Vault-13

GRAYSCALE BITCOIN MINI TR ET BTC

SHS NEW · ETP · CUSIP 389930207

405 institutional holders +40 vs Q4 2024
13,119,01813.1m shares reported held*
$479.9mreported value*
84 new 109 added 69 reduced 42 sold out net sold ≈ $24.0m (-670.6k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $36.58. Options: 7 managers hold calls ($15.0m notional), 7 hold puts ($7.4m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 24: 2Q4 24: 365Q1 25: 405405Q3 24Q4 24Q1 25
Numbers
QuarterHolders
Q3 20242
Q4 2024365
Q1 2025405

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 24: 327 bought or addedQ4 24: 2 cut or sold outQ4 24Q1 25: 193 bought or addedQ1 25: 111 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q4 20243272
Q1 2025193111

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ2 24 calls: $0Q2 24 puts: $0Q2 24P/C —Q3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $10.5mQ4 24 puts: $6.6mQ4 24P/C 0.62Q1 25 calls: $15.0mQ1 25 puts: $7.4mQ1 25P/C 0.49
Numbers
QuarterCallsPutsP/C
Q2 2024$0$0—
Q3 2024$0$0—
Q4 2024$10.5m$6.6m0.62
Q1 2025$15.0m$7.4m0.49

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +1,025,947+1.0m
Tidal Investments LLC New +289,179+289.2k
HFG Wealth Management, LLC New +179,427+179.4k
KALEIDOSCOPE CAPITAL LP Added +152,250+152.2k
Reliant Wealth Planning New +151,905+151.9k
DRW Securities, LLC New +126,531+126.5k
ShoreHaven Wealth Partners, LLC New +79,436+79.4k
JPMORGAN CHASE & CO Added +76,494+76.5k
MML INVESTORS SERVICES, LLC Added +75,451+75.5k
Spahn Wealth & Retirement LLC New +62,071+62.1k

Biggest sellers

JANE STREET GROUP, LLC Reduced -2,688,417-2.7m
IMC-Chicago, LLC Sold out -416,776-416.8k
Hunting Hill Global Capital, LLC Sold out -129,272-129.3k
JW Asset Management, LLC Sold out -107,000-107.0k
ParaFi Capital LP Reduced -100,000-100.0k
Simplify Asset Management Inc. Sold out -99,349-99.3k
Focus Partners Wealth Reduced -72,644-72.6k
Ovata Capital Management Ltd Sold out -60,460-60.5k
Cetera Investment Advisers Reduced -46,947-46.9k
CITADEL ADVISORS LLC Sold out -38,747-38.7k

