Who owns GBTC (GBTC)
Which tracked institutional funds hold GBTC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See GBTC company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on GBTC is one-sided between 2025-Q4 and 2026-Q1: 21 added or opened and 225 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
GBTC’s largest tracked holder by dollar value, HORIZON KINETICS ASSET MANAGEMENT LLC, sizes it at 8.0% of its own reported 13F book, while the median holder sizes it at 0.3% of theirs — a 7.8pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in GBTC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 650 tracked filers holding GBTC, 171 increased or opened the position and 394 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in GBTC between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 10
- Qube Research & Technologies Ltd$6M
- Ridgepath Capital Management LLC$3M
- FRANKLIN RESOURCES INC$2M
- QTR Family Wealth, LLC$1M
- Professional Financial Advisors, LLC$1M
- Jump Financial, LLC$1M
Full exits 27
- Multicoin Capital Management, LLC$21M
- DRW Securities, LLC$16M
- OLD MISSION CAPITAL LLC$15M
- Palumbo Wealth Management LLC$5M
- Ascension Capital Advisors, Inc.$5M
- Global Retirement Partners, LLC$4M
Largest adds
- CITADEL ADVISORS LLC$19M
- Vident Advisory, LLC$16M
- JANE STREET GROUP, LLC$12M
- Virtu Financial LLC$11M
- FIFTH THIRD BANCORP$2M
- SMITH, MOORE & CO.$2M
Largest trims
- HORIZON KINETICS ASSET MANAGEMENT LLC$226M
- LPL Financial LLC$19M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$14M
- HighTower Advisors, LLC$10M
- Greenwich Wealth Management LLC$9M
- WEALTH ENHANCEMENT ADVISORY SERVICES, LLC$7M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC trimmed | 14,004,882 | $739M | 47.3% | 2026-Q1 |
| LPL Financial LLC trimmed | 908,340 | $48M | 3.1% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 614,073 | $32M | 2.1% | 2026-Q1 |
| Greenwich Wealth Management LLC trimmed | 633,993 | $31M | 2.0% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 472,100 | $25M | 1.6% | 2026-Q1 |
| MSRH, LLC trimmed | 419,620 | $22M | 1.4% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 406,900 | $21M | 1.4% | 2026-Q1 |
| MAD RIVER INVESTORS trimmed | 360,139 | $19M | 1.2% | 2026-Q1 |
| EagleClaw Capital Managment, LLC added | 355,791 | $19M | 1.2% | 2026-Q1 |
| Wealthfront Advisers LLC trimmed | 341,133 | $18M | 1.2% | 2026-Q1 |
| Moors & Cabot, Inc. trimmed | 311,393 | $16M | 1.1% | 2026-Q1 |
| Vident Advisory, LLC added | 303,100 | $16M | 1.0% | 2026-Q1 |
| Virtu Financial LLC added | 282,831 | $15M | 1.0% | 2026-Q1 |
| KINGSWOOD WEALTH ADVISORS, LLC trimmed | 279,960 | $15M | 0.9% | 2026-Q1 |
| One Charles Private Wealth Services, LLC trimmed | 276,992 | $15M | 0.9% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 263,972 | $14M | 0.9% | 2026-Q1 |
| Beaumont Financial Advisors, LLC trimmed | 258,734 | $14M | 0.9% | 2026-Q1 |
