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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 %
SI
101
Sprott Inc
Ontario, Canada
$3.15M 37,085 -1,205 -3%
BPA
102
Beacon Pointe Advisors
California
$3.12M 36,748 -412 -1%
TM
103
TigerOak Management
New Mexico
$3.1M 36,575 – –
IWC
104
Integrated Wealth Concepts
Massachusetts
$3.04M 35,848 +971 +3%
ICP
105
Interchange Capital Partners
Pennsylvania
$3.03M 35,680 -1,801 -5%
MOS
106
MGO One Seven
Ohio
$3.03M 35,668 -402 -1%
PWC
107
PYA Waltman Capital
Tennessee
$3M 35,415 -442 -1%
Pathstone Holdings
108
Pathstone Holdings
New Jersey
$2.98M 35,102 -3,048 -8%
EP
109
EPIQ Partners
Minnesota
$2.88M 34,000 -10,155 -23%
CIA
110
Compass Ion Advisors
Pennsylvania
$2.86M 33,758 -330 -1%
WA
111
Waverly Advisors
Alabama
$2.84M 33,454 -6,024 -15%
CIC
112
Carnegie Investment Counsel
Ohio
$2.8M 33,033 +555 +2%
BRWA
113
B. Riley Wealth Advisors
Florida
$2.78M 32,763 +32,763 New
WIM
114
WealthPlan Investment Management
Nebraska
$2.75M 32,387 -136 -0.4%
MCWS
115
McKinley Carter Wealth Services
West Virginia
$2.71M 31,999 -1,456 -4%
Financial Engines Advisors
116
Financial Engines Advisors
California
$2.7M 31,774 +31,774 New
NS
117
NBC Securities
Alabama
$2.65M 31,295 -5,150 -14%
MCM
118
McRae Capital Management
New Jersey
$2.62M 30,940 -13,650 -31%
IAN
119
Integrated Advisors Network
Texas
$2.6M 30,674 -901 -3%
CRC
120
Curi RMB Capital
Illinois
$2.52M 29,748 +3,739 +14%
RMC
121
Ribbit Management Company
California
$2.49M 29,309 – –
Stifel Financial
122
Stifel Financial
Missouri
$2.44M 28,757 +450 +2%
Osaic Holdings
123
Osaic Holdings
Arizona
$2.43M 32,368 +7,356 +29%
FWM
124
Finer Wealth Management
Massachusetts
$2.43M 28,652 -362 -1%
GC
125
Grimes & Company
Massachusetts
$2.4M 28,338 – –
3 4
5
6 7