Grayscale Bitcoin Trust
GBTC
GBTC
734 hedge funds and large institutions have $2.24B invested in Grayscale Bitcoin Trust in 2025 Q4 according to their latest regulatory filings, with 89 funds opening new positions, 162 increasing their positions, 234 reducing their positions, and 118 closing their positions.
New
Increased
Maintained
Reduced
Closed
more call options, than puts
Call options by funds: $ | Put options by funds: $
less ownership
Funds ownership: →
less funds holding
Funds holding: →
less first-time investments, than exits
New positions opened: | Existing positions closed:
25% less funds holding in top 10
Funds holding in top 10: 20 → 15 (-5)
25% less capital invested
Capital invested by funds: $3.01B → $2.24B (-$764M)
31% less repeat investments, than reductions
Existing positions increased: 162 | Existing positions reduced: 234
Holders
734
Holding in Top 10
15
Calls
$231M
Puts
$42.5M
Top Buyers
| 1 | +$28.6M | |
| 2 | +$16.8M | |
| 3 | +$10.4M | |
| 4 |
Renaissance Technologies
New York
|
+$6.89M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$6.57M |
Top Sellers
| 1 | -$79.9M | |
| 2 | -$17.4M | |
| 3 | -$16.3M | |
| 4 |
JF
Jump Financial
Chicago,
Illinois
|
-$11.6M |
| 5 |
TAA
TB Alternative Assets
Grand Cayman,
Cayman Islands
|
-$7.69M |
