Grayscale Bitcoin Trust
GBTC
754 hedge funds and large institutions have $2.59B invested in Grayscale Bitcoin Trust in 2024 Q4 according to their latest regulatory filings, with 188 funds opening new positions, 167 increasing their positions, 225 reducing their positions, and 37 closing their positions.
408% more first-time investments, than exits
New positions opened: 188 | Existing positions closed: 37
215% more call options, than puts
Call options by funds: $96.5M | Put options by funds: $30.7M
50% more funds holding in top 10
Funds holding in top 10: 16 → 24 (+8)
43% more capital invested
Capital invested by funds: $1.81B → $2.59B (+$778M)
22% more funds holding
Funds holding: 619 → 754 (+135)
0.3% more ownership
Funds ownership: 13.18% → 13.48% (+0.3%)
26% less repeat investments, than reductions
Existing positions increased: 167 | Existing positions reduced: 225
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTUS
Flow Traders U.S.
New York
|
+$9.87M |
| 2 |
DCM
Discovery Capital Management
South Norwalk,
Connecticut
|
+$7.08M |
| 3 |
Jane Street
New York
|
+$6.89M |
| 4 |
VF
Virtu Financial
New York
|
+$5.56M |
| 5 |
OMC
Old Mission Capital
Chicago,
Illinois
|
+$4.95M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
-$90.6M |
| 2 |
Focus Partners Wealth
Boston,
Massachusetts
|
-$32M |
| 3 |
GWM
Greenwich Wealth Management
Greenwich,
Connecticut
|
-$28.6M |
| 4 |
OCM
Ovata Capital Management
Hong Kong
|
-$15.3M |
| 5 |
HWM
HFG Wealth Management
The Woodlands,
Texas
|
-$7.1M |
GBTC Hedge Fund Activity: Q4 2024 in Review
754 of the 7,606 institutional investors tracked by Wall St. Rank reported a position in Grayscale Bitcoin Trust (GBTC) for Q4 2024, worth a combined $2.59B — up 43% from $1.81B a quarter earlier.
Buyers outnumbered sellers: 188 funds opened new GBTC positions and 37 closed out — a net gain of 151 holders — while 167 added to existing stakes and 225 trimmed.
The largest buyer was Flow Traders U.S., opening a new position worth an estimated $9.87M. The largest seller was Goldman Sachs, cutting an estimated $90.6M.
- 754 institutional investors held Grayscale Bitcoin Trust (GBTC) as of Q4 2024, up from 619 in Q3 2024.
- Funds reported $2.59B of Grayscale Bitcoin Trust stock for Q4 2024, up 43% quarter-over-quarter.
- 188 funds opened new Grayscale Bitcoin Trust positions in Q4 2024 and 37 closed out, a net change of +151 holders.
- The largest Grayscale Bitcoin Trust buyer in Q4 2024 was Flow Traders U.S., an estimated $9.87M added.
- The largest Grayscale Bitcoin Trust seller in Q4 2024 was Goldman Sachs, an estimated $90.6M sold.
Based on aggregated 13F filings for Q4 2024.