Vault-13

GRAYSCALE BITCOIN MINI TR ET BTC

SHS NEW · ETP · CUSIP 389930207

491 institutional holders -24 vs Q4 2025
32,270,88532.3m shares reported held*
$969.1mreported value*
59 new 170 added 100 reduced 80 sold out net bought ≈ $91.5m (+3.1m 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 ≈ $30.03. Options: 7 managers hold calls ($25.0m notional), 6 hold puts ($10.7m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 24: 2Q4 24: 365Q1 25: 405Q2 25: 458Q3 25: 496Q4 25: 515Q1 26: 491491Q3 24Q1 25Q3 25Q1 26
Numbers
QuarterHolders
Q3 20242
Q4 2024365
Q1 2025405
Q2 2025458
Q3 2025496
Q4 2025515
Q1 2026491

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 25Q2 25: 209 bought or addedQ2 25: 97 cut or sold outQ2 25Q3 25: 249 bought or addedQ3 25: 122 cut or sold outQ3 25Q4 25: 217 bought or addedQ4 25: 175 cut or sold outQ4 25Q1 26: 229 bought or addedQ1 26: 180 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q4 20243272
Q1 2025193111
Q2 202520997
Q3 2025249122
Q4 2025217175
Q1 2026229180

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ2 25 calls: $29.9mQ2 25 puts: $9.0mQ2 25P/C 0.30Q3 25 calls: $27.0mQ3 25 puts: $13.4mQ3 25P/C 0.49Q4 25 calls: $27.1mQ4 25 puts: $12.4mQ4 25P/C 0.46Q1 26 calls: $25.0mQ1 26 puts: $10.7mQ1 26P/C 0.43
Numbers
QuarterCallsPutsP/C
Q2 2025$29.9m$9.0m0.30
Q3 2025$27.0m$13.4m0.49
Q4 2025$27.1m$12.4m0.46
Q1 2026$25.0m$10.7m0.43

Biggest buyers

Tidal Investments LLC Added +858,703+858.7k
MORGAN STANLEY Added +707,822+707.8k
WELLS FARGO & COMPANY/MN Added +606,254+606.3k
Ovata Capital Management Ltd New +567,872+567.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +509,504+509.5k
Paragon Advisors, LLC Added +404,372+404.4k
NewEdge Wealth, LLC Added +371,398+371.4k
EMORY UNIVERSITY Added +330,731+330.7k
Betterment LLC New +272,654+272.7k
Beacon Pointe Advisors, LLC Added +248,751+248.8k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Reduced -2,335,117-2.3m
JANE STREET GROUP, LLC Reduced -1,228,970-1.2m
Multicoin Capital Management, LLC Sold out -264,361-264.4k
DRW Securities, LLC Sold out -97,499-97.5k
RENAISSANCE TECHNOLOGIES LLC Reduced -94,400-94.4k
Pasadena Private Wealth, LLC Reduced -82,421-82.4k
PEAK FINANCIAL ADVISORS LLC Sold out -60,929-60.9k
Spahn Wealth & Retirement LLC Sold out -53,398-53.4k
B. Riley Wealth Advisors, Inc. Sold out -48,845-48.8k
Proficio Capital Partners LLC Reduced -44,267-44.3k

Biggest calls

CITADEL ADVISORS LLC Added $7.9m264.6k shares
IMC-Chicago, LLC Reduced $6.6m219.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $5.0m167.4k shares
SIMPLEX TRADING, LLC New $3.4m114.3k shares
JANE STREET GROUP, LLC Reduced $1.9m61.7k shares
GROUP ONE TRADING LLC Reduced $111.0k3.7k shares
Joel Isaacson & Co., LLC New $24.0k800 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.9m129.0k shares
IMC-Chicago, LLC Added $3.6m119.2k shares
CITADEL ADVISORS LLC Added $1.9m61.8k shares
JANE STREET GROUP, LLC Added $533.8k17.8k shares
SIMPLEX TRADING, LLC New $476.8k15.9k shares
GROUP ONE TRADING LLC Added $353.9k11.8k 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 2026