Biggest calls

CITADEL ADVISORS LLC Added $5.5m151.7k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.0m109.5k shares
IMC-Chicago, LLC Added $3.8m103.7k shares
JANE STREET GROUP, LLC Added $835.6k22.9k shares
SIMPLEX TRADING, LLC Added $780.0k21.4k shares
GROUP ONE TRADING LLC Added $80.3k2.2k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SIMPLEX TRADING, LLC Added $2.5m68.0k shares
IMC-Chicago, LLC Added $2.0m54.1k shares
CITADEL ADVISORS LLC Reduced $1.4m38.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.3m35.6k shares
JANE STREET GROUP, LLC Reduced $204.3k5.6k shares
GROUP ONE TRADING LLC Added $18.2k500 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q1 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HORIZON KINETICS ASSET MANAGEMENT LLC 1.27% of their portfolio NEW YORK, NY 3,060,6363.1m $111.7m $111.7m 1.27% Reduced -3.7k -3,666
2 MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 1,794,8581.8m $65.5m $65.5m 0.06% Added +1.0m +1,025,947
3 Sloy Dahl & Holst, LLC 4.08% of their portfolio Vancouver, WA 639,141639.1k $23.3m $23.3m 4.08% Added +23.0k +22,966
4 EMORY UNIVERSITY 89.22% of their portfolio ATLANTA, GA 535,781535.8k $19.6m $19.6m 89.22% Unchanged
5 ParaFi Capital LP 7.47% of their portfolio NEW YORK, NY 420,000420.0k $15.3m $15.3m 7.47% Reduced -100.0k -100,000
6 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 292,481292.5k $10.7m $10.7m 0.01% Reduced -840 -840
7 Tidal Investments LLC 0.09% of their portfolio Milwaukee, WI 289,179289.2k $10.6m $10.6m 0.09% New
8 KALEIDOSCOPE CAPITAL LP 6.04% of their portfolio BOSTON, MA 278,595278.6k $10.2m $10.2m 6.04% Added +152.2k +152,250
9 Multicoin Capital Management, LLC 10.07% of their portfolio AUSTIN, TX 264,361264.4k $9.6m $9.6m 10.07% Unchanged
10 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 254,335254.3k $9.3m $9.3m 0.02% Reduced -2.7m -2,688,417
11 EagleClaw Capital Managment, LLC 1.20% of their portfolio BOSTON, MA 209,556209.6k $7.6m $7.6m 1.20% Added +5.2k +5,150
12 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 186,754186.8k $6.8m $6.8m 0.00% Reduced -5.5k -5,537
13 HFG Wealth Management, LLC 4.55% of their portfolio The Woodlands, TX 179,427179.4k $7.5m $7.5m 4.55% New
14 Reliant Wealth Planning 2.53% of their portfolio LOUISVILLE, KY 151,905151.9k $5.5m $5.5m 2.53% New
15 Moors & Cabot, Inc. 0.26% of their portfolio BOSTON, MA 138,555138.6k $5.1m $5.1m 0.26% Added +38.5k +38,521
16 DRW Securities, LLC 0.39% of their portfolio CHICAGO, IL 126,531126.5k $4.6m $4.6m 0.39% New
17 Beaumont Financial Advisors, LLC 0.35% of their portfolio NEEDHAM, MA 121,233121.2k $4.4m $4.4m 0.35% Added +700 +700
18 One Charles Private Wealth Services, LLC 1.34% of their portfolio HINGHAM, MA 113,315113.3k $4.1m $4.1m 1.34% Added +8.1k +8,126
19 Mariner, LLC 0.01% of their portfolio Overland Park, KS 102,144102.1k $3.7m $3.7m 0.01% Added +43.1k +43,074
20 Redhawk Wealth Advisors, Inc. 0.49% of their portfolio MINNEAPOLIS, MN 99,63899.6k $3.6m $3.6m 0.49% Added +4.2k +4,231
21 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 92,46892.5k $3.4m $3.4m 0.01% Added +75.5k +75,451
22 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 83,89583.9k $3.1m $3.1m 0.01% Added +18.1k +18,065
23 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 79,59079.6k $2.9m $2.9m 0.01% Added +3.5k +3,466
24 ShoreHaven Wealth Partners, LLC 1.39% of their portfolio Red Bank, NJ 79,43679.4k $2.9m $2.9m 1.39% New
25 MAD RIVER INVESTORS 1.21% of their portfolio BOSTON, MA 78,28678.3k $2.9m $2.9m 1.21% Added +200 +200
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 78,26778.3k $2.9m $2.9m 0.00% Added +54.3k +54,263
27 Pasadena Private Wealth, LLC 0.55% of their portfolio PASADENA, CA 78,19878.2k $2.9m $2.9m 0.55% Added +22.5k +22,472
28 Focus Partners Wealth 0.01% of their portfolio ST LOUIS, MO 77,54877.5k $2.8m $2.8m 0.01% Reduced -72.6k -72,644
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 76,61676.6k $2.8m $2.8m 0.00% Added +76.5k +76,494
