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Grayscale Bitcoin Trust
GBTC

660 hedge funds and large institutions have $2.66B invested in Grayscale Bitcoin Trust in 2024 Q2 according to their latest regulatory filings, with 123 funds opening new positions, 125 increasing their positions, 220 reducing their positions, and 96 closing their positions.

New
Increased
Maintained
Reduced
Closed

28% more first-time investments, than exits

New positions opened: 123 | Existing positions closed: 96

2% more funds holding

Funds holding: 647 → 660 (+13)

1.86% less ownership

Funds ownership: 19.7% → 17.85% (-1.9%)

29% less funds holding in top 10

Funds holding in top 10: 28 → 20 (-8)

38% less capital invested

Capital invested by funds: $4.3B → $2.66B (-$1.65B)

43% less repeat investments, than reductions

Existing positions increased: 125 | Existing positions reduced: 220

Holders
660
Holders Change
+13
Holders Change %
+2.01%
% of All Funds
9.53%
Holding in Top 10
20
Holding in Top 10 Change
-8
Holding in Top 10 Change %
-28.57%
% of All Funds
0.29%
New
123
Increased
125
Reduced
220
Closed
96
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Goldman Sachs
Goldman Sachs
New York
+$38.5M
2
Wealthfront Advisers
Wealthfront Advisers
California
+$31M
3
BFA
Beaumont Financial Advisors
Massachusetts
+$21.2M
4
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$15.1M
5
FTUS
Flow Traders U.S.
New York
+$10.7M

Top Sellers

1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$423M
2
Morgan Stanley
Morgan Stanley
New York
-$249M
3
Millennium Management
Millennium Management
New York
-$96.6M
4
Jane Street
Jane Street
New York
-$90.2M
5
FCM
Farallon Capital Management
California
-$85.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
VAMG
651
Voisard Asset Management Group
Michigan
$906 – – –
CT
652
Colonial Trust
South Carolina
$532 – – –
LTI
653
Laffer Tengler Investments
Tennessee
$532 – – –
MFT
654
Moisand Fitzgerald Tamayo
Florida
$267 – – –
NRG
655
Nemes Rush Group
Michigan
$106 -$9.06K -172 -99%
AIA
656
Arcadia Investment Advisors
Idaho
$54 – – –
PWMG
657
Prestige Wealth Management Group
New Jersey
$54 – – –
FCM
658
Farallon Capital Management
California
– -$85.2M -1,493,428 Closed
State of Wisconsin Investment Board
659
State of Wisconsin Investment Board
Wisconsin
– -$63.7M -1,121,391 Closed
BCL
660
Bracebridge Capital LLC
Massachusetts
– -$26.5M -464,840 Closed
HI
661
HBK Investments
Texas
– -$14.7M -258,138 Closed
SC
662
Sculptor Capital
New York
– -$11.7M -204,700 Closed
Wolverine Trading
663
Wolverine Trading
Illinois
– -$6.57M -115,066 Closed
Renaissance Technologies
664
Renaissance Technologies
New York
– -$6M -105,054 Closed
AA
665
AlphaQ Advisors
Florida
– -$4.91M -85,961 Closed
MTIM
666
Marathon Trading Investment Management
Pennsylvania
– -$3.16M -55,350 Closed
PFG
667
Prosperity Financial Group
California
– -$2.89M -50,626 Closed
NL
668
NWAM LLC
Washington
– -$1.45M -25,472 Closed
MWM
669
Meridian Wealth Management
Kentucky
– -$1.45M -25,338 Closed
CIM
670
Chiron Investment Management
New York
– -$1.36M -23,917 Closed
SCA
671
Sassicaia Capital Advisers
New York
– -$1.11M -19,483 Closed
Edgewood Management
672
Edgewood Management
Connecticut
– -$948K -16,605 Closed
MCC
673
Malaga Cove Capital
California
– -$942K -16,510 Closed
OFS
674
OneAscent Financial Services
Alabama
– -$897K -15,721 Closed
JWWM
675
Johnson & White Wealth Management
Pennsylvania
– -$620K -10,860 Closed
25 26
27
28 29

GBTC Hedge Fund Activity: Q2 2024 in Review

660 of the 6,924 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Trust (GBTC) for Q2 2024, worth a combined $2.66B — down 38% from $4.3B a quarter earlier.

Buyers outnumbered sellers: 123 funds opened new GBTC positions and 96 closed out — a net gain of 27 holders — while 125 added to existing stakes and 220 trimmed.

The largest buyer was Goldman Sachs, opening a new position worth an estimated $38.5M. The largest seller was Susquehanna International Group, cutting an estimated $423M.

  • 660 institutional investors held Grayscale Bitcoin Trust (GBTC) as of Q2 2024, up from 647 in Q1 2024.
  • Funds reported $2.66B of Grayscale Bitcoin Trust stock for Q2 2024, down 38% quarter-over-quarter.
  • 123 funds opened new Grayscale Bitcoin Trust positions in Q2 2024 and 96 closed out, a net change of +27 holders.
  • The largest Grayscale Bitcoin Trust buyer in Q2 2024 was Goldman Sachs, an estimated $38.5M added.
  • The largest Grayscale Bitcoin Trust seller in Q2 2024 was Susquehanna International Group, an estimated $423M sold.

Based on aggregated 13F filings for Q2 2024.