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 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Bullish 64.15% of their portfolio GEORGE TOWN, E9 4,523,9634.5m $135.7m $135.7m 64.15% Unchanged
2 HORIZON KINETICS ASSET MANAGEMENT LLC 0.98% of their portfolio NEW YORK, NY 3,004,4163.0m $90.1m $90.1m 0.98% Added +7.4k +7,356
3 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 2,078,9382.1m $62.3m $62.3m 0.01% Added +606.3k +606,254
4 Steward Partners Investment Advisory, LLC 0.21% of their portfolio STAMFORD, CT 1,361,2541.4m $40.8m $40.8m 0.21% Added +63.9k +63,861
5 EMORY UNIVERSITY 15.19% of their portfolio ATLANTA, GA 1,354,1481.4m $40.6m $40.6m 15.19% Added +330.7k +330,731
6 Paragon Advisors, LLC 8.68% of their portfolio COLLEGE STATION, TX 1,073,4301.1m $32.2m $32.2m 8.68% Added +404.4k +404,372
7 Tidal Investments LLC 0.09% of their portfolio Milwaukee, WI 991,110991.1k $29.7m $29.7m 0.09% Added +858.7k +858,703
8 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 928,819928.8k $27.9m $27.9m 0.04% Added +509.5k +509,504
9 Sloy Dahl & Holst, LLC 3.50% of their portfolio Vancouver, WA 850,614850.6k $25.5m $25.5m 3.50% Added +43.3k +43,318
10 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 832,601832.6k $25.0m $25.0m 0.02% Reduced -2.3m -2,335,117
11 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 719,078719.1k $21.6m $21.6m 0.00% Added +707.8k +707,822
12 KALEIDOSCOPE CAPITAL LP 7.06% of their portfolio BOSTON, MA 611,747611.7k $18.3m $18.3m 7.06% Added +154.7k +154,656
13 SteelPeak Wealth, LLC 0.56% of their portfolio WOODLAND HILLS, CA 599,531599.5k $18.0m $18.0m 0.56% Added +175 +175
14 Ovata Capital Management Ltd 2.38% of their portfolio HONG KONG, K3 567,872567.9k $17.0m $17.0m 2.38% New
15 ParaFi Capital LP 4.90% of their portfolio NEW YORK, NY 520,000520.0k $15.6m $15.6m 4.90% Unchanged
16 NewEdge Wealth, LLC 0.14% of their portfolio STAMFORD, CT 383,564383.6k $11.5m $11.5m 0.14% Added +371.4k +371,398
17 RIVERSEDGE ADVISORS, LLC 1.80% of their portfolio Wilmington, DE 370,049370.0k $11.1m $11.1m 1.80% Added +173.5k +173,469
18 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 360,099360.1k $10.8m $10.8m 0.01% Added +12.6k +12,625
19 EagleClaw Capital Managment, LLC 1.32% of their portfolio BOSTON, MA 313,677313.7k $9.4m $9.4m 1.32% Added +12.5k +12,487
20 Apriem Advisors 0.82% of their portfolio IRVINE, CA 286,259286.3k $8.6m $8.6m 0.82% Added +140.6k +140,592
21 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 282,129282.1k $8.5m $8.5m 0.00% Added +80.9k +80,908
22 Betterment LLC 0.02% of their portfolio NEW YORK, NY 272,654272.7k $8.2m $8.2m 0.02% New
23 Beacon Pointe Advisors, LLC 0.04% of their portfolio NEWPORT BEACH, CA 267,561267.6k $8.0m $8.0m 0.04% Added +248.8k +248,751
24 Pasadena Private Wealth, LLC 0.95% of their portfolio PASADENA, CA 228,044228.0k $6.8m $6.8m 0.95% Reduced -82.4k -82,421
