Grayscale Bitcoin Trust ETF
GBTC- Exchange
- NYSE
- Industry
- Commodity Contracts Brokers & Dealers
- SEC CIK
- 0001588489
No open-market purchases or sales by Grayscale Bitcoin Trust ETF insiders were filed in the last 90 days; 605 institutions reported holding it in 13F filings for Q2 2026, worth $1.27B in total; no superinvestor holds it.
13F holders, Q4 2025
Institutional positions in Grayscale Bitcoin Trust ETF as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 740
- −29 vs. Q3 2025
- Shares held
- 32.8M
- −720.7K (−2.1%) vs. Q3 2025
- Total value
- $2.25B
- −$759.2M (−25.2%) vs. Q3 2025
- New holders
- 91
- 163 more added
- Sold out
- 120
- 236 more reduced
18 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting GBTC on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 605 | $1.27B |
| Q1 2026 | 660 | $1.67B |
| Q4 2025 | 740 | $2.25B |
| Q3 2025 | 787 | $3.02B |
| Q2 2025 | 766 | $2.99B |
| Q1 2025 | 715 | $2.25B |
| Q4 2024 | 758 | $2.61B |
| Q3 2024 | 621 | $1.82B |
| Q2 2024 | 663 | $2.68B |
| Q1 2024 | 648 | $4.28B |
| Q4 2023 | 47 | $591.8M |
| Q3 2023 | 44 | $436.3M |
| Q2 2023 | 45 | $445.7M |
| Q1 2023 | 43 | $378.0M |
| Q4 2022 | 48 | $196.5M |
| Q3 2022 | 50 | $86.4M |
| Q2 2022 | 46 | $153.6M |
| Q1 2022 | 56 | $248.1M |
| Q4 2021 | 66 | $328.8M |
| Q3 2021 | 59 | $369.9M |
| Q2 2021 | 59 | $341.2M |
| Q1 2021 | 75 | $538.7M |
Institutions, Q4 2025
Shares, value and share of portfolio for each institution holding Grayscale Bitcoin Trust ETF; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Horizon Kinetics Asset Management LLC | 14,113,593 | $964.8M | 13.05% | −67,607−0.5% | Reduced |
| LPL Financial LLC | 977,214 | $66.8M | 0.02% | −42,860−4.2% | Reduced |
| HighTower Advisors, LLC | 620,363 | $42.4M | 0.05% | −6,065−1.0% | Reduced |
| Greenwich Wealth Management LLC | 635,001 | $40.3M | 1.80% | −1,896−0.3% | Reduced |
| Susquehanna International Group, LLP | 521,072 | $35.6M | 0.05% | +365,151+234.2% | Added |
| MSRH, LLC | 422,078 | $28.9M | 32.21% | +422,078 | New |
| Mad River Investors | 360,454 | $24.6M | 11.23% | −500−0.1% | Reduced |
| Wealthfront Advisers LLC | 354,702 | $24.2M | 0.05% | −18,728−5.0% | Reduced |
| EagleClaw Capital Managment, LLC | 332,841 | $22.8M | 3.29% | −1,625−0.5% | Reduced |
| Moors & Cabot, Inc. | 315,519 | $21.6M | 0.92% | −382−0.1% | Reduced |
| Multicoin Capital Management, LLC | 302,251 | $20.7M | 18.06% | −1,019,557−77.1% | Reduced |
| Kingswood Wealth Advisors, LLC | 283,835 | $19.4M | 0.94% | −1,113−0.4% | Reduced |
| One Charles Private Wealth Services, LLC | 278,603 | $19.0M | 4.92% | −10,807−3.7% | Reduced |
| Beaumont Financial Advisors, LLC | 271,467 | $18.6M | 1.22% | −2,901−1.1% | Reduced |
| Cambridge Investment Research Advisors, Inc. | 259,925 | $17.8M | 0.05% | −8,653−3.2% | Reduced |
| Colony Group, LLC | 221,130 | $16.9M | 0.02% | +20,951+10.5% | Added |
| Cresset Asset Management, LLC | 243,904 | $16.7M | 0.07% | −15,762−6.1% | Reduced |
| DRW Securities, LLC | 232,691 | $15.9M | 1.21% | +214,937+1,210.6% | Added |
| Old Mission Capital LLC | 221,544 | $15.1M | 0.59% | −82,865−27.2% | Reduced |