| Cambridge Investment Research Advisors, Inc. trimmed | 253,269 | $13M | 0.9% | 2026-Q1 |
| Cresset Asset Management, LLC trimmed | 243,712 | $13M | 0.8% | 2026-Q1 |
| Focus Partners Wealth trimmed | 216,502 | $11M | 0.7% | 2026-Q1 |
| Mariner, LLC added | 186,939 | $10M | 0.6% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 178,803 | $9M | 0.6% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 174,477 | $9M | 0.6% | 2026-Q1 |
| Lido Advisors, LLC added | 165,469 | $9M | 0.6% | 2026-Q1 |
| Fiduciary Alliance LLC added | 146,098 | $9M | 0.5% | 2026-Q1 |
| RBF Capital, LLC | 150,000 | $8M | 0.5% | 2026-Q1 |
| Atlas Wealth Partners, LLC trimmed | 140,312 | $7M | 0.5% | 2026-Q1 |
| Sloy Dahl & Holst, LLC trimmed | 133,438 | $7M | 0.5% | 2026-Q1 |
| Creative Planning trimmed | 131,791 | $7M | 0.4% | 2026-Q1 |
| Foundations Investment Advisors, LLC added | 129,027 | $7M | 0.4% | 2026-Q1 |
| Sequoia Financial Advisors, LLC added | 127,176 | $7M | 0.4% | 2026-Q1 |
| SLT Holdings LLC added | 124,037 | $7M | 0.4% | 2026-Q1 |
| LAKEWOOD CAPITAL MANAGEMENT, LP | 123,500 | $7M | 0.4% | 2026-Q1 |
| Pasadena Private Wealth, LLC trimmed | 117,623 | $6M | 0.4% | 2026-Q1 |
| IEQ CAPITAL, LLC | 117,106 | $6M | 0.4% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 115,300 | $6M | 0.4% | 2026-Q1 |
| Fielder Capital Group LLC trimmed | 111,292 | $6M | 0.4% | 2026-Q1 |
| ONCE CAPITAL MANAGEMENT, LLC | 107,700 | $6M | 0.4% | 2026-Q1 |
| BLAIR WILLIAM & CO/IL trimmed | 107,079 | $6M | 0.4% | 2026-Q1 |
| Qube Research & Technologies Ltd added | 106,452 | $6M | 0.4% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 105,842 | $6M | 0.4% | 2026-Q1 |
| Birch Hill Investment Advisors LLC | 102,850 | $5M | 0.3% | 2026-Q1 |
| Citrine Capital LLC | 101,811 | $5M | 0.3% | 2026-Q1 |
| ICONIQ Capital, LLC | 101,575 | $5M | 0.3% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC | 100,000 | $5M | 0.3% | 2026-Q1 |
| Red Door Wealth Management, LLC trimmed | 95,610 | $5M | 0.3% | 2026-Q1 |
| Larson Financial Group LLC trimmed | 90,982 | $5M | 0.3% | 2026-Q1 |
| MORGAN STANLEY trimmed | 86,496 | $5M | 0.3% | 2026-Q1 |
| TRAPHAGEN INVESTMENT ADVISORS LLC trimmed | 84,556 | $4M | 0.3% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 83,310 | $4M | 0.3% | 2026-Q1 |
| Claro Advisors Inc. trimmed | 82,845 | $4M | 0.3% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 81,188 | $4M | 0.3% | 2026-Q1 |
| Advisory Services Network, LLC added | 78,172 | $4M | 0.3% | 2026-Q1 |
| Van Hulzen Asset Management, LLC trimmed | 77,634 | $4M | 0.3% | 2026-Q1 |
| Intellectus Partners, LLC added | 76,470 | $4M | 0.3% | 2026-Q1 |
| SCS Capital Management LLC trimmed | 75,857 | $4M | 0.3% | 2026-Q1 |
| MERCER GLOBAL ADVISORS INC /ADV added | 73,732 | $4M | 0.2% | 2026-Q1 |
| Haven Private, LLC trimmed | 73,162 | $4M | 0.2% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 72,634 | $4M | 0.2% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 72,383 | $4M | 0.2% | 2026-Q1 |
