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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
10.27%
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
TFA
676
Toth Financial Advisory
Virginia
$39.5K
WA
677
Westfuller Advisors
New York
$38.3K +$38.4K +427 New
DMIC
678
Dixon Mitchell Investment Counsel
British Columbia, Canada
$38.2K
BCWM
679
Bartlett & Co Wealth Management
Ohio
$37.3K
SC
680
Swan Capital
Florida
$36.9K
HIW
681
Holos Integrated Wealth
Pennsylvania
$36.6K
AA
682
Addison Advisors
Vermont
$35.9K
FP
683
Financial Perspectives
Minnesota
$34.6K
HCM
684
Hollencrest Capital Management
California
$33.7K -$58.5K -650 -63%
SFCL
685
Strengthening Families & Communities LLC
Massachusetts
$33.4K +$33.5K +372 New
GWSG
686
GPS Wealth Strategies Group
Colorado
$32.3K
JWA
687
JFS Wealth Advisors
Pennsylvania
$32.2K
GWSA
688
Global Wealth Strategies & Associates
Colorado
$32.1K
HNW
689
High Note Wealth
Minnesota
$29.4K
BWAM
690
Boyd Watterson Asset Management
Ohio
$29.3K
RFP
691
Root Financial Partners
California
$28.7K +$28.8K +320 New
OC
692
Oakworth Capital
Alabama
$26.9K
FS
693
Financially Speaking
Colorado
$24.7K
AWM
694
Activest Wealth Management
Florida
$24.2K
BLC
695
Brown, Lisle/Cummings
Rhode Island
$24.2K
TCM
696
Tradewinds Capital Management
Washington
$24.1K
LI
697
LRI Investments
Florida
$24K +$24K +267 New
KG
698
Kilter Group
New York
$22.5K
HI
699
Hoey Investments
Pennsylvania
$22.4K
FLP
700
Financial Life Planners
Arizona
$21.9K +$22K +244 New