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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
CL
151
Choreo LLC
Illinois
$2.09M +$32.6K +362 +2%
Kovitz Investment Group Partners
152
Kovitz Investment Group Partners
Illinois
$2.07M +$124K +1,379 +6%
VF
153
Virtu Financial
New York
$2.07M -$12.1M -134,699 -85%
QWM
154
Quadcap Wealth Management
Texas
$2.06M
JIP
155
Jaffetilchin Investment Partners
Florida
$2.06M -$1.17K -13 -0.1%
NL
156
NWAM LLC
Washington
$2.04M -$8.55K -95 -0.4%
MCM
157
MAI Capital Management
Ohio
$2.04M -$105K -1,166 -5%
FMP
158
Financial Management Professionals
Texas
$2.02M +$34.7K +386 +2%
AV
159
Alamea Verwaltungs
New Jersey
$2.01M
MWM
160
Meridian Wealth Management
Kentucky
$2.01M +$2.52K +28 +0.1%
SWM
161
SeaCrest Wealth Management
New York
$1.99M +$26.1K +290 +1%
TPWA
162
TRUE Private Wealth Advisors
Oregon
$1.99M +$27K +300 +1%
PWA
163
Prairie Wealth Advisors
Nebraska
$1.97M -$25.2K -280 -1%
BPA
164
Beacon Pointe Advisors
California
$1.97M -$1.33M -14,825 -40%
PTC
165
Philadelphia Trust Company
Pennsylvania
$1.94M
MGIA
166
Moneta Group Investment Advisors
Missouri
$1.92M +$1.89K +21 +0.1%
ULWM
167
Upper Left Wealth Management
Florida
$1.88M -$8.1K -90 -0.4%
SWP
168
Stratos Wealth Partners
Ohio
$1.87M -$41.1K -457 -2%
JPLA
169
Joseph P. Lucia & Associates
New York
$1.86M -$145K -1,608 -7%
VCM
170
Virtue Capital Management
Tennessee
$1.86M +$470K +5,223 New
PWM
171
Perigon Wealth Management
California
$1.85M -$140K -1,552 -7%
PCA
172
Pallas Capital Advisors
Massachusetts
$1.85M
MWM
173
Maridea Wealth Management
New York
$1.85M -$31.9K -354 -2%
SIA
174
Soltis Investment Advisors
Utah
$1.83M +$30.5K +339 +2%
SF
175
Synovus Financial
Georgia
$1.83M -$15.2K -169 -0.8%