| Variant Private Wealth, LLC trimmed | 71,640 | $4M | 0.2% | 2026-Q1 |
| Guild Investment Management, Inc. added | 67,640 | $4M | 0.2% | 2026-Q1 |
| SANTA MONICA PARTNERS LP | 64,932 | $3M | 0.2% | 2026-Q1 |
| NorthCoast Asset Management LLC added | 64,322 | $3M | 0.2% | 2026-Q1 |
| Keystone Financial Group added | 57,942 | $3M | 0.2% | 2026-Q1 |
| MONECO ADVISORS, LLC trimmed | 63,342 | $3M | 0.2% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 60,950 | $3M | 0.2% | 2026-Q1 |
| NewEdge Wealth, LLC trimmed | 60,452 | $3M | 0.2% | 2026-Q1 |
| Pekin Hardy Strauss, Inc. trimmed | 56,924 | $3M | 0.2% | 2026-Q1 |
| Smithfield Trust Co | 56,195 | $3M | 0.2% | 2026-Q1 |
| SELDON CAPITAL LP trimmed | 56,100 | $3M | 0.2% | 2026-Q1 |
| Legacy Wealth Asset Management, LLC trimmed | 55,460 | $3M | 0.2% | 2026-Q1 |
| KESTRA PRIVATE WEALTH SERVICES, LLC trimmed | 52,298 | $3M | 0.2% | 2026-Q1 |
| NTV Asset Management LLC trimmed | 51,294 | $3M | 0.2% | 2026-Q1 |
| Convergence Financial, LLC trimmed | 51,267 | $3M | 0.2% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 50,998 | $3M | 0.2% | 2026-Q1 |
| Verde Capital Management trimmed | 50,734 | $3M | 0.2% | 2026-Q1 |
| BROWN ADVISORY INC trimmed | 50,416 | $3M | 0.2% | 2026-Q1 |
| Ridgepath Capital Management LLC new | 50,324 | $3M | 0.2% | 2026-Q1 |
| Interchange Capital Partners, LLC added | 40,493 | $3M | 0.2% | 2026-Q1 |
| SMITH, MOORE & CO. added | 48,061 | $3M | 0.2% | 2026-Q1 |
| Bleakley Financial Group, LLC trimmed | 47,819 | $3M | 0.2% | 2026-Q1 |
| Merit Financial Group, LLC trimmed | 47,306 | $2M | 0.2% | 2026-Q1 |
| Cerity Partners LLC trimmed | 46,244 | $2M | 0.2% | 2026-Q1 |
| IMC-Chicago, LLC added | 362,801 | $31M | 2.0% | 2025-Q2 stale |
| Multicoin Capital Management, LLC trimmed | 302,251 | $21M | 1.3% | 2025-Q4 stale |
| DRW Securities, LLC added | 232,691 | $16M | 1.0% | 2025-Q4 stale |
| OLD MISSION CAPITAL LLC trimmed | 221,544 | $15M | 1.0% | 2025-Q4 stale |
| Aristides Capital LLC | 164,931 | $14M | 0.9% | 2025-Q2 stale |
| TB Alternative Assets Ltd. trimmed | 85,657 | $8M | 0.5% | 2025-Q3 stale |
| Consolidated Portfolio Review Corp trimmed | 72,812 | $7M | 0.4% | 2025-Q3 stale |
| J. Safra Sarasin Holding AG added | 73,100 | $5M | 0.3% | 2025-Q1 stale |
| Palumbo Wealth Management LLC new | 67,259 | $5M | 0.3% | 2025-Q4 stale |
| Ascension Capital Advisors, Inc. trimmed | 65,907 | $5M | 0.3% | 2025-Q4 stale |
| Global Retirement Partners, LLC added | 64,428 | $4M | 0.3% | 2025-Q4 stale |
| Watts Gwilliam & Co., LLC | 40,000 | $4M | 0.2% | 2025-Q3 stale |
| NewEdge Advisors, LLC trimmed | 42,652 | $3M | 0.2% | 2025-Q4 stale |
| Ribbit Management Company, LLC | 29,309 | $3M | 0.2% | 2025-Q3 stale |
| Gallacher Capital Management LLC trimmed | 39,451 | $3M | 0.2% | 2025-Q1 stale |
| Prosperity Wealth Management, Inc. added | 35,492 | $2M | 0.2% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.