Grayscale Bitcoin Trust
GBTC
663 hedge funds and large institutions have $2.66B invested in Grayscale Bitcoin Trust in 2024 Q2 according to their latest regulatory filings, with 123 funds opening new positions, 126 increasing their positions, 221 reducing their positions, and 96 closing their positions.
28% more first-time investments, than exits
New positions opened: 123 | Existing positions closed: 96
2% more funds holding
Funds holding: 650 → 663 (+13)
1.59% less ownership
Funds ownership: 17.71% → 16.12% (-1.6%)
29% less funds holding in top 10
Funds holding in top 10: 28 → 20 (-8)
43% less repeat investments, than reductions
Existing positions increased: 126 | Existing positions reduced: 221
82% less capital inflows, than outflows
Capital inflows: $234M | Capital outflows: $1.27B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$38.5M |
| 2 |
Wealthfront Advisers
Palo Alto,
California
|
+$31M |
| 3 |
BFA
Beaumont Financial Advisors
Needham,
Massachusetts
|
+$21.2M |
| 4 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$15.1M |
| 5 |
FTUS
Flow Traders U.S.
New York
|
+$10.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$423M |
| 2 |
Morgan Stanley
New York
|
-$249M |
| 3 |
Millennium Management
New York
|
-$96.6M |
| 4 |
Jane Street
New York
|
-$90.2M |
| 5 |
FCM
Farallon Capital Management
San Francisco,
California
|
-$85.2M |
GBTC Hedge Fund Activity: Q2 2024 in Review
663 of the 6,940 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Trust (GBTC) for Q2 2024, worth a combined $2.66B — down 38% from $4.3B a quarter earlier.
Buyers outnumbered sellers: 123 funds opened new GBTC positions and 96 closed out — a net gain of 27 holders — while 126 added to existing stakes and 221 trimmed.
The largest buyer was Goldman Sachs, opening a new position worth an estimated $38.5M. The largest seller was Susquehanna International Group, cutting an estimated $423M.
- 663 institutional investors held Grayscale Bitcoin Trust (GBTC) as of Q2 2024, up from 650 in Q1 2024.
- Funds reported $2.66B of Grayscale Bitcoin Trust stock for Q2 2024, down 38% quarter-over-quarter.
- 123 funds opened new Grayscale Bitcoin Trust positions in Q2 2024 and 96 closed out, a net change of +27 holders.
- The largest Grayscale Bitcoin Trust buyer in Q2 2024 was Goldman Sachs, an estimated $38.5M added.
- The largest Grayscale Bitcoin Trust seller in Q2 2024 was Susquehanna International Group, an estimated $423M sold.
Based on aggregated 13F filings for Q2 2024.