| Commonwealth Equity Services, LLC | 207,463 | $14.2M | 0.02% | −21,054−9.2% | Reduced |
| Lido Advisors, LLC | 159,295 | $13.9M | 0.05% | +14,139+9.7% | Added |
| Wealth Enhancement Advisory Services, LLC | 184,647 | $13.3M | 0.02% | −5,677−3.0% | Reduced |
| Cetera Investment Advisers | 184,976 | $12.6M | 0.01% | +132,219+250.6% | Added |
| Mariner, LLC | 173,207 | $11.8M | 0.01% | +2,088+1.2% | Added |
| RBF Capital, LLC | 150,000 | $10.3M | 0.47% | 00.0% | Unchanged |
| Atlas Wealth Partners, LLC | 142,712 | $9.76M | 10.72% | −3,646−2.5% | Reduced |
| Creative Planning | 135,990 | $9.30M | 0.01% | +788+0.6% | Added |
| Sloy Dahl & Holst, LLC | 134,430 | $9.19M | 1.10% | −318−0.2% | Reduced |
| Fiduciary Alliance LLC | 134,253 | $9.18M | 0.60% | +4,221+3.2% | Added |
| Foundations Investment Advisors, LLC | 127,107 | $8.69M | 0.11% | −2,525−1.9% | Reduced |
| Lakewood Capital Management, LP | 123,500 | $8.44M | 0.59% | 00.0% | Unchanged |
| SLT Holdings LLC | 122,775 | $8.39M | 5.60% | +173+0.1% | Added |
| Renaissance Technologies LLC | 120,100 | $8.21M | 0.01% | +87,900+273.0% | Added |
| Pasadena Private Wealth, LLC | 119,266 | $8.15M | 1.11% | −2,096−1.7% | Reduced |
| Sequoia Financial Advisors, LLC | 118,945 | $8.13M | 0.05% | −1,156−1.0% | Reduced |
| Ieq Capital, LLC | 117,106 | $8.01M | 0.02% | +4,000+3.5% | Added |
| Fielder Capital Group LLC | 112,760 | $7.71M | 1.64% | −7,706−6.4% | Reduced |
| Once Capital Management, LLC | 107,700 | $7.36M | 1.86% | 00.0% | Unchanged |
| Blair William & Co | 107,329 | $7.34M | 0.02% | −228−0.2% | Reduced |
| Birch Hill Investment Advisors LLC | 102,850 | $7.03M | 0.29% | 00.0% | Unchanged |
| Citrine Capital LLC | 101,811 | $6.96M | 3.23% | −1,413−1.4% | Reduced |
| ICONIQ Capital, LLC | 101,575 | $6.94M | 0.10% | 00.0% | Unchanged |
| Kestra Advisory Services, LLC | 100,737 | $6.89M | 0.03% | −699−0.7% | Reduced |
| Millennium Management LLC | 100,000 | $6.84M | 0.00% | 00.0% | Unchanged |
| Red Door Wealth Management, LLC | 95,690 | $6.54M | 0.68% | −1,622−1.7% | Reduced |
| Morgan Stanley | 93,441 | $6.39M | 0.00% | +52,794+129.9% | Added |
| Larson Financial Group LLC | 92,156 | $6.30M | 0.21% | −7,359−7.4% | Reduced |
| Claro Advisors LLC | 90,190 | $6.17M | 0.84% | −264−0.3% | Reduced |
| Raymond James Financial Inc | 87,523 | $5.98M | 0.00% | −5,885−6.3% | Reduced |
| Traphagen Investment Advisors LLC | 85,252 | $5.83M | 0.48% | −3,122−3.5% | Reduced |
| Citadel Advisors LLC | 83,822 | $5.73M | 0.00% | +83,822 | New |
| Advisor Group Holdings, Inc. | 82,156 | $5.62M | 0.01% | +5,980+7.9% | Added |
| Van Hulzen Asset Management, LLC | 77,934 | $5.33M | 0.39% | −638−0.8% | Reduced |
| Advisory Services Network, LLC | 76,407 | $5.22M | 0.07% | +2,734+3.7% | Added |
| Intellectus Partners, LLC | 76,266 | $5.21M | 1.01% | −275−0.4% | Reduced |
| SCS Capital Management LLC | 75,957 | $5.19M | 0.06% | 00.0% | Unchanged |
| Haven Private, LLC | 73,437 | $5.02M | 2.20% | −112−0.2% | Reduced |
| Mercer Global Advisors Inc | 72,584 | $4.96M | 0.01% | +23,951+49.2% | Added |
| Farther Finance Advisors, LLC | 72,070 | $4.93M | 0.05% | +1,190+1.7% | Added |
| Variant Private Wealth, LLC | 71,666 | $4.90M | 5.09% | −25,820−26.5% | Reduced |
