DaveManuel.com · Institutional Ownership · Who Owns It
GRAYSCALE BITCOIN TRUST ETF (GBTC)
Institutional ownership reported to the SEC as of Q2 2026, across 32 quarters.
612
Reporting holders
$1.5B
Reported value
16.3%
Of shares outstanding
9.7%
Calls
2.8%
Puts
-56
Holder change
Institutions report 28,008,371 shares against 172,260,100 outstanding. Shares only - option lines are excluded, which is why this can be compared with the company at all. The count comes from the cover page of the company's own most recent report, so it is dated when that was filed rather than at quarter end.
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC | $552.6M | 12,139,990 | 6.27% | 15q | -13.3%-$84.9M |
| ALKEON CAPITAL MANAGEMENT LLC | $54.6M CALL | options only | 0.07% | 5q | OPTIONS |
| LPL Financial LLC | $39.9M | 876,469 | 0.01% | 10q | -3.5%-$1.5M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $35.6M incl. $32.2M options CALL+PUT | 75,774 | 0.00% | 10q | -81.4%-$155.7M |
| Vident Advisory, LLC | $31.9M incl. $31.8M options CALL+PUT | 1,752 | 0.23% | 4q | -99.4%-$5.5B |
| CITADEL ADVISORS LLC | $31.4M incl. $17.0M options CALL+PUT | 314,985 | 0.00% | 9q | HELD |
| JANE STREET GROUP, LLC | $30.1M incl. $14.6M options CALL+PUT | 340,363 | 0.00% | 10q | +28.9%+$6.8M |
| HighTower Advisors, LLC | $27.4M | 602,864 | 0.03% | 10q | -1.8%-$510.2K |
| Cambridge Investment Research Advisors, Inc. | $22.3M | 489,056 | 0.03% | 10q | +93.1%+$10.7M |
| Virtu Financial LLC | $16.4M | 360,930 | 0.52% | 7q | +27.6%+$3.6M |
| MAD RIVER INVESTORS | $16.4M | 360,139 | 6.11% | 10q | HELD |
| EagleClaw Capital Managment, LLC | $16.3M | 358,216 | 2.19% | 10q | +0.7%+$110.4K |
| IMC-Chicago, LLC | $13.9M CALL+PUT | options only | 0.00% | 3q | OPTIONS |
| Moors & Cabot, Inc. | $13.8M | 303,753 | 0.54% | 10q | -2.5%-$347.8K |
| Mariner, LLC | $12.7M | 278,538 | 0.01% | 10q | +49.0%+$4.2M |
| KINGSWOOD WEALTH ADVISORS, LLC | $12.7M | 278,391 | 0.51% | 13q | -0.6%-$71.4K |
| Wealthfront Advisers LLC | $12.1M | 265,593 | 0.02% | 9q | -22.1%-$3.4M |
| One Charles Private Wealth Services, LLC | $11.8M | 259,750 | 2.72% | 10q | -6.2%-$784.9K |
| Beaumont Financial Advisors, LLC | $11.4M | 249,612 | 0.72% | 9q | -3.5%-$415.2K |
| Cresset Asset Management, LLC | $10.5M | 231,216 | 0.04% | 10q | -5.1%-$568.8K |
| Quadrature Capital Ltd | $8.8M | 193,414 | 0.08% | 2q | +2096.6%+$8.4M |
| Focus Partners Wealth | $8.7M | 190,971 | 0.01% | 10q | -11.8%-$1.2M |
| COMMONWEALTH EQUITY SERVICES, LLC | $7.7M | 168,831 | 0.01% | 10q | -5.6%-$453.9K |
| Cetera Investment Advisers | $7.5M | 164,245 | 0.01% | 4q | -5.9%-$465.8K |
| Optiver Holding B.V. | $7.5M incl. $6.9M options CALL+PUT | 13,143 | 0.00% | 3q | -46.3%-$6.4M |
| SIMPLEX TRADING, LLC | $7.3M incl. $7.2M options CALL+PUT | 2,746 | 0.00% | 7q | HELD |
