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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
NW
76
NewEdge Wealth
Pennsylvania
$4.93M
EFG
77
Ethos Financial Group
Pennsylvania
$4.78M
Cetera Investment Advisers
78
Cetera Investment Advisers
Illinois
$4.74M +$4.75M +52,757 New
NAM
79
NTV Asset Management
West Virginia
$4.71M -$90K -1,000 -2%
BCM
80
Beck Capital Management
Texas
$4.67M -$225K -2,505 -5%
VCM
81
Verde Capital Management
Michigan
$4.67M -$145K -1,611 -3%
Cerity Partners
82
Cerity Partners
New York
$4.65M -$291K -3,238 -6%
Brown Advisory
83
Brown Advisory
Maryland
$4.63M
PHS
84
Pekin Hardy Strauss
Illinois
$4.63M -$195K -2,170 -4%
CF
85
Convergence Financial
Missouri
$4.62M -$16.1K -179 -0.3%
KFGK
86
Keystone Financial Group (Kentucky)
Kentucky
$4.6M +$171K +1,898 +3%
US Bancorp
87
US Bancorp
Minnesota
$4.55M +$1.98K +22 +0%
PNC Financial Services Group
88
PNC Financial Services Group
Pennsylvania
$4.47M +$22.5K +250 +0.5%
Mercer Global Advisors
89
Mercer Global Advisors
Colorado
$4.37M +$150K +1,670 +4%
NA
90
NewEdge Advisors
Louisiana
$4.3M -$508K -5,647 -11%
Corient Private Wealth
91
Corient Private Wealth
Florida
$4.27M -$191K -2,120 -4%
HWM
92
HFG Wealth Management
Texas
$4.05M -$346K -3,843 -8%
PCP
93
Proficio Capital Partners
Massachusetts
$3.99M
CFG
94
Certior Financial Group
Pennsylvania
$3.92M -$3.96K -44 -0.1%
FA
95
Fagan Associates
New York
$3.89M -$254K -2,819 -6%
WANY
96
Wealthspire Advisors (New York)
New York
$3.83M -$78.8K -876 -2%
PFG
97
Prosperity Financial Group
California
$3.68M -$255K -2,833 -6%
Morgan Stanley
98
Morgan Stanley
New York
$3.65M +$3.45M +38,347 +1,667%
WGC
99
Watts Gwilliam & Co
Arizona
$3.59M
CAPTRUST Financial Advisors
100
CAPTRUST Financial Advisors
North Carolina
$3.52M +$55.2K +613 +2%