Grayscale Bitcoin Trust
GBTC
617 hedge funds and large institutions have $1.81B invested in Grayscale Bitcoin Trust in 2024 Q3 according to their latest regulatory filings, with 44 funds opening new positions, 69 increasing their positions, 502 reducing their positions, and 77 closing their positions.
4.61% less ownership
Funds ownership: 17.85% → 13.24% (-4.6%)
7% less funds holding
Funds holding: 660 → 617 (-43)
20% less funds holding in top 10
Funds holding in top 10: 20 → 16 (-4)
32% less capital invested
Capital invested by funds: $2.66B → $1.81B (-$844M)
43% less first-time investments, than exits
New positions opened: 44 | Existing positions closed: 77
86% less repeat investments, than reductions
Existing positions increased: 69 | Existing positions reduced: 502
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$33.7M |
| 2 |
GWM
Greenwich Wealth Management
Greenwich,
Connecticut
|
+$23.4M |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$10.8M |
| 4 |
IAIM
International Assets Investment Management
Orlando,
Florida
|
+$9.21M |
| 5 |
AWP
Atlas Wealth Partners
Wyomissing,
Pennsylvania
|
+$7.49M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$538M |
| 2 |
Millennium Management
New York
|
-$78.2M |
| 3 |
HKAM
Horizon Kinetics Asset Management
New York
|
-$63.5M |
| 4 |
BFM
Boothbay Fund Management
New York
|
-$46.6M |
| 5 |
DCM
Discovery Capital Management
South Norwalk,
Connecticut
|
-$32.1M |
GBTC Hedge Fund Activity: Q3 2024 in Review
617 of the 6,964 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Trust (GBTC) for Q3 2024, worth a combined $1.81B — down 32% from $2.66B a quarter earlier.
Sellers outnumbered buyers: 77 funds closed out of GBTC and 44 opened new positions — a net loss of 33 holders — while 502 trimmed existing stakes and 69 added.
The largest buyer was Goldman Sachs, adding an estimated $33.7M. The largest seller was Susquehanna International Group, cutting an estimated $538M.
- 617 institutional investors held Grayscale Bitcoin Trust (GBTC) as of Q3 2024, down from 660 in Q2 2024.
- Funds reported $1.81B of Grayscale Bitcoin Trust stock for Q3 2024, down 32% quarter-over-quarter.
- 44 funds opened new Grayscale Bitcoin Trust positions in Q3 2024 and 77 closed out, a net change of -33 holders.
- The largest Grayscale Bitcoin Trust buyer in Q3 2024 was Goldman Sachs, an estimated $33.7M added.
- The largest Grayscale Bitcoin Trust seller in Q3 2024 was Susquehanna International Group, an estimated $538M sold.
Based on aggregated 13F filings for Q3 2024.