Who Owns GBTC?
Grayscale Bitcoin Trust ETF — Institutional Ownership & 13F Holdings
$59.66
-0.74 (-1.23%)
Market Cap
$34.5B
Shares Outstanding
692,369,966
Institutional Holders
700
Total Inst. Value
$2.0B
% of Float Held
—
QoQ Holder Change
+302
Institutional data as of Q1 2025
New Positions
180
Closed Positions
74
Increased
152
Decreased
196
Institutional Ownership Trend
Top 10 Institutional Holders(Q1 2025)
| # | Fund | Value | Shares |
|---|---|---|---|
| 1 | HORIZON KINETICS ASSET MANAGEMENT LLC | $957.8M | 14,696,513 |
| 2 | Multicoin Capital Management, LLC | $86.1M | 1,321,808 |
| 3 | NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $85.9M | 1,318 |
| 4 | HighTower Advisors, LLC | $43.4M | 666,447 |
| 5 | Greenwich Wealth Management LLC | $38.7M | 640,920 |
| 6 | MAD RIVER INVESTORSNew | $24.3M | 372,481 |
| 7 | DRW Securities, LLC | $24.2M | 370,589 |
| 8 | JANE STREET GROUP, LLC | $23.8M | 364,554 |
| 9 | Moors & Cabot, Inc. | $21.4M | 328,095 |
| 10 | Beaumont Financial Advisors, LLC | $19.4M | 298,045 |
Biggest Buyers & Sellers This Quarter
Top Buyers
| Fund | Shares Added | Value |
|---|---|---|
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | +341 | $85.9M |
| MAD RIVER INVESTORSNew | +372K | $24.3M |
| DRW Securities, LLC | +332K | $24.2M |
| JANE STREET GROUP, LLC | +162K | $23.8M |
| TB Alternative Assets Ltd. | +262K | $18.9M |
Top Sellers
| Fund | Shares Removed | Value |
|---|---|---|
| Proficio Capital Partners LLC | -2.1M | $2.9M |
| HORIZON KINETICS ASSET MANAGEMENT LLC | -472K | $957.8M |
| LEIGH BALDWIN & CO., LLC | -457K | $431K |
| Strategic Financial Concepts, LLC | -258K | $234K |
| Beaumont Financial Advisors, LLC | -38K | $19.4M |
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Frequently Asked Questions
How many institutional investors hold GBTC?
As of Q1 2025, 700 institutional investors report holding GBTC (Grayscale Bitcoin Trust ETF) in their 13F filings.
Which hedge fund owns the most GBTC?
The largest institutional holder of GBTC is HORIZON KINETICS ASSET MANAGEMENT LLC with $957.8M in shares.
Are institutions buying or selling GBTC?
This quarter, 180 institutions opened new positions in GBTC and 74 closed their positions.
What is 13F institutional ownership?
SEC Form 13F is a quarterly report filed by institutional investment managers with over $100M in qualifying assets. It discloses their US equity holdings, providing transparency into what the largest investors are buying and selling.
How often is institutional ownership data updated?
13F filings are due 45 days after each calendar quarter end (May 15, Aug 14, Nov 14, Feb 14). Data is updated on HedgeTrace as new filings are processed.