Grayscale Bitcoin Trust
GBTC
619 hedge funds and large institutions have $1.81B invested in Grayscale Bitcoin Trust in 2024 Q3 according to their latest regulatory filings, with 44 funds opening new positions, 68 increasing their positions, 505 reducing their positions, and 76 closing their positions.
4.67% less ownership
Funds ownership: 17.85% → 13.18% (-4.7%)
6% less funds holding
Funds holding: 661 → 619 (-42)
20% less funds holding in top 10
Funds holding in top 10: 20 → 16 (-4)
32% less capital invested
Capital invested by funds: $2.66B → $1.81B (-$843M)
42% less first-time investments, than exits
New positions opened: 44 | Existing positions closed: 76
87% less repeat investments, than reductions
Existing positions increased: 68 | Existing positions reduced: 505
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$33.7M |
| 2 |
GWM
Greenwich Wealth Management
Greenwich,
Connecticut
|
+$23.4M |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$10.8M |
| 4 |
AWP
Atlas Wealth Partners
Wyomissing,
Pennsylvania
|
+$7.49M |
| 5 |
IC
Iconiq Capital
San Francisco,
California
|
+$3.79M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$538M |
| 2 |
Millennium Management
New York
|
-$78.2M |
| 3 |
HKAM
Horizon Kinetics Asset Management
New York
|
-$63.5M |
| 4 |
BFM
Boothbay Fund Management
New York
|
-$46.6M |
| 5 |
DCM
Discovery Capital Management
South Norwalk,
Connecticut
|
-$32.1M |
GBTC Hedge Fund Activity: Q3 2024 in Review
619 of the 6,978 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Trust (GBTC) for Q3 2024, worth a combined $1.81B — down 32% from $2.66B a quarter earlier.
Sellers outnumbered buyers: 76 funds closed out of GBTC and 44 opened new positions — a net loss of 32 holders — while 505 trimmed existing stakes and 68 added.
The largest buyer was Goldman Sachs, adding an estimated $33.7M. The largest seller was Susquehanna International Group, cutting an estimated $538M.
- 619 institutional investors held Grayscale Bitcoin Trust (GBTC) as of Q3 2024, down from 661 in Q2 2024.
- Funds reported $1.81B of Grayscale Bitcoin Trust stock for Q3 2024, down 32% quarter-over-quarter.
- 44 funds opened new Grayscale Bitcoin Trust positions in Q3 2024 and 76 closed out, a net change of -32 holders.
- The largest Grayscale Bitcoin Trust buyer in Q3 2024 was Goldman Sachs, an estimated $33.7M added.
- The largest Grayscale Bitcoin Trust seller in Q3 2024 was Susquehanna International Group, an estimated $538M sold.
Based on aggregated 13F filings for Q3 2024.