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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
FHC
526
First Heartland Consultants
Missouri
$262K +$3.6K +40 +1%
HWM
527
Horizon Wealth Management
Illinois
$262K
KP
528
Keel Point
Alabama
$261K +$262K +2,912 New
FA
529
Fermata Advisors
California
$261K
OPCM
530
Osborne Partners Capital Management
California
$261K
EWM
531
Elevatus Welath Management
New York
$260K
GIM
532
Glenmede Investment Management
Pennsylvania
$260K
SF
533
SWP Financial
California
$260K
MAM
534
MWA Asset Management
Massachusetts
$258K +$11.2K +125 +5%
SVWAG
535
Sound View Wealth Advisors Group
Georgia
$258K +$258K +2,870 New
SG
536
StoneX Group
New York
$254K +$255K +2,835 New
BAM
537
Brave Asset Management
New Jersey
$254K
CFG
538
Citizens Financial Group
Rhode Island
$251K +$252K +2,797 New
BCA
539
Bay Colony Advisors
Massachusetts
$251K +$33.4K +371 +15%
HNB
540
Huntington National Bank
Ohio
$249K +$106K +1,175 +73%
GHAM
541
Gilman Hill Asset Management
Connecticut
$248K -$126K -1,397 -34%
CCM
542
Canal Capital Management
Virginia
$245K +$15.7K +174 +7%
HCM
543
Hengehold Capital Management
Ohio
$244K
Belvedere Trading
544
Belvedere Trading
Illinois
$244K +$114K +1,268 +88%
PFP
545
Paragon Financial Partners
California
$243K
KFP
546
KMG Fiduciary Partners
Ohio
$242K -$22.5K -250 -8%
CAMG
547
CWA Asset Management Group
Florida
$242K
SA
548
Strategic Advocates
Utah
$240K -$5.4K -60 -2%
TA
549
Tactive Advisors
Florida
$240K
SAM
550
Summit Asset Management
Tennessee
$239K -$5.4K -60 -2%