25 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 227,896227.9k $6.8m $6.8m 0.02% Added +42.9k +42,885
26 Mariner, LLC 0.01% of their portfolio Overland Park, KS 222,404222.4k $6.7m $6.7m 0.01% Added +42.0k +41,982
27 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 203,570203.6k $6.1m $6.1m 0.00% Added +154.5k +154,518
28 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 194,603194.6k $5.8m $5.8m 0.01% Reduced -1.2m -1,228,970
29 HFG Wealth Management, LLC 3.19% of their portfolio The Woodlands, TX 193,397193.4k $5.8m $5.8m 3.19% Added +34.2k +34,179
30 Reliant Wealth Planning 1.64% of their portfolio LOUISVILLE, KY 180,843180.8k $5.4m $5.4m 1.64% Added +15.4k +15,410
31 Cresset Asset Management, LLC 0.02% of their portfolio Chicago, IL 170,983171.0k $5.1m $5.1m 0.02% New
32 Moors & Cabot, Inc. 0.22% of their portfolio BOSTON, MA 169,104169.1k $5.1m $5.1m 0.22% Added +17.0k +17,043
33 MATAURO, LLC 0.71% of their portfolio NEW YORK, NY 164,877164.9k $4.9m $4.9m 0.71% Added +135.5k +135,454
34 ASSETMARK, INC 0.01% of their portfolio CONCORD, CA 155,864155.9k $4.7m $4.7m 0.01% Reduced -32.6k -32,646
35 Stonebrook Private Inc. 0.96% of their portfolio NORTHVILLE, MI 149,895149.9k $4.5m $4.5m 0.96% Added +40.4k +40,442
36 Beaumont Financial Advisors, LLC 0.30% of their portfolio NEEDHAM, MA 146,947146.9k $4.4m $4.4m 0.30% Added +47.9k +47,943
37 Gem Investment Advisors, LLC 4.29% of their portfolio TEANECK, NJ 145,500145.5k $4.4m $4.4m 4.29% New
38 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 138,788138.8k $4.2m $4.2m 0.01% Added +18.7k +18,695
39 Ascension Capital Advisors, Inc. 1.29% of their portfolio Houston, TX 137,147137.1k $4.1m $4.1m 1.29% New
40 VVR Holdings LLC 2.11% of their portfolio BELLINGHAM, WA 135,900135.9k $4.1m $4.1m 2.11% Added +20.3k +20,348
41 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 135,127135.1k $4.1m $4.1m 0.02% Added +25.6k +25,574
42 Exit Wealth Advisors, LLC. 2.08% of their portfolio ATLANTA, GA 134,901134.9k $4.0m $4.0m 2.08% Added +14.0k +14,011
43 Financial Security Advisor, Inc. 0.72% of their portfolio VIRGINIA BEACH, VA 130,065130.1k $3.9m $3.9m 0.72% Added +32.2k +32,239
44 Heritage Family Offices, LLP 1.72% of their portfolio SCOTTSDALE, AZ 129,188129.2k $3.9m $3.9m 1.72% New
45 One Charles Private Wealth Services, LLC 0.93% of their portfolio HINGHAM, MA 124,003124.0k $3.7m $3.7m 0.93% Added +1.5k +1,452
46 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 110,931110.9k $3.3m $3.3m 0.00% Added +61.4k +61,382
47 MEITAV INVESTMENT HOUSE LTD 0.04% of their portfolio BENE-BERAQ, L3 106,693106.7k $3.2m $3.2m 0.04% Added +32.9k +32,947
48 Fielder Capital Group LLC 0.68% of their portfolio NASHVILLE, TN 103,657103.7k $3.1m $3.1m 0.68% Added +21.1k +21,121
49 MSRH, LLC 2.74% of their portfolio New York, NY 103,200103.2k $3.1m $3.1m 2.74% Unchanged
