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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
WPA
776
Wealth Preservation Advisors
Tennessee
$987 +$990 +11 New
AFG
777
Albion Financial Group
Utah
$898
RDFA
778
Ritter Daniher Financial Advisory
Ohio
$898 +$900 +10 New
NRG
779
Nemes Rush Group
Michigan
$180
JWM
780
JPL Wealth Management
Colorado
$180 +$180 +2 New
AIA
781
Arcadia Investment Advisors
Idaho
$90
AC
782
Aristides Capital
Kentucky
-$14M -164,931 Closed
SWM
783
Stark Wealth Management
Pennsylvania
-$1.02M -14,850 Closed
AIM
784
Advyzon Investment Management
Illinois
-$1.09M -12,864 Closed
CF
785
Cantor Fitzgerald
New York
-$698K -8,232 Closed
SAM
786
Silvercrest Asset Management
New York
-$578K -6,810 Closed
OFS
787
OneAscent Financial Services
Alabama
-$521K -6,276 Closed
ACM
788
AlphaStar Capital Management
North Carolina
-$488K -5,747 Closed
TSS
789
Two Sigma Securities
New York
-$486K -5,727 Closed
FMWA
790
Forvis Mazars Wealth Advisors
Missouri
-$482K -5,679 Closed
SWA
791
SFMG Wealth Advisors
Texas
-$457K -5,382 Closed
MSFS
792
Main Street Financial Solutions
Pennsylvania
-$436K -5,145 Closed
WAM
793
Warberg Asset Management
Illinois
-$424K -5,001 Closed
RSWM
794
Robertson Stephens Wealth Management
California
-$373K -4,393 Closed
APWA
795
Atlas Private Wealth Advisors
New Jersey
-$361K -4,250 Closed
VCM
796
Vivaldi Capital Management
Illinois
-$354K -4,173 Closed
AllianceBernstein
797
AllianceBernstein
Tennessee
-$326K -3,845 Closed
SXL
798
Summit X LLC
Missouri
-$273K -3,215 Closed
RFM
799
Royal Fund Management
Florida
-$241K -2,880 Closed
MCP
800
Mirador Capital Partners
California
-$243K -2,863 Closed