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Grayscale Bitcoin Trust
GBTC

Overview Fund Activity

749 hedge funds and large institutions have $2.96B invested in Grayscale Bitcoin Trust in 2025 Q2 according to their latest regulatory filings, with 107 funds opening new positions, 139 increasing their positions, 253 reducing their positions, and 47 closing their positions.

New
Increased
Maintained
Reduced
Closed
Holders
749
Holders Change
+48
Holders Change %
+6.85%
% of All Funds
10.04%
Holding in Top 10
22
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.29%
New
107
Increased
139
Reduced
253
Closed
47
Calls
$166M
Puts
$48.7M
Net Calls
+$117M
Net Calls Change
+$68.2M

Top Buyers

1
Jane Street
Jane Street
New York
+$59.4M
2
IMC Chicago
IMC Chicago
Illinois
+$21.7M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$13.3M
4
IC
IEQ Capital
California
+$7.69M
5
Renaissance Technologies
Renaissance Technologies
New York
+$6.79M

Top Sellers

1
DS
DRW Securities
Illinois
-$29.3M
2
HKAM
Horizon Kinetics Asset Management
New York
-$12.3M
3
JSSH
J. Safra Sarasin Holding
-$4.76M
4
TAA
TB Alternative Assets
Cayman Islands
-$4.71M
5
AAS
Avantax Advisory Services
Texas
-$4.56M
Name Holding Trade Value Shares
Change 		Shares
Change %
Citadel Advisors
751
Citadel Advisors
Florida
– -$3.17M -48,594 Closed
GCM
752
Gallacher Capital Management
Colorado
– -$2.57M -39,451 Closed
IAP
753
Indie Asset Partners
Indiana
– -$1.75M -26,830 Closed
SG
754
Sharper & Granite
California
– -$1.43M -21,900 Closed
TC
755
TownSquare Capital
Utah
– -$1.05M -16,154 Closed
FCI
756
Financial Counselors Inc
Kansas
– -$962K -14,754 Closed
CWM
757
Circle Wealth Management
New Jersey
– -$864K -13,250 Closed
ARC
758
Advisor Resource Council
Texas
– -$685K -11,570 Closed
VCWA
759
Vanguard Capital Wealth Advisors
Colorado
– -$512K -7,850 Closed
ACP
760
Aveo Capital Partners
Colorado
– -$552K -7,270 Closed
PCA
761
Prosperity Capital Advisors
Ohio
– -$455K -6,781 Closed
IIA
762
IPG Investment Advisors
California
– -$405K -6,211 Closed
TF
763
Theory Financial
Colorado
– -$398K -6,106 Closed
PWH
764
Priebe Wealth Holdings
Minnesota
– -$364K -5,580 Closed
JWWM
765
Johnson & White Wealth Management
Pennsylvania
– -$358K -5,496 Closed
IC
766
Inscription Capital
Texas
– -$307K -4,866 Closed
EA
767
Ellsworth Advisors
Ohio
– -$297K -4,550 Closed
GC
768
GFG Capital
Florida
– -$293K -4,500 Closed
SG
769
StoneX Group
New York
– -$281K -4,316 Closed
PP
770
Patten & Patten
Tennessee
– -$270K -4,137 Closed
RC
771
Roundview Capital
New Jersey
– -$261K -4,000 Closed
PA
772
Procyon Advisors
Connecticut
– -$258K -3,960 Closed
BWA
773
Bordeaux Wealth Advisors
California
– -$251K -3,856 Closed
TSWM
774
Tyler-Stone Wealth Management
Ohio
– -$246K -3,768 Closed
VCM
775
Virtue Capital Management
Tennessee
– -$242K -3,711 Closed
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