30 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 71,91871.9k $2.6m $2.6m 0.00% Added +9.4k +9,412
31 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 70,50970.5k $2.6m $2.6m 0.01% Reduced -2.2k -2,204
32 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 70,02570.0k $2.6m $2.6m 0.00% Added +20.1k +20,116
33 Spahn Wealth & Retirement LLC 1.66% of their portfolio SCOTTSDALE, AZ 62,07162.1k $2.3m $2.3m 1.66% New
34 KINGSWOOD WEALTH ADVISORS, LLC 0.20% of their portfolio SAN DIEGO, CA 61,32861.3k $2.2m $2.2m 0.20% Added +581 +581
35 B. Riley Wealth Advisors, Inc. 0.06% of their portfolio MEMPHIS, TN 57,45957.5k $2.1m $2.1m 0.06% Added +50.0k +50,031
36 RIVERSEDGE ADVISORS, LLC 0.46% of their portfolio Wilmington, DE 56,63256.6k $2.1m $2.1m 0.46% New
37 Merit Financial Group, LLC 0.03% of their portfolio ALPHARETTA, GA 51,79551.8k $1.9m $1.9m 0.03% Added +16.2k +16,229
38 Fielder Capital Group LLC 0.53% of their portfolio NASHVILLE, TN 49,95050.0k $1.8m $1.8m 0.53% Added +6.4k +6,369
39 Apriem Advisors 0.21% of their portfolio IRVINE, CA 49,35749.4k $1.8m $1.8m 0.21% Added +31.3k +31,282
40 Pettinga Financial Advisors LLC 0.42% of their portfolio EVANSVILLE, IN 49,09349.1k $1.8m $1.8m 0.42% Added +2.3k +2,335
41 Quadcap Wealth Management, LLC 0.25% of their portfolio Frisco, TX 47,98048.0k $1.8m $1.8m 0.25% New
42 Claro Advisors Inc. 0.22% of their portfolio BOSTON, MA 44,88244.9k $1.6m $1.6m 0.22% Added +2.4k +2,417
43 Balboa Wealth Partners 0.38% of their portfolio SCOTTSDALE, AZ 42,82142.8k $1.6m $1.6m 0.38% Added +28.4k +28,353
44 Global Endowment Management, LP 0.19% of their portfolio CHARLOTTE, NC 39,59339.6k $1.4m $1.4m 0.19% Unchanged
45 Van Hulzen Asset Management, LLC 0.13% of their portfolio EL DORADO HILLS, CA 38,55338.6k $1.4m $1.4m 0.13% Added +1.2k +1,222
46 Weil Company, Inc. 0.39% of their portfolio SAN DIEGO, CA 35,85835.9k $1.3m $1.3m 0.39% New
47 Consolidated Portfolio Review Corp 0.21% of their portfolio WOODBURY, NY 35,12835.1k $1.3m $1.3m 0.21% Reduced -126 -126
48 Gainplan LLC 0.82% of their portfolio BLOOMFIELD HILLS, MI 34,68434.7k $1.3m $1.3m 0.82% New
49 Aristides Capital LLC 0.45% of their portfolio LOUISVILLE, KY 32,98433.0k $1.2m $1.2m 0.45% Unchanged
50 SIMPLEX TRADING, LLC 0.04% of their portfolio CHICAGO, IL 32,12132.1k $1.2m $1.2m 0.04% Added +22.6k +22,557
51 Aries Wealth Management 0.32% of their portfolio PORTLAND, ME 31,84931.8k $1.2m $1.2m 0.32% Added +17.4k +17,376
52 Brookstone Capital Management 0.02% of their portfolio WHEATON, IL 31,55931.6k $1.2m $1.2m 0.02% New
53 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 31,54531.5k $1.2m $1.2m 0.00% Added +3.4k +3,427
54 Birch Hill Investment Advisors LLC 0.05% of their portfolio Boston, MA 30,76130.8k $1.1m $1.1m 0.05% Added +3.3k +3,259
55 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 30,74830.7k $1.1m $1.1m 0.00% Added +3.5k +3,512
56 RBF Capital, LLC 0.07% of their portfolio RENO, NV 30,00030.0k $1.1m $1.1m 0.07% Unchanged
57 Financial Security Advisor, Inc. 0.28% of their portfolio VIRGINIA BEACH, VA 29,77429.8k $1.1m $1.1m 0.28% New
58 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 29,26029.3k $1.1m $1.1m 0.00% Reduced -25.8k -25,800
59 BECK CAPITAL MANAGEMENT, LLC 0.31% of their portfolio AUSTIN, TX 28,66628.7k $1.0m $1.0m 0.31% Added +5.7k +5,686
60 TRAPHAGEN INVESTMENT ADVISORS LLC 0.11% of their portfolio ORADELL, NJ 27,95628.0k $1.0m $1.0m 0.11% Reduced -1.3k -1,272
61 MEITAV INVESTMENT HOUSE LTD 0.02% of their portfolio BENE-BERAQ, L3 27,87427.9k $1.0m $1.0m 0.02% New
62 SJS Investment Consulting Inc. 0.16% of their portfolio SYLVANIA, OH 26,00126.0k $948.8k $948.8k 0.16% Added +20.3k +20,267
63 Proficio Capital Partners LLC 0.07% of their portfolio NEWTON, MA 25,81525.8k $961.1k $961.1k 0.07% Added +3.7k +3,723
64 Addison Capital Co 0.36% of their portfolio Conshohocken, PA 25,31625.3k $923.8k $923.8k 0.36% Reduced -15 -15
65 Virtu Financial LLC 0.05% of their portfolio New York, NY 24,87724.9k $908.0k $908.0k 0.05% New