| RBF Capital, LLC | $6.8M | 150,000 | 0.28% | 10q | HELD |
| Atlas Wealth Partners, LLC | $6.4M | 139,612 | 6.94% | 8q | HELD |
| Lido Advisors, LLC | $6.3M | 138,522 | 0.02% | 10q | -16.3%-$1.2M |
| Sloy Dahl & Holst, LLC | $6.0M | 131,538 | 0.74% | 10q | -1.4%-$86.5K |
| Creative Planning | $6.0M | 131,082 | 0.00% | 10q | -0.5%-$32.3K |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $5.6M | 113,584 | 0.01% | 10q | -1.5%-$85.0K |
| LAKEWOOD CAPITAL MANAGEMENT, LP | $5.6M | 123,500 | 0.29% | 10q | HELD |
| Foundations Investment Advisors, LLC | $5.5M | 121,134 | 0.06% | 10q | -6.1%-$359.3K |
| Pasadena Private Wealth, LLC | $5.4M | 117,609 | 0.68% | 9q | HELD |
| SLT Holdings LLC | $5.3M | 116,930 | 3.32% | 7q | -5.7%-$323.5K |
| Fielder Capital Group LLC | $5.1M | 111,292 | 1.10% | 10q | HELD |
| ONCE CAPITAL MANAGEMENT, LLC | $4.9M | 107,700 | 0.40% | 10q | HELD |
| Larson Financial Group LLC | $4.9M | 107,435 | 0.13% | 10q | +18.1%+$748.9K |
| BLAIR WILLIAM & CO/IL | $4.9M | 106,864 | 0.01% | 10q | HELD |
| Birch Hill Investment Advisors LLC | $4.7M | 102,850 | 0.19% | 10q | HELD |
| Convergence Financial, LLC | $4.7M | 102,534 | 0.37% | 10q | +100.0%+$2.3M |
| ICONIQ Capital, LLC | $4.6M | 101,575 | 0.13% | 8q | HELD |
| MILLENNIUM MANAGEMENT LLC | $4.6M | 100,000 | 0.00% | 10q | HELD |
| Sequoia Financial Advisors, LLC | $4.4M | 96,213 | 0.02% | 10q | -24.3%-$1.4M |
| WealthCare Asset Management, LLC | $4.3M | 95,422 | 1.80% | new | NEW |
| Red Door Wealth Management, LLC | $4.3M | 94,987 | 0.39% | 9q | -0.7%-$28.4K |
| Kestra Advisory Services, LLC | $4.3M | 94,966 | 0.01% | 10q | -10.3%-$495.1K |
| OSAIC HOLDINGS, INC. | $4.1M | 89,673 | 0.00% | 10q | +10.5%+$386.2K |
| TRAPHAGEN INVESTMENT ADVISORS LLC | $3.8M | 83,314 | 0.27% | 10q | -1.5%-$56.5K |
| Claro Advisors Inc. | $3.8M | 82,836 | 0.40% | 10q | HELD |
| MORGAN STANLEY | $3.6M | 78,170 | 0.00% | 10q | -9.6%-$379.0K |
| Intellectus Partners, LLC | $3.5M | 76,426 | 0.60% | 10q | HELD |
| MERCER GLOBAL ADVISORS INC /ADV | $3.5M | 76,284 | 0.00% | 10q | +3.5%+$116.2K |
| Advisory Services Network, LLC | $3.5M | 76,121 | 0.04% | 10q | -2.6%-$93.4K |
| Citrine Capital LLC | $3.5M | 75,952 | 1.28% | 7q | -25.4%-$1.2M |
| SCS Capital Management LLC | $3.5M | 75,857 | 0.03% | 6q | HELD |
| Farther Finance Advisors, LLC | $3.3M | 73,582 | 0.03% | 10q | +1.3%+$43.2K |
| Van Hulzen Asset Management, LLC | $3.3M | 72,892 | 0.24% | 10q | -6.1%-$215.9K |
| Haven Private, LLC | $3.3M | 72,261 | 1.25% | 7q | -1.2%-$41.0K |
| Variant Private Wealth, LLC | $3.3M | 71,518 | 3.66% | 7q | HELD |
| RAYMOND JAMES FINANCIAL INC | $3.2M | 71,319 | 0.00% | 7q | -14.4%-$545.8K |
| ENVESTNET ASSET MANAGEMENT INC | $3.2M | 69,663 | 0.00% | 10q | -3.8%-$123.8K |
| Arax Advisory Partners | $3.1M | 68,224 | 0.02% | 10q | +885.5%+$2.8M |
