
$225K +$174K +3,949 New
HH
469
Hilltop Holdings
Texas
$225K +$173K +3,942 New
FCH
470
Freestone Capital Holdings
Washington
$225K +$173K +3,935 New
TC
471
TAP Consulting
Missouri
$224K +$173K +3,930 New
AAP
472
Arax Advisory Partners
Colorado
$224K +$173K +3,924 New
SL
473
Sentry LLC
Tennessee
$223K +$172K +3,909 New
OC
474
Oarsman Capital
Wisconsin
$223K +$172K +3,900 New
KC
475
Kingfisher Capital
North Carolina
$221K +$171K +3,876 New
17 18
19
20 21

GBTC Hedge Fund Activity: Q1 2024 in Review

647 of the 6,943 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Trust (GBTC) for Q1 2024, worth a combined $4.3B.

Buyers outnumbered sellers: 647 funds opened new GBTC positions and 0 closed out — a net gain of 647 holders — while 0 added to existing stakes and 0 trimmed.

The largest buyer was Susquehanna International Group, opening a new position worth an estimated $841M.

  • 647 institutional investors held Grayscale Bitcoin Trust (GBTC) as of Q1 2024, up from 0 in Q4 2023.
  • Funds reported $4.3B of Grayscale Bitcoin Trust stock for Q1 2024.
  • 647 funds opened new Grayscale Bitcoin Trust positions in Q1 2024 and 0 closed out, a net change of +647 holders.
  • The largest Grayscale Bitcoin Trust buyer in Q1 2024 was Susquehanna International Group, an estimated $841M added.

Based on aggregated 13F filings for Q1 2024.