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Grayscale Bitcoin Trust
GBTC

Overview Fund Activity

745 hedge funds and large institutions have $2.94B invested in Grayscale Bitcoin Trust in 2025 Q2 according to their latest regulatory filings, with 107 funds opening new positions, 137 increasing their positions, 252 reducing their positions, and 47 closing their positions.

Holders
745
Holders Change
+43
Holders Change %
+6.13%
% of All Funds
10.01%
Holding in Top 10
22
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.3%
New
107
Increased
137
Reduced
252
Closed
47
Calls
$124M
Puts
$29.2M
Net Calls
+$94.9M
Net Calls Change
+$45.7M

Top Buyers

1
Jane Street
1
Jane Street
New York
$86.6M
2
IMC Chicago
2
IMC Chicago
Illinois
$30.8M
3
IC
3
IEQ Capital
California
$9.61M
4
Renaissance Technologies
4
Renaissance Technologies
New York
$6.79M
5
WMG
5
WESCAP Management Group
California
$6.19M

Top Sellers

1
DS
1
DRW Securities
Illinois
$2.06M
2
HKAM
2
Horizon Kinetics Asset Management
New York
$1.23B
3
JSSH
3
J. Safra Sarasin Holding
$0
4
TAA
4
TB Alternative Assets
Cayman Islands
$19.9M
5
AAS
5
Avantax Advisory Services
Texas
$1.46M
Name Market Value Shares Shares
Change 		Shares
Change %
BSAM
51
Blue Square Asset Management
New York
$7.64M 90,101 -2,699 -3%
Renaissance Technologies
52
Renaissance Technologies
New York
$6.79M 80,100 +80,100 New
VHAM
53
Van Hulzen Asset Management
California
$6.75M 79,622 -4,579 -5%
IP
54
Intellectus Partners
California
$6.48M 76,371 -563 -0.7%
SCM
55
SCS Capital Management
Massachusetts
$6.44M 75,957 – –
HP
56
Haven Private
Florida
$6.4M 75,396 -510 -0.7%
ASN
57
Advisory Services Network
Georgia
$6.27M 68,287 -4,180 -6%
WMG
58
WESCAP Management Group
California
$6.19M 72,972 +72,972 New
CPRC
59
Consolidated Portfolio Review Corp
New York
$6.18M 72,900 +7,410 +11%
Raymond James Financial
60
Raymond James Financial
Florida
$6.18M 72,811 +13,449 +23%
FT
61
Fiduciary Trust
Massachusetts
$6.12M 72,150 -5,000 -6%
ACA
62
Ascension Capital Advisors
Texas
$5.93M 69,908 -1,589 -2%
MA
63
MONECO Advisors
Connecticut
$5.9M 69,519 -2,200 -3%
FFA
64
Farther Finance Advisors
California
$5.82M 68,650 +50,355 +275%
GIM
65
Guild Investment Management
California
$5.71M 67,300 -190 -0.3%
SC
66
Seldon Capital
California
$5.61M 66,107 – –
NW
67
NewEdge Wealth
Pennsylvania
$5.6M 60,571 -7,601 -11%
LWAM
68
Legacy Wealth Asset Management
Minnesota
$5.47M 64,467 -3,226 -5%
OMC
69
Old Mission Capital
Illinois
$5.46M 64,382 +64,382 New
GRP
70
Global Retirement Partners
California
$5.4M 63,629 +63,629 New
BFG
71
Bleakley Financial Group
New Jersey
$5.09M 59,964 -1,090 -2%
KFGK
72
Keystone Financial Group (Kentucky)
Kentucky
$4.99M 54,331 +580 +1%
MFG
73
Merit Financial Group
Georgia
$4.91M 57,843 -6,040 -9%
ST
74
Smithfield Trust
Pennsylvania
$4.77M 56,195 – –
KPWS
75
Kestra Private Wealth Services
Texas
$4.76M 56,098 +158 +0.3%
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3
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