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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
Creative Planning
26
Creative Planning
Kansas
$12.1M +$3.51M +38,955 +40%
SDH
27
Sloy Dahl & Holst
Washington
$12.1M -$63.1K -701 -0.5%
FA
28
Fiduciary Alliance
South Carolina
$11.7M +$110K +1,225 +1%
FIA
29
Foundations Investment Advisors
Arizona
$11.6M +$404K +4,490 +4%
JF
30
Jump Financial
Illinois
$11.6M +$11.6M +129,212 New
LCM
31
Lakewood Capital Management
New York
$11.1M
SH
32
SLT Holdings
Arizona
$11M +$370K +4,110 +3%
BCM
33
Brookstone Capital Management
Illinois
$10.9M -$241K -2,673 -2%
PPW
34
Pasadena Private Wealth
California
$10.9M -$342K -3,799 -3%
FCG
35
Fielder Capital Group
Tennessee
$10.8M -$434K -4,821 -4%
SFA
36
Sequoia Financial Advisors
Ohio
$10.8M -$129K -1,437 -1%
IC
37
IEQ Capital
California
$10.2M -$18.4K -204 -0.2%
OCM
38
Once Capital Management
New York
$9.67M
William Blair & Company
39
William Blair & Company
Illinois
$9.66M -$3.87K -43 -0%
CC
40
Citrine Capital
California
$9.27M -$25.3K -281 -0.3%
BHIA
41
Birch Hill Investment Advisors
Massachusetts
$9.23M -$567K -6,300 -6%
IC
42
Iconiq Capital
California
$9.12M
KAS
43
Kestra Advisory Services
Texas
$9.11M -$2.09M -23,271 -19%
Millennium Management
44
Millennium Management
New York
$8.98M
LFG
45
Larson Financial Group
Missouri
$8.93M -$280K -3,110 -3%
VPW
46
Variant Private Wealth
Virginia
$8.75M -$119K -1,323 -1%
RDWM
47
Red Door Wealth Management
Tennessee
$8.74M -$33.6K -373 -0.4%
Envestnet Asset Management
48
Envestnet Asset Management
Illinois
$8.61M +$289K +3,209 +3%
Raymond James Financial
49
Raymond James Financial
Florida
$8.39M +$1.85M +20,597 +28%
CA
50
Claro Advisors
Massachusetts
$8.12M -$149K -1,653 -2%