| Envestnet Asset Management Inc | 69,568 | $4.76M | 0.00% | −26,305−27.4% | Reduced |
| WESCAP Management Group, Inc. | 69,176 | $4.73M | 0.96% | −3,353−4.6% | Reduced |
| Guild Investment Management, Inc. | 67,325 | $4.60M | 3.41% | +390+0.6% | Added |
| Palumbo Wealth Management LLC | 67,259 | $4.60M | 1.13% | +67,259 | New |
| Ascension Capital Advisors, Inc. | 65,907 | $4.51M | 1.55% | −2,546−3.7% | Reduced |
| Santa Monica Partners LP | 64,932 | $4.44M | 2.69% | 00.0% | Unchanged |
| Global Retirement Partners, LLC | 64,428 | $4.40M | 0.08% | +1,074+1.7% | Added |
| MONECO Advisors, LLC | 64,271 | $4.39M | 0.35% | −5,149−7.4% | Reduced |
| Kovitz Investment Group Partners, LLC | 64,222 | $4.39M | 0.10% | +41,120+178.0% | Added |
| Seldon Capital LP | 64,207 | $4.39M | 1.52% | −1,900−2.9% | Reduced |
| Cerity Partners LLC | 62,791 | $4.29M | 0.01% | +10,923+21.1% | Added |
| NewEdge Wealth, LLC | 60,855 | $4.16M | 0.05% | +284+0.5% | Added |
| Blue Square Asset Management, LLC | 60,217 | $4.12M | 1.83% | −19,994−24.9% | Reduced |
| Pekin Hardy Strauss, Inc. | 58,419 | $3.99M | 0.37% | +6,881+13.4% | Added |
| Keystone Financial Group | 56,312 | $3.85M | 0.28% | +83+0.1% | Added |
| Legacy Wealth Asset Management, LLC | 56,309 | $3.85M | 0.95% | −7,524−11.8% | Reduced |
| Smithfield Trust Co | 56,195 | $3.84M | 0.17% | 00.0% | Unchanged |
| Virtu Financial LLC | 55,584 | $3.80M | 0.15% | +32,573+141.6% | Added |
| Bleakley Financial Group, LLC | 55,363 | $3.78M | 0.07% | +65+0.1% | Added |
| Kestra Private Wealth Services, LLC | 55,008 | $3.76M | 0.05% | 00.0% | Unchanged |
| Independent Financial Group, LLC | 53,929 | $3.69M | 0.08% | −1,989−3.6% | Reduced |
| NTV Asset Management LLC | 52,485 | $3.59M | 0.38% | −20.0% | Reduced |
| Innovative Advisory Group, LLC | 52,365 | $3.58M | 2.35% | −889−1.7% | Reduced |
| Brown Advisory Inc | 51,616 | $3.53M | 0.00% | 00.0% | Unchanged |
| Convergence Financial, LLC | 51,460 | $3.52M | 0.51% | 00.0% | Unchanged |
| Verde Capital Management | 51,322 | $3.51M | 0.75% | −687−1.3% | Reduced |
| Beck Capital Management, LLC | 49,845 | $3.41M | 0.81% | −2,177−4.2% | Reduced |
| CI Private Wealth, LLC | 48,585 | $3.32M | 0.00% | +1,052+2.2% | Added |
| US Bancorp | 47,613 | $3.25M | 0.00% | −3,110−6.1% | Reduced |
| Merit Financial Group, LLC | 47,418 | $3.24M | 0.03% | −8,231−14.8% | Reduced |
| The PNC Financial Services Group, Inc. | 46,863 | $3.20M | 0.00% | −2,876−5.8% | Reduced |
| EFG International AG | 45,050 | $3.08M | 0.06% | +45,050 | New |
| Proficio Capital Partners LLC | 44,162 | $3.02M | 0.21% | −265−0.6% | Reduced |
| Certior Financial Group, LLC | 43,676 | $2.99M | 2.03% | −40−0.1% | Reduced |
| Fagan Associates, Inc. | 43,053 | $2.94M | 0.39% | −231−0.5% | Reduced |
| HFG Wealth Management, LLC | 43,020 | $2.94M | 1.62% | −2,102−4.7% | Reduced |
| GWM Advisors LLC | 42,652 | $2.92M | 0.01% | −5,278−11.0% | Reduced |
| Wealthspire Advisors, LLC | 42,395 | $2.90M | 0.02% | −318−0.7% | Reduced |
| Brookstone Capital Management | 40,506 | $2.77M | 0.03% | −81,037−66.7% | Reduced |
| We Are One Seven, LLC | 39,296 | $2.69M | 0.05% | +4,384+12.6% | Added |