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Grayscale Bitcoin Trust
GBTC

Overview Fund Activity

745 hedge funds and large institutions have $2.94B invested in Grayscale Bitcoin Trust in 2025 Q2 according to their latest regulatory filings, with 107 funds opening new positions, 137 increasing their positions, 252 reducing their positions, and 47 closing their positions.

Holders
745
Holders Change
+43
Holders Change %
+6.13%
% of All Funds
10.01%
Holding in Top 10
22
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.3%
New
107
Increased
137
Reduced
252
Closed
47
Calls
$124M
Puts
$29.2M
Net Calls
+$94.9M
Net Calls Change
+$45.7M

Top Buyers

1
Jane Street
1
Jane Street
New York
$86.6M
2
IMC Chicago
2
IMC Chicago
Illinois
$30.8M
3
IC
3
IEQ Capital
California
$9.61M
4
Renaissance Technologies
4
Renaissance Technologies
New York
$6.79M
5
WMG
5
WESCAP Management Group
California
$6.19M

Top Sellers

1
DS
1
DRW Securities
Illinois
$2.06M
2
HKAM
2
Horizon Kinetics Asset Management
New York
$1.23B
3
JSSH
3
J. Safra Sarasin Holding
$0
4
TAA
4
TB Alternative Assets
Cayman Islands
$19.9M
5
AAS
5
Avantax Advisory Services
Texas
$1.46M
Name Market Value Shares Shares
Change 		Shares
Change %
SDH
26
Sloy Dahl & Holst
Washington
$11.5M 135,449 -17 -0%
Lido Advisors
27
Lido Advisors
California
$11.4M 134,358 -2,151 -2%
FA
28
Fiduciary Alliance
South Carolina
$10.9M 128,807 +17,504 +16%
FCG
29
Fielder Capital Group
Tennessee
$10.6M 125,287 -188 -0.1%
PPW
30
Pasadena Private Wealth
California
$10.6M 125,161 -7,424 -6%
FIA
31
Foundations Investment Advisors
Arizona
$10.6M 125,142 -19,314 -13%
KAS
32
Kestra Advisory Services
Texas
$10.6M 124,707 -24,904 -17%
BCM
33
Brookstone Capital Management
Illinois
$10.5M 124,216 -1,985 -2%
LCM
34
Lakewood Capital Management
New York
$10.5M 123,500 – –
SFA
35
Sequoia Financial Advisors
Ohio
$10.3M 121,538 -3,739 -3%
SH
36
SLT Holdings
Arizona
$10.1M 118,492 -19,346 -14%
IC
37
IEQ Capital
California
$9.61M 113,310 +90,675 +401%
BHIA
38
Birch Hill Investment Advisors
Massachusetts
$9.26M 109,150 -1,820 -2%
OCM
39
Once Capital Management
New York
$9.14M 107,700 – –
William Blair & Company
40
William Blair & Company
Illinois
$9.13M 107,600 -466 -0.4%
CC
41
Citrine Capital
California
$8.78M 103,505 -153 -0.1%
LFG
42
Larson Financial Group
Missouri
$8.71M 102,625 -49 -0%
IC
43
Iconiq Capital
California
$8.62M 101,575 +23,643 +30%
Millennium Management
44
Millennium Management
New York
$8.48M 100,000 – –
VPW
45
Variant Private Wealth
Virginia
$8.38M 98,809 -61 -0.1%
RDWM
46
Red Door Wealth Management
Tennessee
$8.29M 97,685 -156 -0.2%
Creative Planning
47
Creative Planning
Kansas
$8.16M 96,247 +7,844 +9%
Envestnet Asset Management
48
Envestnet Asset Management
Illinois
$7.86M 92,664 -6,827 -7%
TIA
49
Traphagen Investment Advisors
New Jersey
$7.85M 92,501 -485 -0.5%
CA
50
Claro Advisors
Massachusetts
$7.81M 92,107 -12,562 -12%
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