50 Merit Financial Group, LLC 0.02% of their portfolio ALPHARETTA, GA 102,403102.4k $3.1m $3.1m 0.02% Added +5.9k +5,857
51 Abacus Planning Group, Inc. 0.40% of their portfolio COLUMBIA, SC 99,23099.2k $3.0m $3.0m 0.40% Added +93.2k +93,163
52 Cushing Capital Partners, LLC 2.18% of their portfolio DELAFIELD, WI 94,66194.7k $2.8m $2.8m 2.18% Added +80.2k +80,194
53 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 91,77491.8k $2.8m $2.8m 0.00% Added +6.2k +6,198
54 ShoreHaven Wealth Partners, LLC 0.95% of their portfolio Red Bank, NJ 88,52788.5k $2.7m $2.7m 0.95% Reduced -9.1k -9,137
55 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 88,27688.3k $2.6m $2.6m 0.00% Reduced -9.1k -9,104
56 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 85,81285.8k $2.6m $2.6m 0.00% Added +6.2k +6,195
57 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 82,61282.6k $2.5m $2.5m 0.00% Reduced -40.7k -40,658
58 R. W. Roge & Company, Inc. 1.16% of their portfolio BOHEMIA, NY 81,38181.4k $2.4m $2.4m 1.16% Added +3.9k +3,943
59 MAD RIVER INVESTORS 0.88% of their portfolio BOSTON, MA 81,21781.2k $2.4m $2.4m 0.88% Added +3.6k +3,570
60 Aptus Capital Advisors, LLC 0.02% of their portfolio FAIRHOPE, AL 79,93279.9k $2.4m $2.4m 0.02% Added +45.5k +45,451
61 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 79,84779.8k $2.4m $2.4m 0.00% Added +619 +619
62 KINGSWOOD WEALTH ADVISORS, LLC 0.11% of their portfolio SAN DIEGO, CA 76,86776.9k $2.3m $2.3m 0.11% Added +6.8k +6,836
63 BECK CAPITAL MANAGEMENT, LLC 0.53% of their portfolio AUSTIN, TX 76,60776.6k $2.3m $2.3m 0.53% Added +38.9k +38,904
64 Quadcap Wealth Management, LLC 0.25% of their portfolio Frisco, TX 73,31173.3k $2.2m $2.2m 0.25% Added +2.0k +2,006
65 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 68,94268.9k $2.1m $2.1m 0.00% Reduced -2.1k -2,110
66 Weil Company, Inc. 0.44% of their portfolio SAN DIEGO, CA 65,20765.2k $2.0m $2.0m 0.44% Added +19.6k +19,649
67 Aries Wealth Management 0.42% of their portfolio PORTLAND, ME 63,70263.7k $1.9m $1.9m 0.42% Added +13.2k +13,241
68 AlTi Global, Inc. 0.04% of their portfolio NEW YORK, NY 60,19760.2k $1.8m $1.8m 0.04% New
69 Wealthfront Advisers LLC 0.00% of their portfolio Palo Alto, CA 59,33659.3k $1.8m $1.8m 0.00% Reduced -1.7k -1,712
70 THRYVE WEALTH MANAGEMENT LLC 1.17% of their portfolio IRVING, TX 58,26358.3k $1.7m $1.7m 1.17% Added +13.7k +13,720
71 Waterloo Capital, L.P. 0.12% of their portfolio AUSTIN, TX 57,26957.3k $1.7m $1.7m 0.12% New
72 Pettinga Financial Advisors LLC 0.31% of their portfolio EVANSVILLE, IN 55,12255.1k $1.7m $1.7m 0.31% Added +4.5k +4,531
73 Van Hulzen Asset Management, LLC 0.12% of their portfolio EL DORADO HILLS, CA 54,92554.9k $1.6m $1.6m 0.12% Reduced -2.4k -2,358
74 Ethos Financial Group, LLC 0.15% of their portfolio KING OF PRUSSIA, PA 53,63153.6k $2.1m $2.1m 0.15% Unchanged
