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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 %
DI
126
Diligent Investors
California
$2.37M 27,968 -494 -2%
IIM
127
Illumine Investment Management
Washington
$2.36M 27,791 -808 -3%
Truist Financial
128
Truist Financial
North Carolina
$2.35M 27,676 -132 -0.5%
SIC
129
SJS Investment Consulting
Ohio
$2.34M 27,565 – –
CWA
130
Cura Wealth Advisors
Illinois
$2.32M 27,390 – –
CH
131
Canton Hathaway
Rhode Island
$2.31M 27,200 – –
SPIA
132
Steward Partners Investment Advisory
New York
$2.17M 25,612 +24,437 +2,080%
FFG
133
Fortem Financial Group
California
$2.09M 24,657 -600 -2%
TFGT
134
TS Financial Group (TSFG)
Illinois
$2.09M 24,617 – –
CFS
135
CRA Financial Services
New Jersey
$2.08M 24,541 -533 -2%
SC
136
Sapient Capital
Indiana
$2.08M 24,488 – –
DS
137
DRW Securities
Illinois
$2.06M 24,371 -346,218 -93%
MCM
138
MAI Capital Management
Ohio
$2.02M 23,861 +125 +0.5%
APG
139
Abacus Planning Group
South Carolina
$2.01M 23,738 – –
WKSWA
140
White Knight Strategic Wealth Advisors
New Jersey
$2.01M 23,684 -60 -0.3%
BIP
141
Blue Investment Partners
California
$2M 23,583 – –
SWM
142
Spire Wealth Management
Virginia
$1.97M 23,241 -2,395 -9%
CL
143
Choreo LLC
Illinois
$1.95M 22,976 -3,304 -13%
QWM
144
Quadcap Wealth Management
Texas
$1.95M 22,963 -73 -0.3%
JIP
145
Jaffetilchin Investment Partners
Florida
$1.95M 22,939 -907 -4%
WSFS
146
Wilmington Savings Fund Society
Delaware
$1.91M 22,570 -60 -0.3%
APW
147
Aurora Private Wealth
New Jersey
$1.91M 22,512 -46 -0.2%
AV
148
Alamea Verwaltungs
New Jersey
$1.9M 22,446 – –
MWM
149
Meridian Wealth Management
Kentucky
$1.9M 22,370 -500 -2%
JPLA
150
Joseph P. Lucia & Associates
New York
$1.9M 22,348 -810 -3%
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