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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
TIA
51
Traphagen Investment Advisors
New Jersey
$7.93M -$371K -4,127 -4%
TAA
52
TB Alternative Assets
Cayman Islands
$7.69M -$13.4M -149,018 -63%
BSAM
53
Blue Square Asset Management
New York
$7.2M -$890K -9,890 -11%
VHAM
54
Van Hulzen Asset Management
California
$7.05M -$94.5K -1,050 -1%
IP
55
Intellectus Partners
California
$6.87M +$15.3K +170 +0.2%
SCM
56
SCS Capital Management
Massachusetts
$6.82M
Osaic Holdings
57
Osaic Holdings
Arizona
$6.74M +$545K +6,052 +9%
ASN
58
Advisory Services Network
Georgia
$6.61M +$485K +5,386 +8%
HP
59
Haven Private
Florida
$6.6M -$166K -1,847 -2%
CPRC
60
Consolidated Portfolio Review Corp
New York
$6.54M -$7.92K -88 -0.1%
WMG
61
WESCAP Management Group
California
$6.51M -$39.9K -443 -0.6%
FT
62
Fiduciary Trust
Massachusetts
$6.48M
FFA
63
Farther Finance Advisors
California
$6.36M +$201K +2,230 +3%
MA
64
MONECO Advisors
Connecticut
$6.23M -$8.91K -99 -0.1%
ACA
65
Ascension Capital Advisors
Texas
$6.15M -$131K -1,455 -2%
GIM
66
Guild Investment Management
California
$6.01M -$32.8K -365 -0.5%
Royal Bank of Canada
67
Royal Bank of Canada
Ontario, Canada
$5.98M +$4.46M +49,507 +290%
SC
68
Seldon Capital
California
$5.93M
LWAM
69
Legacy Wealth Asset Management
Minnesota
$5.73M -$57.1K -634 -1%
GRP
70
Global Retirement Partners
California
$5.69M -$24.7K -275 -0.4%
ST
71
Smithfield Trust
Pennsylvania
$5.04M
IFG
72
Independent Financial Group
California
$5.02M -$21.6K -240 -0.4%
MFG
73
Merit Financial Group
Georgia
$5M -$197K -2,194 -4%
BFG
74
Bleakley Financial Group
New Jersey
$4.96M -$420K -4,666 -8%
KPWS
75
Kestra Private Wealth Services
Texas
$4.94M -$98.1K -1,090 -2%