75 McKinley Carter Wealth Services, Inc. 0.09% of their portfolio WHEELING, WV 53,04053.0k $1.6m $1.6m 0.09% Added +906 +906
76 Summit Financial, LLC 0.02% of their portfolio PARSIPPANY, NJ 52,08752.1k $1.6m $1.6m 0.02% Added +8.3k +8,298
77 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 51,98252.0k $1.6m $1.6m 0.00% Added +22.8k +22,805
78 Balboa Wealth Partners 0.25% of their portfolio SCOTTSDALE, AZ 50,33350.3k $1.5m $1.5m 0.25% Added +9.1k +9,099
79 THEORY FINANCIAL LLC 0.51% of their portfolio FORT COLLINS, CO 48,47648.5k $1.5m $1.5m 0.51% Reduced -11.1k -11,066
80 TigerOak Management, L.L.C. 0.45% of their portfolio NASHVILLE, TN 48,07748.1k $1.4m $1.4m 0.45% Added +2.4k +2,401
81 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 47,31147.3k $1.4m $1.4m 0.01% Added +24.9k +24,872
82 Addison Capital Co 0.25% of their portfolio Conshohocken, PA 46,96447.0k $1.4m $1.4m 0.25% Added +22.0k +21,997
83 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 46,44046.4k $1.4m $1.4m 0.00% Added +5.7k +5,663
84 Gallacher Capital Management LLC 0.52% of their portfolio LONE TREE, CO 45,22245.2k $1.4m $1.4m 0.52% New
85 Savant Capital, LLC 0.01% of their portfolio ROCKFORD, IL 44,92944.9k $1.3m $1.3m 0.01% Added +19.0k +19,041
86 Red Door Wealth Management, LLC 0.14% of their portfolio Memphis, TN 43,68443.7k $1.3m $1.3m 0.14% Added +14.3k +14,345
87 RFG Advisory, LLC 0.02% of their portfolio BIRMINGHAM, AL 43,55643.6k $1.3m $1.3m 0.02% Added +11.2k +11,246
88 ATX Financial Planning, LLC 0.97% of their portfolio AUSTIN, TX 42,50242.5k $1.3m $1.3m 0.97% Added +4.4k +4,359
89 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 41,94641.9k $1.2m $1.2m 0.00% Reduced -27.8k -27,759
90 TRAPHAGEN INVESTMENT ADVISORS LLC 0.10% of their portfolio ORADELL, NJ 41,74341.7k $1.3m $1.3m 0.10% Added +6.3k +6,266
91 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 41,16041.2k $1.2m $1.2m 0.00% Reduced -94.4k -94,400
92 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 39,55439.6k $1.2m $1.2m 0.00% Reduced -870 -870
93 IMC-Chicago, LLC 0.02% of their portfolio CHICAGO, IL 39,39239.4k $1.2m $1.2m 0.02% New
94 Sequoia Financial Advisors, LLC 0.01% of their portfolio Akron, OH 39,14839.1k $1.2m $1.2m 0.01% Added +2.7k +2,700
95 AXXCESS WEALTH MANAGEMENT, LLC 0.04% of their portfolio CARLSBAD, CA 38,96939.0k $1.2m $1.2m 0.04% Reduced -27.5k -27,519
96 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 38,96039.0k $1.2m $1.2m 0.02% Added +4.2k +4,212
97 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 38,76838.8k $1.2m $1.2m 0.00% Added +7.4k +7,445
98 EQ WEALTH ADVISORS, LLC 0.65% of their portfolio DALLAS, TX 37,04437.0k $1.1m $1.1m 0.65% Added +2.1k +2,114
99 Pekin Hardy Strauss, Inc. 0.11% of their portfolio CHICAGO, IL 36,66136.7k $1.1m $1.1m 0.11% Added +25.6k +25,588
100 RETIREMENT FINANCIAL SOLUTIONS, LLC 0.31% of their portfolio KNOXVILLE, TN 35,65635.7k $1.1m $1.1m 0.31% Added +7.2k +7,239