| Guild Investment Management, Inc. | $3.1M | 67,630 | 2.10% | 10q | HELD |
| NorthCoast Asset Management LLC | $2.9M | 64,322 | 0.06% | 8q | HELD |
| NewEdge Wealth, LLC | $2.8M | 60,452 | 0.03% | 10q | HELD |
| Keystone Financial Group | $2.7M | 59,355 | 0.16% | 10q | +2.4%+$64.3K |
| Pekin Hardy Strauss, Inc. | $2.6M | 56,924 | 0.23% | 10q | HELD |
| Legacy Wealth Asset Management, LLC | $2.5M | 55,149 | 0.55% | 10q | -0.6%-$14.2K |
| Brookstone Capital Management | $2.5M | 55,085 | 0.03% | 10q | +43.5%+$760.5K |
| Qube Research & Technologies Ltd | $2.3M | 51,618 | 0.00% | 2q | -51.5%-$2.5M |
| KESTRA PRIVATE WEALTH SERVICES, LLC | $2.3M | 50,732 | 0.03% | 10q | -3.0%-$71.3K |
| BROWN ADVISORY INC | $2.3M | 50,416 | 0.00% | 10q | HELD |
| NTV Asset Management LLC | $2.2M | 48,278 | 0.22% | 10q | -5.9%-$137.3K |
| INDEPENDENT FINANCIAL GROUP, LLC | $2.2M | 48,253 | 0.04% | 10q | -7.8%-$186.4K |
| SMITH, MOORE & CO. | $2.2M | 47,561 | 0.14% | 10q | -1.0%-$22.8K |
| Wealthspire Advisors, LLC | $2.2M | 47,488 | 0.01% | 10q | +6.1%+$124.6K |
| Verde Capital Management | $2.0M | 44,951 | 0.38% | 9q | -11.4%-$263.2K |
| Merit Financial Group, LLC | $2.0M | 44,855 | 0.01% | 10q | -5.2%-$111.6K |
| GROUP ONE TRADING LLC | $2.0M incl. $1.5M options CALL+PUT | 11,956 | 0.00% | 7q | +328.5%+$1.5M |
| EFG International AG | $2.0M | 43,550 | 0.04% | 3q | HELD |
| WESCAP Management Group, Inc. | $2.0M | 43,321 | 0.37% | 5q | HELD |
| Innovative Advisory Group, LLC | $1.9M | 42,627 | 1.47% | 7q | -8.7%-$186.0K |
| PNC Financial Services Group, Inc. | $1.9M | 42,358 | 0.00% | 10q | -3.1%-$62.1K |
| FAGAN ASSOCIATES, INC. | $1.9M | 41,822 | 0.23% | 10q | -1.3%-$25.4K |
| Cerity Partners LLC | $1.8M | 39,929 | 0.00% | 9q | -13.7%-$287.7K |
| Walleye Trading LLC | $1.8M CALL+PUT | options only | 0.00% | 6q | OPTIONS |
| CAPTRUST FINANCIAL ADVISORS | $1.8M | 38,984 | 0.00% | 10q | -1.5%-$27.9K |
| Beacon Pointe Advisors, LLC | $1.8M | 38,462 | 0.01% | 10q | +6.2%+$102.4K |
| Prosperity Financial Group, Inc. | $1.7M | 38,400 | 0.54% | 7q | -0.8%-$14.2K |
| Global Retirement Partners, LLC | $1.7M | 38,151 | 0.03% | 8q | -40.8%-$1.2M |
| STATE OF MICHIGAN RETIREMENT SYSTEM | $1.7M | 37,418 | 0.01% | new | NEW |
| Bleakley Financial Group, LLC | $1.7M | 36,489 | 0.02% | 10q | -23.7%-$515.7K |
| TigerOak Management, L.L.C. | $1.6M | 36,131 | 0.46% | 7q | HELD |
| Corient Private Wealth LP | $1.6M | 35,291 | 0.00% | 10q | -16.7%-$321.4K |
| Cyndeo Wealth Partners, LLC | $1.6M | 35,130 | 0.08% | 10q | -0.8%-$12.2K |
| Fiduciary Trust Co | $1.6M | 35,115 | 0.02% | 10q | HELD |
| WealthPlan Investment Management, LLC | $1.6M | 35,076 | 0.08% | 10q | +6.0%+$90.9K |
| Curi Capital, LLC | $1.6M | 34,815 | 0.02% | 10q | +12.0%+$169.7K |
Showing the largest 100 of 612 reported holders.
