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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 %
Cerity Partners
76
Cerity Partners
New York
$4.68M 55,106 -7,174 -12%
BCM
77
Beck Capital Management
Texas
$4.63M 54,527 -6,511 -11%
PHS
78
Pekin Hardy Strauss
Illinois
$4.56M 53,708 -749 -1%
VCM
79
Verde Capital Management
Michigan
$4.55M 53,620 -1,095 -2%
NA
80
NewEdge Advisors
Louisiana
$4.54M 53,577 +3,795 +8%
NAM
81
NTV Asset Management
West Virginia
$4.54M 53,487 – –
EFG
82
Ethos Financial Group
Pennsylvania
$4.51M 53,212 – –
CF
83
Convergence Financial
Missouri
$4.38M 51,639 -3,904 -7%
Brown Advisory
84
Brown Advisory
Maryland
$4.38M 51,616 -67 -0.1%
US Bancorp
85
US Bancorp
Minnesota
$4.3M 50,701 -14 -0%
Corient Private Wealth
86
Corient Private Wealth
Florida
$4.21M 49,653 +33,299 +204%
PNC Financial Services Group
87
PNC Financial Services Group
Pennsylvania
$4.2M 49,489 +3,621 +8%
MCM
88
Mainstay Capital Management
Michigan
$4.08M 48,096 +24,048 +100%
Mercer Global Advisors
89
Mercer Global Advisors
Colorado
$3.98M 46,963 -243 -0.5%
FA
90
Fagan Associates
New York
$3.91M 46,103 +1,867 +4%
PAG
91
Private Advisor Group
New Jersey
$3.82M 45,040 +5,690 +14%
PCP
92
Proficio Capital Partners
Massachusetts
$3.77M 44,427 – –
PFG
93
Prosperity Financial Group
California
$3.72M 43,873 +400 +0.9%
CFG
94
Certior Financial Group
Pennsylvania
$3.71M 43,760 – –
WANY
95
Wealthspire Advisors (New York)
New York
$3.7M 43,589 -5 -0%
CWP
96
Cyndeo Wealth Partners
Florida
$3.52M 41,540 +200 +0.5%
SFS
97
Sowell Financial Services
Arkansas
$3.44M 40,567 +420 +1%
CAPTRUST Financial Advisors
98
CAPTRUST Financial Advisors
North Carolina
$3.28M 38,621 -2,948 -7%
VWA
99
Visionary Wealth Advisors
Illinois
$3.26M 38,411 -382 -1%
HWM
100
HFG Wealth Management
Texas
$3.19M 48,965 -426 -0.9%
2 3
4
5 6