66 LAKEWOOD CAPITAL MANAGEMENT, LP 0.08% of their portfolio New York, NY 24,70024.7k $901.3k $901.3k 0.08% Unchanged
67 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 23,91623.9k $872.7k $872.7k 0.00% Added +4.3k +4,300
68 Bleakley Financial Group, LLC 0.03% of their portfolio PARSIPPANY, NJ 23,57923.6k $860.4k $860.4k 0.03% Added +931 +931
69 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 23,34423.3k $851.8k $851.8k 0.01% Added +978 +978
70 DRIVE WEALTH MANAGEMENT, LLC 0.20% of their portfolio LEHI, UT 23,09123.1k $842.6k $842.6k 0.20% Unchanged
71 Foundations Investment Advisors, LLC 0.02% of their portfolio PHOENIX, AZ 22,74922.7k $830.1k $830.1k 0.02% Added +548 +548
72 EQ WEALTH ADVISORS, LLC 0.65% of their portfolio DALLAS, TX 22,35122.4k $815.6k $815.6k 0.65% Added +3.2k +3,172
73 Spire Wealth Management 0.03% of their portfolio MCLEAN, VA 21,73521.7k $793.1k $793.1k 0.03% Reduced -394 -394
74 SLT Holdings LLC 0.74% of their portfolio SCOTTSDALE, AZ 21,57921.6k $787.4k $787.4k 0.74% Added +331 +331
75 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 21,57821.6k $787.4k $787.4k 0.00% Added +12.7k +12,666
76 ONCE CAPITAL MANAGEMENT, LLC 0.36% of their portfolio NEW YORK, NY 21,54021.5k $786.0k $786.0k 0.36% Unchanged
77 Joseph P. Lucia & Associates, LLC 0.36% of their portfolio Yorktown Heights, NY 21,50021.5k $784.5k $784.5k 0.36% Added +7.6k +7,627
78 AXXCESS WEALTH MANAGEMENT, LLC 0.02% of their portfolio CARLSBAD, CA 21,20221.2k $773.7k $773.7k 0.02% New
79 Carnegie Investment Counsel 0.02% of their portfolio PEPPER PIKE, OH 20,28520.3k $700.4k $700.4k 0.02% Added +1.5k +1,509
80 Red Door Wealth Management, LLC 0.11% of their portfolio Memphis, TN 20,07120.1k $732.4k $732.4k 0.11% Reduced -55 -55
81 Integrated Wealth Concepts LLC 0.01% of their portfolio WALTHAM, MA 20,04320.0k $731.4k $731.4k 0.01% Added +1.1k +1,137
82 Citrine Capital LLC 0.44% of their portfolio SAN FRANCISCO, CA 19,39519.4k $707.7k $707.7k 0.44% Reduced -558 -558
83 BLUE SQUARE ASSET MANAGEMENT, LLC 0.38% of their portfolio NEW YORK, NY 19,23019.2k $701.7k $701.7k 0.38% Reduced -373 -373
84 Larson Financial Group LLC 0.03% of their portfolio ST LOUIS, MO 18,78918.8k $685.6k $685.6k 0.03% Reduced -1.1k -1,087
85 Upper Left Wealth Management, LLC 0.49% of their portfolio TAMPA, FL 18,57318.6k $677.7k $677.7k 0.49% New
86 Legacy Wealth Asset Management, LLC 0.18% of their portfolio WOODBURY, MN 18,19618.2k $664.0k $664.0k 0.18% Reduced -96 -96
87 TITLEIST ASSET MANAGEMENT, LLC 0.07% of their portfolio SAN ANTONIO, TX 16,35416.4k $596.8k $596.8k 0.07% Added +2.3k +2,287
88 Intellectus Partners, LLC 0.14% of their portfolio SAN FRANCISCO, CA 16,02416.0k $584.7k $584.7k 0.14% Reduced -292 -292
89 FINANCIAL COUNSELORS INC 0.01% of their portfolio Overland Park, KS 15,90515.9k $580.4k $580.4k 0.01% New
90 Haven Private, LLC 0.32% of their portfolio ORLANDO, FL 15,69815.7k $572.8k $572.8k 0.32% Added +721 +721
91 3EDGE Asset Management, LP 0.04% of their portfolio Naples, FL 15,65715.7k $571.3k $571.3k 0.04% New
92 ICONIQ Capital, LLC 0.01% of their portfolio SAN FRANCISCO, CA 15,58615.6k $568.7k $568.7k 0.01% Unchanged
93 Fiduciary Trust Co 0.01% of their portfolio Boston, MA 15,43015.4k $563.0k $563.0k 0.01% Added +7 +7
94 SCS Capital Management LLC 0.01% of their portfolio BOSTON, MA 15,17115.2k $553.6k $553.6k 0.01% New
95 ACORN FINANCIAL ADVISORY SERVICES INC /ADV 0.10% of their portfolio Reston, VA 15,04815.0k $549.1k $549.1k 0.10% Added +6.9k +6,875
96 Almanack Investment Partners, LLC. 0.11% of their portfolio WAYNE, PA 14,68614.7k $535.9k $535.9k 0.11% Added +9.6k +9,560
97 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 13,91813.9k $507.9k $507.9k 0.01% Added +502 +502
98 Archer Investment Management, LLC 0.35% of their portfolio AUSTIN, TX 13,84713.8k $505.3k $505.3k 0.35% New
99 NewEdge Wealth, LLC 0.01% of their portfolio STAMFORD, CT 13,63013.6k $497.4k $497.4k 0.01% Reduced -2.6k -2,559
100 Guild Investment Management, Inc. 0.51% of their portfolio WESTLAKE VILLAGE, CA 13,43413.4k $490.2k $490.2k 0.51% Reduced -25 -25