Grayscale Bitcoin Trust (GBTC)

• Market cap: $46.9B
• 1 day: 2.04%
• 5 days: 4.14%
• 1 month: -2.46%
• 3 months: 8.98%
• 6 months: 39.93%
• Year to date: 18.83%
• 1 year: 97.18%
• 5 years: 149.59%
• 10 years: 149.59%
• Sector: Financials
• Industry: Capital Markets

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

241% more call options, than puts

Call options by funds: $166M | Put options by funds: $48.7M

128% more first-time investments, than exits

New positions opened: 107 | Existing positions closed: 47

33% more capital invested

Capital invested by funds: $2.23B [Q1] → $2.96B (+$729M) [Q2]

7% more funds holding

Funds holding: 701 [Q1] → 750 (+49) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 22 [Q1] → 22 (+0) [Q2]

7.56% less ownership

Funds ownership: 14.4% [Q1] → 6.84% (-7.56%) [Q2]

45% less repeat investments, than reductions

Existing positions increased: 139 | Existing positions reduced: 253