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 263 | $262.7M | 4,030,130 | 51 | 25 | 63 | 0.0% |
| Q2 2026 | 612 | $1.5B | 28,008,371 | 30 | 88 | 198 | 12.5% |
| Q1 2026 | 668 | $1.8B | 31,657,119 | 46 | 112 | 235 | 8.3% |
| Q4 2025 | 747 | $2.5B | 33,042,594 | 47 | 151 | 208 | 10.8% |
| Q3 2025 | 791 | $3.3B | 33,685,934 | 75 | 150 | 210 | 8.1% |
| Q2 2025 | 771 | $3.2B | 35,192,027 | 94 | 132 | 220 | 6.7% |
| Q1 2025 | 719 | $2.4B | 34,504,977 | 42 | 158 | 224 | 4.5% |
| Q4 2024 | 762 | $2.7B | 35,505,697 | 145 | 149 | 215 | 4.6% |
| Q3 2024 | 618 | $1.8B | 36,800,326 | 37 | 131 | 191 | 0.0% |
| Q2 2024 | 660 | $2.7B | 50,246,558 | 119 | 114 | 204 | 0.0% |
| Q1 2024 | 648 | $4.8B | 76,941,324 | 604 | 8 | 15 | 0.0% |
| Q4 2023 | 47 | $591.6M | 17,102,560 | 8 | 7 | 7 | 0.0% |
| Q3 2023 | 44 | $436.2M | 22,730,687 | 2 | 6 | 9 | 0.0% |
| Q2 2023 | 45 | $445.7M | 23,226,652 | 2 | 11 | 8 | 0.0% |
| Q1 2023 | 43 | $377.9M | 23,101,819 | 3 | 5 | 9 | 0.0% |
| Q4 2022 | 46 | $196.5M | 23,697,327 | 8 | 7 | 18 | 0.0% |
| Q3 2022 | 48 | $916.7M | 80,339,466 | 9 | 8 | 8 | 0.0% |
| Q2 2022 | 45 | $375.1M | 26,327,952 | 5 | 5 | 18 | 0.0% |
| Q1 2022 | 54 | $834.4M | 27,366,481 | 6 | 19 | 12 | 0.0% |
| Q4 2021 | 65 | $1.4B | 40,116,222 | 10 | 19 | 17 | 0.0% |
| Q3 2021 | 58 | $1.5B | 45,717,226 | 8 | 21 | 13 | 0.0% |
| Q2 2021 | 58 | $974.3M | 32,681,920 | 6 | 28 | 14 | 0.0% |
| Q1 2021 | 75 | $1.6B | 31,201,673 | 36 | 24 | 11 | 0.0% |
| Q4 2020 | 41 | $626.6M | 19,581,809 | 18 | 12 | 4 | 0.0% |
| Q3 2020 | 24 | $89.2M | 8,093,205 | 8 | 6 | 2 | 0.0% |
| Q2 2020 | 20 | $54.8M | 5,712,444 | 6 | 10 | 1 | 0.0% |
| Q1 2020 | 15 | $34.3M | 4,809,926 | 5 | 5 | 1 | 0.0% |
| Q4 2019 | 12 | $29.7M | 3,624,056 | 1 | 5 | 1 | 0.0% |
| Q3 2019 | 12 | $15.9M | 1,503,775 | 0 | 3 | 3 | 0.0% |
| Q2 2019 | 13 | $51.4M | 3,399,313 | 4 | 3 | 2 | 0.0% |
| Q1 2019 | 10 | $24.6M | 5,138,650 | 5 | 1 | 2 | 0.0% |
| Q4 2018 | 6 | $14.7M | 3,695,343 | 0 | 0 | 0 | 0.0% |