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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
BWM
676
BCS Wealth Management
Tennessee
– -$581K -10,180 Closed
WQ
677
Wealth Quarterback
New Jersey
– -$528K -9,247 Closed
TSS
678
Two Sigma Securities
New York
– -$493K -8,636 Closed
EWM
679
Executive Wealth Management
Michigan
– -$481K -8,562 Closed
SC
680
Scotia Capital
Ontario, Canada
– -$486K -8,525 Closed
EWA
681
Exencial Wealth Advisors
Oklahoma
– -$470K -8,232 Closed
Bank of New York Mellon
682
Bank of New York Mellon
New York
– -$449K -7,869 Closed
GKWIM
683
Gerber Kawasaki Wealth & Investment Management
California
– -$408K -7,150 Closed
VCM
684
Virtue Capital Management
Tennessee
– -$395K -7,073 Closed
CAAM
685
Cornerstone Advisors Asset Management
Pennsylvania
– -$395K -6,919 Closed
CAM
686
Concorde Asset Management
Michigan
– -$385K -6,755 Closed
SSWM
687
Strait & Sound Wealth Management
California
– -$380K -6,697 Closed
SCP
688
Sandhill Capital Partners
New York
– -$352K -6,167 Closed
DFG
689
Delta Financial Group
New Jersey
– -$339K -5,934 Closed
WAM
690
Wallington Asset Management
Indiana
– -$336K -5,895 Closed
PIA
691
Perennial Investment Advisors
California
– -$312K -5,473 Closed
NAMNJ
692
NorthStar Asset Management (New Jersey)
New Jersey
– -$287K -5,027 Closed
GC
693
GFG Capital
Florida
– -$284K -4,982 Closed
CFS
694
Coordinated Financial Services
Colorado
– -$278K -4,871 Closed
SF
695
Summit Financial
New Jersey
– -$277K -4,855 Closed
TS
696
Tamar Securities
California
– -$272K -4,762 Closed
BWA
697
BlueChip Wealth Advisors
Georgia
– -$268K -4,705 Closed
LFA
698
Level Financial Advisors
New York
– -$255K -4,473 Closed
AWM
699
Alterna Wealth Management
Texas
– -$252K -4,408 Closed
TWP
700
Total Wealth Planning
Ohio
– -$250K -4,378 Closed
26 27
28
29 30

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.