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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
BCM
626
Boreal Capital Management
Florida
$134K -$215K -2,387 -62%
NWM
627
Nova Wealth Management
Florida
$130K
VNA
628
Valley National Advisers
Pennsylvania
$130K
SWIM
629
Smallwood Wealth Investment Management
New Jersey
$128K
JGIA
630
Jackson Grant Investment Advisers
Connecticut
$125K
ME
631
McIlrath & Eck
Washington
$121K +$9.36K +104 +8%
QC
632
Quent Capital
New York
$119K +$120K +1,331 New
EDRH
633
Edmond de Rothschild Holding
Switzerland
$117K
PIS
634
POM Investment Strategies
North Carolina
$111K
KFP
635
Kerr Financial Planning
California
$110K +$134K +1,490 New
JFG
636
JDM Financial Group
Texas
$106K
IRAG
637
Investment Research & Advisory Group
Georgia
$106K +$95.6K +1,062 +501%
GSWM
638
Golden State Wealth Management
California
$106K
TF
639
Tompkins Financial
New York
$102K
HI
640
Harbour Investments
Wisconsin
$95.8K +$64.1K +712 +201%
MIM
641
MTM Investment Management
South Carolina
$94.2K
DF
642
Dunhill Financial
United Kingdom
$90.3K
AP
643
Atwood & Palmer
Missouri
$88.5K
OWP
644
ORG Wealth Partners
Texas
$88.4K
MCM
645
Manchester Capital Management
Vermont
$88K
CAM
646
Creekmur Asset Management
Illinois
$87.8K -$18K -200 -17%
BBHC
647
Brown Brothers Harriman & Co
New York
$87.2K
AF
648
Advisornet Financial
Minnesota
$85.3K
BL
649
BFSG LLC
California
$81.7K
EWA
650
EverSource Wealth Advisors
Alabama
$79.9K -$10.8K -120 -12%