GBTC icon

Grayscale Bitcoin Trust
GBTC

Overview Fund Activity

701 hedge funds and large institutions have $2.23B invested in Grayscale Bitcoin Trust in 2025 Q1 according to their latest regulatory filings, with 51 funds opening new positions, 171 increasing their positions, 240 reducing their positions, and 80 closing their positions.

New
Increased
Maintained
Reduced
Closed
Holders
701
Holders Change
-47
Holders Change %
-6.28%
% of All Funds
9.52%
Holding in Top 10
22
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-4.35%
% of All Funds
0.3%
New
51
Increased
171
Reduced
240
Closed
80
Calls
$77.1M
Puts
$27.8M
Net Calls
+$49.3M
Net Calls Change
-$16.6M

Top Buyers

1
DS
DRW Securities
Illinois
+$21.6M
2
TAA
TB Alternative Assets
Cayman Islands
+$17.1M
3
Jane Street
Jane Street
New York
+$7.65M
4
IMC Chicago
IMC Chicago
Illinois
+$6.96M
5
SCM
SCS Capital Management
Massachusetts
+$4.95M

Top Sellers

1
HKAM
Horizon Kinetics Asset Management
New York
-$30.7M
2
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
-$16.4M
3
FTUS
Flow Traders U.S.
New York
-$11.1M
4
DCM
Discovery Capital Management
Connecticut
-$7.95M
5
OMC
Old Mission Capital
Illinois
-$5.56M
Name Holding Trade Value Shares
Change 		Shares
Change %
SC
176
Scotia Capital
Ontario, Canada
$1.27M -$130K -2,000 -9%
USCWA
177
U.S. Capital Wealth Advisors
Texas
$1.27M +$662K +10,162 +109%
MAMG
178
Milestone Asset Management Group
Connecticut
$1.27M – – –
Kovitz Investment Group Partners
179
Kovitz Investment Group Partners
Illinois
$1.27M +$150K +2,295 +13%
MWM
180
Maridea Wealth Management
New York
$1.26M -$15.8K -242 -1%
CIBC World Market
181
CIBC World Market
Ontario, Canada
$1.24M +$138K +2,113 +13%
FFA
182
Farther Finance Advisors
California
$1.23M -$10.9K -163 -0.9%
ACA
183
Aptus Capital Advisors
Alabama
$1.23M +$456 +7 +0%
BTI
184
Blue Trust Inc
Georgia
$1.21M -$60.9K -934 -5%
Royal Bank of Canada
185
Royal Bank of Canada
Ontario, Canada
$1.2M -$301K -4,614 -20%
BA
186
Bellwether Advisors
Nebraska
$1.18M +$2.02K +31 +0.2%
HWA
187
HCR Wealth Advisors
California
$1.16M – – –
IAA
188
Independent Advisor Alliance
North Carolina
$1.15M -$13.3K -204 -1%
SWM
189
SeaCrest Wealth Management
New York
$1.09M +$25.9K +398 +2%
HIP
190
HUB Investment Partners
Texas
$1.08M +$803K +12,326 +289%
FH
191
FWG Holdings
Florida
$1.08M -$186K -2,476 -15%
PCIA
192
Prime Capital Investment Advisors
Kansas
$1.07M +$231K +3,549 +28%
Corient Private Wealth
193
Corient Private Wealth
Florida
$1.07M -$2.32M -35,562 -68%
TC
194
TownSquare Capital
Utah
$1.05M +$126K +1,940 +14%
CA
195
Clearstead Advisors
Ohio
$1.04M -$17.9K -275 -2%
CWM
196
Copia Wealth Management
Oregon
$1.03M -$47.2K -725 -4%
SPAS
197
Spectrum Planning & Advisory Services
California
$1.03M – – –
RG
198
Rathbones Group
United Kingdom
$1.02M +$61.3K +940 +6%
CCA
199
Childress Capital Advisors
Texas
$1.02M – – –
AWM
200
AE Wealth Management
Kansas
$1.01M -$315K -4,840 -24%
6 7
8
9 10